Most of us have insufficient amounts of money – even if we earn more than the national average. Monthly payments, such as bills, installments, rent, can sometimes be quite a burden. When additional unexpected expenses appear, then the home budget is not fully paid.
We often ask for loans
However, there is a simple way not to have to incur them – saving money. Of course, a matter only seemingly may look so simple.
Many of us earn really little and therefore we only have enough money to cover current expenses. In this situation, putting money away may seem impossible. However, in reality, even then, we can save small sums. In this way, we protect against sudden fees that may occur at the least expected moment.
How to save with low earnings?
Above all, we should develop our saving plan. We do not need to allocate a large part of our revenues to savings, because we can also save smaller sums, which will not be a huge burden.
Even 10-20 zlotys a month will allow us to save from 120 to 240 zlotys a year during the year. It seems not much, but we will really appreciate such a financial cushion when special expenses arise. Naturally, the more we put aside, the better! Experts indicate that it’s best that we have put off at least once in our monthly earnings.
Of course, you can also cut your expenses in a number of other ways. Renting books from the library instead of buying them, self-preparing coffee instead of buying it in a coffee shop, saving on water and electricity and heating, searching for promotions on the internet, riding a bike in good weather – these are just a few ideas from hundreds of ideas for saving.
When to afford a loan?
Thanks to saving, we do not usually have to borrow for our expenses. This is a big saving, because actually borrowing money is quite expensive, regardless of whether we choose a bank or a loan company offering payday loans or installment loans. Interest rate, margin, preparation fee cause that we give more than we borrowed.
However, there are situations in which the loan is the only solution – then, with the savings already in place, we can take a smaller sum than if we did not have any “comedones”. For example, if we suddenly need PLN 5,000, but we will have PLN 2,500 in savings, just borrow the other half.
So when we need extra money, it’s best to have them at home – on a savings account or on a well interest-bearing deposit, where they will not lose their value. However, when we need a loan , let’s put a good offer on it – let’s check out various loan companies and banks and choose those that will be able to guarantee us the proper financial support on favorable terms and without high costs.