Are you one of those people who always have “too much month left at the end of the money”? Sometimes there’s no need to panic when it comes to making it to the end of the month and managing to save a little. Remember that to have healthy finances, you should be able to save at least 20% of your income every month, and ideally 30% or more.
Our friends at BBVA Continental (BBVA’s bank in Peru) have put together a simple but useful infographic with seven steps for making ends meet, and it’s a good place to start.
But remember that we have long focused on the importance of saving and investing, and even more on the importance of earning more money: that is, building more assets or looking for ways to earn extra money that give us more financial fuel so we’re not so stretched month after month.
We’ve already shared several tips to save more money and live more cheaply (recommended reading). We’ve also offered some ideas for saving on the small expenses that add up to big ones by the end of the year.
And I also recommend this article on avoiding the psychological money mistakes that are hurting your personal finances.
You’ll find the infographic with the seven steps for making ends meet on the BBVA Continental page linked above.
Even so, it never hurts to have a more solid grounding in financial education. Take a look at our recommended financial education books.
And finally, I once set you a challenge, a kind of game for saving more than €20,000 extra in 10 years. How? It may seem a little absurd, but it gets results when you take it seriously.
See also: How much money should we save each month to be financially responsible?
See also: 7 mistakes you make with your personal finances
Featured image: Bruce Turner from AustinTX, CC BY 2.0, via Wikimedia Commons.
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