How to learn how to save money: 3 interesting lifehacks

Managing money can be a challenge. UAportal shared how you can build your savings with a few effective lifehacks and a sensible approach to money allocation.

10% of profits

To start your path to savings, follow the golden rule - set aside 10% of your paycheck as soon as you receive it. This simple step will allow you to save effortlessly, while ensuring that you always have enough money to cover other expenses.

Create a stash for knick-knacks

Some people are prone to spontaneous spending. If you are one of these people, consider creating a separate piggy bank specifically for trinkets.

Read also: How to save money on groceries: Three effective flyhacks

Whenever you feel like pampering yourself, you can access the funds from this stash. However, it's important to remember that once you deplete this resource, you shouldn't use other savings to fulfill impulse buying needs.

Track your spending

Keeping a record of all your purchases for 2-3 months provides valuable information about your spending habits. By carefully recording each purchase, you will identify areas where you tend to spend money unnecessarily.

This analysis will help you recognize items or services that do not add significant value to your life. As a result, you'll become more conscious about avoiding wastefulness and will purposefully allocate your savings to more meaningful things.

Recall, we told you that certain items can attract good luck and prosperity.

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