6 wrong ways to save money

1. Rely on willpower every month

In theory, everything seems simple: save X rubles for Y months, and the financial goal will be achieved. All you need to do is to transfer a certain amount to a savings account every month. But if you've tried this approach before, you know what usually happens next - life. Unplanned expenses, urgent expenses and unforeseen situations arise.

You decide that you will only slow down your savings for a month, but next time something else happens or you come across a bargain.

Willpower in such cases is not the best assistant. Instead of relying on it, automate the transfer of savings. Then you don't have to struggle with yourself every time, deciding whether to postpone or not.

2. Always buy the cheapest

In the long term, such purchases, on the contrary, turn out to be more expensive. Don't forget that a quality item will last you longer. For example, cheap shoes will quickly wear out and lose their appearance, while expensive ones, with proper care, will delight you for many years.

So be smart about your savings: look for the deals that are most profitable in the long run. And do not get fooled by the tricks of marketers: if a product has a discount, this in itself does not mean that it will become a profitable purchase for you.

3. Postpone only after accounting for other costs

If you consider that you "can" save only what remains at the end of the month, you will not be able to save anything.

Build your budget to prioritize saving.

First of all, calculate how much you need for basic expenses (rent, food, transportation, medical services). Then subtract the amount of the desired savings from the balance. And only after that, distribute the remaining funds. If you don't have enough money to save and cover basic expenses, consider how you can cut your spending and increase your income.

4. Tighten up with preventive maintenance

We already do it, and when procrastination also saves money, it's almost impossible to resist. But it's better to spend several thousand to replace one part today than pay for major repairs tomorrow after a major breakdown or accident.

This applies both to cars and to various equipment and housing. Do not ignore the preventive repair times indicated in the instructions. Don't put off fixing a roof or a leaking faucet. Minor issues left unattended can lead to huge costs over time.

5. Store savings in the same bank through which you receive your salary

Of course, this is easier, because you can instantly transfer money from your salary card to your savings account. But there is also a drawback: you can just transfer them back and spend them just as quickly.

Open an account or card with another bank exclusively for savings. Promise yourself not to charge these funds for other expenses (at least, unless absolutely necessary). So you will protect yourself from unnecessary spending and will move faster towards your goal.

6. Give up pleasure completely

If you want to save for some big goal (like retirement), it may seem like you need to immediately limit yourself in everything. This approach, like a sharp refusal of some food, usually does not work.

By giving up everything that brings joy, we feel unhappy and deprived. And this makes you want to abandon the economy and buy whatever you want.

Leave a small amount for hobbies and pleasures so that life doesn't start to seem unbearable. And learn to have fun with less. For example, instead of going to the movies and restaurants with friends, gather at someone's home. Cook dinner and watch movies together and you will find that it is just as enjoyable.