There’s a big difference between wanting to save money and actually starting to save them. Most people start this process but give up after a while or even enter their savings, and sometimes, even finish them faster than they started saving.

We already covered this subject, but I’m going to give you practical methods that will help you have several systems that will prevent you from starting using to saved cash. Here are the best effective ways of saving money, within a month:

Establish Your Budget

ways of saving money
Photo Credit: Olga DeLawrence/ Unsplash

One of the best ways of saving money is to start the right way. In order to see how much you can save, you need to know how much you spend every month. So how do you do that? Simple.
Keep all the receipts for any purchase you made in one month and put them in different categories. At the end of your month, you’ll be able to see exactly on what your money goes and how much you spend on groceries, restaurants, utilities, entertainment and so on. It will allow you to prepare yourself for the next steps.

Envelope Cash

Photo Credit: Joanna Kosinska/ Unsplash

This system works miracles as it allows you to see exactly how much you have to spend in every category. After receiving your salary, split your money in different piles. Calculate how much you need for utilities, food, car loan, rent and everything you need to pay this month. Put them in different envelopes and write on them for what is used every one of them.
Create another category with an envelope with “Savings” written on it and decide you’ll add at least $20, $50, $100, $250 (a budget of your choice), every month. Do not set the amount very high as you’ll be satisfied when you’ll accomplish your goals, and even add some extra, rather than not being able to complete your monthly task. So better establish a $100/month in your savings and add more, rather than putting $300 and not being able to do it.
The envelope cash system allows you to see exactly how much you have for each category and how fast they go.

Create an Emergency Fund 

ways of saving money
Photo Credit: Fabian Blank/ Unsplash

This step should be a must, because, without it, any ways of saving money will be gone really fast.
So, before creating the “savings” envelope, your first category where you should start saving is the “emergency fund”. This will remain constant and you’ll replenish only when you enter it.
Establish how much you want it to be $500 or $1000 and you’ll be able to use it when unforeseen events will happen. Like any broken electronics that needs repairing and so on.

Automatic Retirement Plans

Photo Credit: Kahar Saidyhalam/ Unsplash

This is the easiest way of creating a retirement plan. Ask your employer to deduct an amount every month and to be directed to your retirement account. This way, you’ll be sure you’re not going to touch these savings and will gather up with every paycheck. Again, there mustn’t be a large sum, it can be $100/month, that will gather for years, and if you’re receiving a raise, you can increase the monthly amount set for your retirement plan.

Caprices- A Reason to Save

ways of saving money
Photo Credit: Mickael Gresset/ Unsplash

You should always make room for treating yourself, but here’s a super effective way of not going overboard. When thinking to buy something nice, that will make you happy but isn’t a necessary must, put the same amount into your savings. This way you’ll know that if you don’t have the amount available for both your treat and savings, you can’t afford to do it.
This includes everything, from a day at the spa, different entertainments to a simply natural juice bought between meals.


We tested these ways of saving money and they definitely work and can help you save a LOT from the first month. What do you think about them? Have you tried any of these methods by now? We’d love to hear your opinion.

Here are other useful articles on ways on saving money:

Facebook Comments