{"id":1155,"date":"2020-08-16T12:04:44","date_gmt":"2020-08-16T12:04:44","guid":{"rendered":"https:\/\/www.cashvisory.com\/blog\/?p=1155"},"modified":"2020-08-17T02:25:55","modified_gmt":"2020-08-17T02:25:55","slug":"how-to-save-more-in-5-simple-steps","status":"publish","type":"post","link":"https:\/\/www.cashvisory.com\/blog\/how-to-save-more-in-5-simple-steps\/","title":{"rendered":"How to save more: in 5 simple steps"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1155\" class=\"elementor elementor-1155\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d0a5b87 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d0a5b87\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f73722a\" data-id=\"f73722a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bbb5993 elementor-widget elementor-widget-text-editor\" data-id=\"bbb5993\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Remember the time you got your first salary? That feeling of empowerment in having the control of your own fate and the elaborate plans you made to save and achieve your life goals! How are you faring? Like the majority of the population, you are likely to have been caught up with life and have yet to achieve that savings target.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d60e433 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d60e433\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e53b931\" data-id=\"e53b931\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ae18fb3 elementor-widget elementor-widget-text-editor\" data-id=\"ae18fb3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Whether it\u2019s been a few months or a few years or decades into your professional life, if you haven\u2019t figured out how to save \u201cenough\u201d yet, fret not, you can always turn things around. If you have just started working and are figuring out your way, learning saving techniques early will put you in an advantageous position to achieve your saving goals. Let\u2019s jump into these easy-to-implement strategies to set you on the right track.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bb93bbe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bb93bbe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-da16f59\" data-id=\"da16f59\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dee6cb7 elementor-widget elementor-widget-image\" data-id=\"dee6cb7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"662\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-1024x662.png\" class=\"attachment-large size-large wp-image-1156\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-1024x662.png 1024w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-300x194.png 300w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-768x497.png 768w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2.png 1050w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-12aa532 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"12aa532\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-651c8a5\" data-id=\"651c8a5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3342008 elementor-widget elementor-widget-heading\" data-id=\"3342008\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. Budgeting<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-817b9ef elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"817b9ef\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-64f8c7a\" data-id=\"64f8c7a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75b7712 elementor-widget elementor-widget-text-editor\" data-id=\"75b7712\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">This simple strategy <\/span><span style=\"font-weight: 400;\">is the first step of your financial planning journey<\/span><span style=\"font-weight: 400;\">. Splitting your spending into buckets such as basic living expenses, loans and insurance, leisure expenses, and savings and investments, will ensure you are allocating the right proportion of your income to meet your needs and wants while saving consistently<\/span><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">Read our post on the<\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/the-golden-rule-of-budgeting\/\"> <span style=\"font-weight: 400;\">golden rule of budgeting<\/span><\/a><span style=\"font-weight: 400;\"> to ensure your spending in each aspect of life is within \u201chealthy\u201d ranges<\/span><span style=\"font-weight: 400;\">. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e060077 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e060077\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-18e22ba\" data-id=\"18e22ba\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-940362d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"940362d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f5d4d0f\" data-id=\"f5d4d0f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c7d7c22 elementor-widget elementor-widget-heading\" data-id=\"c7d7c22\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. Tracking<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e8564af elementor-widget elementor-widget-text-editor\" data-id=\"e8564af\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Creating a budget is only useful when you track the actual amount you are spending and stick by the budget. Use spreadsheets, tracking apps or just review your bank\/card statements at the end of the month. While it might seem like work when you start, tracking your finances becomes intuitive over time and doesn\u2019t always require conscious effort.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-65610a0\" data-id=\"65610a0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77c6c9f elementor-widget elementor-widget-image\" data-id=\"77c6c9f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"530\" height=\"498\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image1-2.png\" class=\"attachment-large size-large wp-image-1158\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image1-2.png 530w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image1-2-300x282.png 300w\" sizes=\"(max-width: 530px) 100vw, 530px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-44e9220 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44e9220\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5a4ccf3\" data-id=\"5a4ccf3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-65f728f elementor-widget elementor-widget-heading\" data-id=\"65f728f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3. Identifying areas of improvement<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a4cd086 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a4cd086\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-13ffbd7\" data-id=\"13ffbd7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-35d32f0 elementor-widget elementor-widget-text-editor\" data-id=\"35d32f0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">You have your budget ready and are now tracking your expenses. <\/span><span style=\"font-weight: 400;\">Now it\u2019s time to handle those areas which are falling out of your budget. Cutting down on fixed monthly expenses are the easiest and most effective ways to save. On the other hand, while variable expenses are harder to track, they have plenty of room for saving if managed properly as well. <\/span><span style=\"font-weight: 400;\">Set your priorities and identify areas which are open for compromise in order to reach your goals. Let\u2019s look at some potential areas of saving.