The CPI continues to rise, the war between Russia and Ukraine is still active and the reality is that many Spaniards are worried about the arrival of a possible economic crisis. Well, in that context, hoaxes have begun to circulate and one of them has affected the Bank of Spain pointing out, falsely, that this entity recommends having cash at home.
This information, as the Bank of Spain itself has reported, is not true. However, what the entity does recommend, whatever the economic circumstances of the country or the political situation that dares, is to have aAn economic cushion that allows all citizens to face any unforeseen event.
Specifically, the advice of the Bank of Spain is that all people who can afford it have saved the equivalent of between three and six months of fixed expenses. In other words, if a citizen lives for rent and, in addition, is paying a car bill, in order to live with peace of mind, they should have in their bank account the equivalent of three months’ rent, three months of car bills and more or less cost of monthly bills for a quarter.
Simple tips to save
In case after reading the recommendation of the Bank of Spain you have been left with your mouth open, you may be interested in reading some tips that, although sometimes we are a bit lazy to follow, the reality is that always help save. Here we leave them.
- Write down your expenses and keep them under control. It is basic but essential. When you see what you spend your money on, you almost certainly know where to remember. In this case, knowledge, more than power, is money.
- Make a budget and don’t skip it. Although it seems obvious, this point is key to having a healthy economy and exploiting the savings capacity to the maximum. Budgets of different types can be made: weekly, monthly or for events.
- Set a savings goal and go for it. Setting a savings goal is key. Yes, be realistic. Going increasing the mattress little by little is gratifying, but it is even more rewarding to go, little by little, achieving your goals.
- Take advantage of the offers. Another obvious thing worth remembering. Sometimes, we want something and we want it now when the reality is that we don’t need it so much. In these cases, we must keep a cool head and consider that, if we want to treat ourselves, it may be much more profitable for our pocket to wait a bit for the sales, Black Friday or some date of this style to arrive.
- Save through a game: There are various games designed to save. If your goal is to save an amount of less than 1,000 euros, we recommend that you look for a fun method such as the penny challenge, which consists of starting to save 3.65 euros on January 1, 3.64 on 2, 3 on 3, 63 and thus decrease one cent each day until the end of the year. If, on the other hand, the money you want to save is around a thousand, you can try the ’52 Week Method’. This system is similar to the previous one, but in reverse. For 52 weeks you have to save one more euro every seven days: the first week you save 1 euro, the second week you save 2, the third 3, and so on until in week 52 you add 52 euros to your piggy bank and reach a total of 1,378 euros.
- Take your tupperware to work or lunch to the study center. Although it is not a large amount, food and lunch represent a small daily expense that you can save if you take a Tupperware from home. Although it costs more work to prepare the food the day before, the difference in price is worth it.
- Make your own weeks, or weekends, of savings. The last simple tip to save that we propose is that you make your own savings weeks when you think you have been spending a lot. They simply consist of trying to compensate for the excess of the budget by spending less in a limited time.
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