Tricks to save money every month

Saving is easy if you know how

How many times have you thought that saving is impossible? Also, how many times have to tried to save without having a plan? Although it may seem far-fetched, saving money in times of crisis is easier than expected. It won't be easy at first, but, if you are committed and follow certain steps, you can cut your spending significantly (except for your fixed expenses). Aside from your fixed expenses, any payments that you can avoid will translate into extra savings. Therefore, the more willing you are to reduce your spending, the greater the reward.

At BBVA, we know how difficult it is to achieve a good savings account. Therefore, we want to offer some tips to help you make monthly savings and keep your finances in check. So, what are you waiting for? It's time to save!

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Use the six rules and achieve your goals quickly and easily

Get organized

When faced with the challenge of saving, the first step is to get organized. This means having a clear picture of how much you spend and how much you want to save based on your fixed expenses. From there, you can start to plan. The following six tips will make the process easier:

  • Set a budget: set a savings goal and use it as a basis to choose a monthly spending. You must stick to your budget because any mistake could cost you dearly.
  • Choose the best deals: nowadays, the internet makes it easier than ever to compare prices. A simple online search will help you get the best value for money for any products or services. There are also multiple online comparison tools to simplify this task.
  • Avoid compulsive buying: buying something on impulse that is not included in your budget, regardless of the price, can set back any progress you may have made. Try to avoid unnecessary purchases and think carefully for a few hours before buying something.
  • Be careful with online shopping: while it is true you can find fantastic deals online, try to only make essential purchases. Making an unnecessary purchase, however inexpensive, is still impulse buying.
  • Save any extra income: any additional income you receive each month should not be seen as a spending bonus. Hold onto this extra money and watch your savings grow. What's more, you'll be able to you face any unexpected costs without your account taking a huge hit.
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BBVA Goals account
The account that helps you achieve your savings goals.

Where can I keep my savings?

The time has come to decide where to put your money. If you are thinking about stuffing it under the mattress, we would encourage you to think about a different option. Firstly, this method does not protect your money against certain disasters and is also an incentive for burglars. Secondly, it does not generate interest at the same rate as the CPI (Consumer Price Index). Therefore, your purchasing power will decrease as the CPI increases.

Therefore, to stay on top of your savings with peace of mind, you should opt for other alternatives. One good option is the BBVA Goals account designed to help you achieve your savings goals. It has several advantages such as no administration or maintenance fees and the ability to access your savings at any time.

As you can see, reducing your expenses and improving your finances is not an impossible dream. If you stay committed and following these money-saving tips, the process will be simple.

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