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b95df67 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b95df67\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d2ffa50\" data-id=\"d2ffa50\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9808e1e elementor-widget elementor-widget-text-editor\" data-id=\"9808e1e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>Fixed<\/b><span style=\"font-weight: 400;\">:<\/span><\/p><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><u>Rent<\/u><\/span><span style=\"font-weight: 400;\">: <\/span><span style=\"font-weight: 400;\">This is usually the biggest spend and hence, the easiest way to reduce your spending. Moving to a less expensive house can cut your monthly spending drastically. However, make sure you weigh your lifestyle requirements to ensure the compromises you make are worthwhile. For example, moving further away from your workplace to save on rent may increase your commuting cost, which might not be effective in saving more.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><u>Phone \/ Broadband \/ Cable<\/u><\/span><span style=\"font-weight: 400;\">:\u00a0 You\u2019ll be surprised at how the small savings from these monthly subscriptions add up to a big chunk of your expenses. With the popularity of streaming services, you may look to cancel your TV subscription, which has high charges and limited flexibility. Also analyse whether you really need the phone plan or broadband specifications you\u2019re using or if you can shift to more economical plans.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><u>Debt<\/u><\/span><span style=\"font-weight: 400;\">: Having a large amount of<\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/debt-the-good-the-bad-and-the-grey-in-between\/\"> <span style=\"font-weight: 400;\">high interest loans<\/span><\/a><span style=\"font-weight: 400;\"> can be detrimental to your saving potential. The high interest results in significantly large monthly instalments. Consider options like<\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/refinancing-your-loans-why-it-matters\/\"> <span style=\"font-weight: 400;\">refinancing<\/span><\/a><span style=\"font-weight: 400;\"> or paying off these loans lump sum to enable higher savings.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7a4cd93 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a4cd93\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2d903ee\" data-id=\"2d903ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d12f3d3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d12f3d3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-37c320a\" data-id=\"37c320a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eee3fbc elementor-widget elementor-widget-text-editor\" data-id=\"eee3fbc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>Variable<\/b><span style=\"font-weight: 400;\">:<\/span><\/p><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><u>Food<\/u><\/span><span style=\"font-weight: 400;\">: Generally, you have three options for food: restaurants \/ food delivery, hiring a cook and cooking at home, in the order of most to least expensive. You can save substantially by shifting from eating out or ordering food to cooking at home or hiring a part time cook i<\/span><span style=\"font-weight: 400;\">f you lack time or interest in cooking<\/span><span style=\"font-weight: 400;\">.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><u>Holidays<\/u><\/span><span style=\"font-weight: 400;\">: While all of us need a break to pamper ourselves, being a little cautious with our spending there can give us choices in life that may be far more fulfilling than a spa retreat. Look for budget flights, opt for ordering food online instead of room service, and always travel within your budget. It\u2019s never a good idea to use a<\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/debt-the-good-the-bad-and-the-grey-in-between\/\"> <span style=\"font-weight: 400;\">cashline for travel expenses<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li><li style=\"font-weight: 400;\"><u>Others<\/u><span style=\"font-weight: 400;\">: Relook at areas such as skipping the expensive Starbucks coffee, or reduce your electricity bills by using fans instead of air-conditioners, and LED lights instead of traditional bulbs. Be sure to ask about discounts and look for deals for other purchases.\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b22a99f\" data-id=\"b22a99f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-494d3f8 elementor-widget elementor-widget-image\" data-id=\"494d3f8\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"175\" height=\"175\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image3-1.png\" class=\"attachment-large size-large wp-image-1159\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image3-1.png 175w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image3-1-150x150.png 150w\" sizes=\"(max-width: 175px) 100vw, 175px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c3c27c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c3c27c8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-528dcce\" data-id=\"528dcce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0345012 elementor-widget elementor-widget-heading\" data-id=\"0345012\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">4. Automate your savings<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a4e568b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a4e568b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4d4042b\" data-id=\"4d4042b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8b8660c elementor-widget elementor-widget-text-editor\" data-id=\"8b8660c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Once you have budgeted, tracked and improved your spending habits, it is time to put things on auto-pilot. Simply split your saving funds from your spending funds right at the point of salary debit. There are auto transfer features offered by many banks to transfer a <\/span><span style=\"font-weight: 400;\">fixed sum <\/span><span style=\"font-weight: 400;\">from your main account to a separate savings account.