What can you do to have money left over at the end of the month?

Finding it hard to save money at the end of the month? Then check out our tips!

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Making it possible to have money left over in the month is the dream of many Brazilians. However, this is not the case most of the time.

Rising inflation and the cost of living in general, especially in big cities, are some of the villains of the personal budget.

However, a lack of financial education is also responsible for this situation.

Does having money left over at the end of the month seem difficult to you? Then read on and check out several powerful tips to keep your finances in order all year round!

1. Write down your income and expenditure

Writing down all your income and expenditure is the first step to taking more control of your budget.

By doing this, you can identify your main expenses. You can then figure out how to eliminate or at least reduce them.

Imagine, for example, that you spend a large part of your salary on takeaways, since you don't cook.

If you don't control this expense, it will steal a large part of your budget and you won't even realize it!

That's why you need to know exactly where most of your salary is going.

In this way, you can change your spending habits and make it possible to have money left over at the end of the month.

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2. Pay for the essentials first

As soon as you receive your salary, pay your main expenses, such as rent, mortgage, condominium, electricity and so on.

Then set aside part of your budget to save and invest. That way, you'll be prepared to deal with unforeseen financial events.

If you have any money left over, you can use it for leisure activities, such as traveling, eating out, going out with friends, etc.

However, remember that the priority must always be to pay the bills and create an emergency reserve.

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3. Eliminate unnecessary expenses

Writing down your expenses is very important if you want to discover the main villains in your budget.

However, if you only check your expenses but don't try to eliminate or reduce them, it won't do much good.

There are many things that eat away at your budget and you don't even realize it. They are usually small expenses, but when they accumulate, they become a big nine ball.

Excessive shopping, subscription costs (for services you don't use very often), the constant purchase of products on sale... all these costs become real villains when they are not controlled.

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4. Research before you buy

Don't make a purchase without having researched the price of the same product in at least two different stores.

The internet is a great help in this task. So take advantage of all the resources that technology offers to make price research easier.

It's also worth walking around your neighborhood to find the cheapest places to shop.

How many times have you bought something and walked past another store to see the same product for less?

To avoid this situation, make price research a habit in your life!

You can be sure that doing so will make it much easier to have money left over at the end of the month.

5. Learn how to use your credit card

The credit card is a great ally for your finances - if you know how to control its use.

The advantage of using credit card, is that you can increase control over your spending.

After all, in the app itself, you can check your most recent expenses and find out where most of your money is going.

So you don't have to cut up your credit card to save money. You just have to use it in the right way.

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6. Know exactly what you want

Setting goals for the future is a very interesting way to save money.

By focusing on what you really want, it becomes easier to acquire the motivation you need to cut down on unnecessary spending.

For example, let's say your goal is to buy a car in cash over the next few years.

By setting your goal, you can organize yourself so that you know how much you need to save and invest each month.

This way, you'll have more willpower to avoid the impulse purchases.

To have the willpower to save money, it's important that you know what to do with it. After all, money is the means used to achieve goals, whether they are big or small.

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7. Pay off your debts

If you have any outstanding debts, try to pay them off as soon as possible.

With your financial debts settled, you can have more financial peace of mind when it comes to analyzing your budget and controlling your finances.

To pay off debts, it is important to try to negotiate all your debts with the creditor institutions.

Depending on the case, it may even be worth using your FGTS to pay off overdue bills.

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8. Create an emergency reserve

Having financial control is essential if you want to pay all your main expenses and always stay in the black.

But don't forget to build up an emergency reserve. That way, if something unexpected comes up, you'll be able to use the money you've saved.

In the months when extra expenses arise, or you experience financial difficulties, a financial reserve will be a great ally!

Ideally, your emergency reserve should be enough to cover at least six months of your essential expenses.

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9. Earn extra income

You already know that cutting costs and creating an emergency reserve is essential if you want to have money left over at the end of the month.

But savings have their limits. After all, there are expenses that cannot be eliminated.

So always look for a source of extra income. That way, you'll increase the amount you earn each month and have more financial peace of mind.

Conclusion

Did you like our tips for saving money at the end of the month?

See which ones apply most to your situation and start putting them into practice as soon as possible.

Your financial health and your future will thank you!