How to save money while earning little? Valorizei teaches you!
Do you know how to save money on a low income? Continue reading this text and discover the tips we have put together to help you!
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A survey carried out by economist Lucas Assis (Tendências Consultorias) showed that, until the first quarter of 2022, 38,22% of Brazilians received up to one minimum wage per month.
In other words, around 36.414 million Brazilians survive on up to R$1,212.00 per month. These families certainly face many challenges.
One of them is saving for emergencies or even to have a better quality of life in the future.
Despite being challenging, is it possible to save money while earning only the Brazilian minimum wage?
In fact, besides not being impossible, it is also necessary. After all, the less you earn, the more you should save.
This way, you can avoid some hassles and perhaps loosen your budget every month.
From there, you can use the amount you saved to invest or earn extra income, for example.
So, keep reading and discover the simple tips we have put together to help you save money even if you earn little.
How to save money when earning little?
Knowing how to save money can bring many benefits, especially if you earn little. You probably already save involuntarily.
A person who earns up to one salary and manages to survive in our country is probably a good manager, considering the cost of living in Brazil.
We can cite an example of the basic food basket; in some places it already costs more than R$$700.00, not including expenses for energy, water and rent.
Surely, you're already juggling a lot to pay your bills, but they say two heads are better than one, right?
That's why Valorizei wants to help you a lot in this process. We've put together these simple tips, some of which you might not even know about, but you might be able to put into practice to save a little more.
Check it out!
#Make an analysis of your financial life
First, you need to analyze your financial life. What do you need to improve? What do you want for the future?
From this point on, it becomes easier to set goals, achieve objectives; change and adopt new habits.
#Have a financial plan
O financial planning It will help you keep a close eye on your income and expenses. It makes it easier to have control over your finances and find out where changes need to be made.
#Cut unnecessary expenses
Financial planning is the ideal tool to show you which expenses can be cut.
We know that it may be difficult to imagine that there would be any unnecessary expenses in the budget of a person who receives R$1,212.00 per month, but it can happen.
Analyze all your expenses and see what you can cut without compromising your quality of life. For example, streaming subscriptions, games, or other services that you don't use frequently.
Cutting or changing non-essential expenses in your routine will make all the difference to save money by earning little.
See below some more expenses that can be changed in your life.
- Swap a card with an annual fee for one credit card with no annual fee.
- Use bank accounts with no monthly fees.
- Bank transfer fee (make a Pix. It's free and instant.).
- Avoid late fees, pay for your purchases before the due date.
- Take a packed lunch.
- Go by bike.
#Use discount coupons and cashback
Currently, thousands of people have saved money with discount coupons. You can get discounts to use on various services and products.
There are even specific coupon sites, for example: Méliuz, Cupomania and Cuponeria.
It is still possible to get discounts on digital accounts and partner stores; most digital accounts offer discount coupons to use on partner store websites.
In addition, you can get cashback, that is, money back on purchases. Among the best apps to get cashback cashback, we can highlight:
- Inter Bank;
- C6 Bank (Atoms Program);
- PicPay (you can even get money back when paying bills through the app);
- Meliuz;
- Magalu.
Therefore, before buying something, search for discount coupons and which stores or cards offer cashback.
#Evoid waste
Did you know that more than 27 million tons of food are wasted each year in Brazil? The alarming data comes from a survey carried out by the UN.
She points out that 10% of waste occurs in Brazilian supermarkets and homes.
Unfortunately, waste is common among families in Brazil, even in low-income homes.
However, it is not just food waste that you should avoid to save money, but also wasted time, electrical energy and water.
Start policing yourself, if necessary, make a list, put up signs, establish rules and use a timer to avoid waste.
The difference will be felt in basic consumption bills and the savings will be noticeable.
#Save at the supermarket
Save money while earning little It doesn't mean limiting yourself and always choosing the worst and cheapest option. In fact, it means you should make smart trade-offs.
A great place to make smart trades is at supermarket. First, set aside a specific day to go to the establishment, choose a day when you can find more promotions.
Do some research to find out which supermarket is the cheapest in your neighborhood. Wholesale stores usually offer good value for money.
It would be a good idea to buy in bulk, as this will help you save more. An important tip is to split the purchases with someone if you have a small family.
Always choose mid-range brands, as they offer better value for money, for example, they are not as expensive, but they also have better quality and durability compared to cheaper brands.
See below for some more tips to help you save money at the supermarket:
- Make a list;
- Avoid taking children;
- Eat before going to the market;
- Keep an eye out for promotions and offers;
- Featured products are not always the cheapest;
- Define a weekly menu;
- No brand prejudice, try new products.
Take the opportunity to read it too 🔜 The best credit card options with discounts at supermarkets!
#Liminate access to credit
77.4%, this is the percentage of families in debt due to the use of credit cards. This financial product is not a villain, it can even be an ally in your finances, as long as you know how to use it.
To do this, limit access to this financial product. Here are some tips that can help you:
- Concentrate your spending on just one card;
- Your credit card limit must not exceed 30% of your income;
- Divide the limit by the 30 days of the month to find out how much you should use per day;
- Do not pay your credit card bill in installments;
- Do not pay for purchases in installments;
- Use a credit card with no annual fee that pays cashback;
- Set up direct debit for your bill payment.
If you buy on impulse and cannot control your spending, it is best not to use this financial product for now.
Adopt good financial habits and learn to use your credit card wisely, then use it.
#Learn to say “NO”
Many people buy things simply because they can't say no. In fact, when saying no is challenging, it may be linked to some psychological condition.
Therefore, it is important to assess the situation and seek psychological help if necessary.
#Negotiate your debts
A person in debt will have difficulty achieving financial balance and control over their finances. If you have debts, look for a responsible company and negotiate installments that fit within your budget.
You can check them on the Serasa website and negotiate there. Without accumulated debts, everything will be easier, as all the money saved can be used for other things. Follow our next two topics to find out more.
#Invest your money
You don't need to earn a ton of money to start investing, in fact, you can do it from R$1.
Use the money you save to start investing. Start small and gradually increase the amount. The important thing is that you start and create the habit of saving and investing.
To help you, below we have separated some alternative places to invest with less than R$100.00
| Sofisa Direct | From R$1 |
| Nubank | R$1 |
| Next | R$1 |
| C6 Bank | R$20 |
| Inter | R$100 |
| PagBank | R$1 |
Investing is a great way to grow your wealth and plan for the future. By investing, you give your money more value with the opportunity to see it grow.
If you still don't know anything about investments, don't worry! Here at our blog you will find a lot of content that can help you get started.
#Make extra income
A valuable tip for those who earn little is to earn extra income and seek professional qualifications to get a job that pays more.
There are currently many great free courses for those who want to change professions or start in a new field.
It's worth researching and learning something new, that way you may have the opportunity to earn a better salary.
In the meantime, there are many ways to get one extra money, for example:
- Kwai;
- Digital accounts friend referral program;
- Social media art on Canva;
- Cake in a jar;
- Working as a cosmetics dealer;
- Work as an affiliate;
- Sell photographs on the internet.
Conclusion
Save money while earning little It's difficult, but not impossible. Put our tips into practice and see the difference.
Don't forget that idle money loses value. Invest your money or save it in a digital savings account.