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eff90ac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eff90ac\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-53c2b61\" data-id=\"53c2b61\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6409b1b elementor-widget elementor-widget-text-editor\" data-id=\"6409b1b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In addition, you can set up a monthly SIP from your savings account to<\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/how-to-protect-your-savings-from-the-impact-of-inflation\/\"> <span style=\"font-weight: 400;\">grow your funds and ensure its value is not eroded by inflation<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">Before you implement this strategy, make sure you have built up sufficient<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/e\/emergency_fund.asp\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">emergency funds<\/span><\/a><span style=\"font-weight: 400;\"> in a liquid saving or deposit account.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-92727df elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"92727df\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-061693f\" data-id=\"061693f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a6f0a26 elementor-widget elementor-widget-heading\" data-id=\"a6f0a26\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">5. Set your goals and priorities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-afdc5d3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"afdc5d3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-957780b\" data-id=\"957780b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b811c70 elementor-widget elementor-widget-text-editor\" data-id=\"b811c70\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">We save to achieve our life goals \u2013 from meeting our living needs to fulfilling our dreams. As such, the most effective way of planning your savings that you should strive towards is to adopt a goal-based approach instead of just saving the surplus. Jot down your financial goals e.g. buying a house, planning a vacation, doing an MBA, etc. <\/span><span style=\"font-weight: 400;\">Then calculate the inflation adjusted amounts you need to meet these goals and the monthly savings and investments required.<\/span><span style=\"font-weight: 400;\"> We will be coming up with intuitive tools to help you through this journey in the coming months. Stay tuned!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bb9ceed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bb9ceed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c20d862\" data-id=\"c20d862\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f3ea271 elementor-widget elementor-widget-image\" data-id=\"f3ea271\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"479\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image4-1024x479.png\" class=\"attachment-large size-large wp-image-1160\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image4-1024x479.png 1024w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image4-300x140.png 300w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image4-768x359.png 768w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image4.png 1137w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-41b6bde elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"41b6bde\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c845413\" data-id=\"c845413\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-315c857 elementor-widget elementor-widget-heading\" data-id=\"315c857\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bottom Line<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5b51822 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b51822\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4185afc\" data-id=\"4185afc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7efaa4c elementor-widget elementor-widget-text-editor\" data-id=\"7efaa4c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Budgeting, tracking, improving, automating and prioritising &#8211; that\u2019s the starter pack to set you on your way to financial freedom. Whether you have just started working and don\u2019t know how to <\/span><span style=\"font-weight: 400;\">save<\/span><span style=\"font-weight: 400;\"> or have been working for a while and feel like you could do better with your savings, these steps are <\/span><span style=\"font-weight: 400;\">applicable<\/span><span style=\"font-weight: 400;\"> for all. Take your first steps towards your goals. Start today.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Remember the time you got your first salary? That feeling of empowerment in having the control of your own fate and the elaborate plans you made to save and achieve your life goals! How are you faring? Like the majority of the population, you are likely to have been caught up with life and have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-expenses"],"uagb_featured_image_src":{"full":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2.png",1050,679,false],"thumbnail":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-150x150.png",150,150,true],"medium":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-300x194.png",300,194,true],"medium_large":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-768x497.png",768,497,true],"large":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2-1024x662.png",1024,662,true],"1536x1536":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2.png",1050,679,false],"2048x2048":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-2.png",1050,679,false]},"uagb_author_info":{"display_name":"Admin","author_link":"https:\/\/www.cashvisory.com\/blog\/author\/admin\/"},"uagb_comment_info":3,"uagb_excerpt":"Remember the time you got your first salary? That feeling of empowerment in having the control of your own fate and the elaborate plans you made to save and achieve your life goals! How are you faring? Like the majority of the population, you are likely to have been caught up with life and have&hellip;","_links":{"self":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/comments?post=1155"}],"version-history":[{"count":5,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1155\/revisions"}],"predecessor-version":[{"id":1327,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1155\/revisions\/1327"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/media\/1156"}],"wp:attachment":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/media?parent=1155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/categories?post=1155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/tags?post=1155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}