As soon as you relax more of the account in summer, you run the risk of neglecting your personal expenses and leaving your account in red . It would not be very smart to throw away all the economizing effort of the year. Eleven months saving like an ant to splurge everything in fifteen days? Nooooo … Five are the principles of the saver that you should never overlook, even during the hot and sometimes soporific summer months.
The five saver principles that you can not throw overboard this summer
Pay yourself first
All the editors of this blog have put a lot of effort into this principle. The best savers are those who save at the beginning of the month . If you wait until the 30th, maybe you have some money left or maybe you’ve spent it all and you have nothing left to save.
It is easier and gives better results to make the saving effort at the beginning of the month. With the “pay yourself first” you take the money saved to another account as soon as you enter the payroll in the bank. This is the best way to avoid the temptation to spend more than you owe.
Make a budget
Even if it’s summer and it’s a bit more complicated than normal to get the expenses right, you have to make a list as close to reality as possible. If you do not do it, you run the risk of losing control over your finances .
We advise you that these exceptional days use two special categories: the normal expenses (which will be those of all the months) and the extraordinary expenses (which will be the special expenses that you are going to have this summer).
Do not become indebted
If you want to buy something, spend a weekend at the beach or treat yourself to a special treat, you must first save the money necessary to pay for it. Good savers are able to survive the summer without getting into debt .
Debts are good when we use them to invest (in a home, in studios, in a business …), but when we use them to buy things, interest will make everything more expensive. Not to mention that they can cause us important financial problems in case of non-payment.
Do not waste
You do not need to pay a fee to the gym if you barely see yourself there; you do not need to hire so many megaphones on your mobile; you do not need eight pairs of shoes in the closet; and you do not need to renew your mobile phone every two or three years. In short, you do not need to spend that much .
You have to learn to close the tap of waste . Consumerism is part of the culture of Western countries. We are surrounded by stimuli that invite us to buy all kinds of things (advertisements on television, on the internet, on advertising campaigns …). You have to learn to defend yourself from them.
You already know the benefits of the investment because we have written pages and pages on the subject in the blog. Investment allows us to fight inflation, not lose purchasing power and make our savings grow. And it is also one of the most important principles of the saver. Compound interest should play in our favor also during the hot summer months.