How to save money fast: 11 rules for managing your personal budget

We share a list of recommendations on how to quickly save money without denying yourself small pleasures.

How to quickly save money

To start saving money, you need to know your current financial situation. To do this, we recommend analyzing expenses and comparing them with income. If you have calculated everything and it turned out that expenses exceed income, it is too early for you to think about quick savings. Look for better paying jobs. We do not suggest that you look for small part-time jobs and turn into a robot 24/7. And we also do not recommend quitting and looking for a new job. Make job hunting a part of every day, but don't stop working where you are right now.

To make things easier for yourself, sign up for a trusted job placement mailing list. For example, HeadHunter has a good reputation. We are looking for people to join our team there.

But back to the main topic – how to quickly save money. There are at least 11 rules, the observance of which gives the desired result.

How to save money fast: 11 rules for effective personal finance management

1. Analyze expenses and income.
2. Fix monthly expenses and use convenient services and mobile applications for this. It is no longer necessary to start a separate notebook and carry it with you everywhere.
3. Set aside between 3% and 10% of your income every month. If you receive, for example, 30,000 per month, you may not be comfortable taking 10%, and 3% may be too small an amount – and the goal is still to accumulate quickly. Find a comfortable percentage and don't let yourself waste it.  
4. Study in detail not only the question of how to quickly save money, but also another, no less important aspect – where will you put your savings? It could be a bank, a separate debit card, or your grandmother's pillow. Choose a convenient way.
5. Analyze how much money per month you spend on utility bills, the Internet, telephony, utilities and other bills. Calculate – this is an important monthly expense item.
6. Have you ever wondered what you eat and why? And how much does it cost? Set aside money for food – this is a "holy" expense item.
7. Sort out things in the wardrobe. Remove from it those that you have not worn for a year and give it to recycling, take it to the trash and put it next to the container or take it to a special store. Now look to see if everything is in place. We mean do you have enough things. Do you have all the essentials? If you need to replace some things or you suddenly find that something is simply not there (for example, winter boots, and it's February in the yard), allocate money and “pack your wardrobe".
8. As a rule, no one considers transport costs. Especially if you do not have a personal car and you travel by metro and ground. Small expenses, but it is also your daily expense item. This, by the way, includes not only gasoline or fares. Count on money for sudden repairs (an airbag should be not only for you personally, but also for your car) and insurance.

What else will help you save money

• Do not deny yourself pleasure. If you decide to save money quickly and deprive yourself of small pleasures and entertainments, soon you will need another item of expenditure – the treatment of depression. And how to quickly accumulate money if you are not able to function normally? And this is not only payment for the work of a psychoanalyst, but also the systematic use of pharmaceuticals, which are not cheap. This item of expenditure also falls into the “holy spending” section, which must be made in any case. Rest balances you. Allows you to work harder later at work.
• Don't forget to study. There is a lot of information on the Internet about the need to save money for training and advanced training, but we think otherwise. There are countless webinars, online lectures, lessons and schools that share knowledge for free. Look for them first. And only after you swim across this ocean of knowledge is there a chance that you will have to cut through the ceiling of knowledge with paid courses. But we recommend studying open information, learning how to learn, and also finding a company that is ready to train employees and pay for its courses. This will save you time searching for information from open sources.
• Consider such an expense item as unforeseen expenses. It's abstract, but it happens often. Impulse shopping, illness, or sudden travel. You should have enough for everything. You can allocate 3% of your income for this. But, again, it all depends on the amount you receive monthly.