Many times the horse runs with us when it comes to spending – and not many of us face it in January. The buzz around Christmas encourages us to get involved in the celebration, not to worry about material things, and by the time we realize ourselves, we’ve gone far beyond gifts, decorations, dinner, traveling, gasoline.
The good news is that this can be avoided
We do not have to run out of our financial envelope, and we can set it aside, for example, by taking advice from CNN Money.
Even millions can come together with a little care and the right financial arrangements .
Of course, advice tailored to the average American citizen – who typically earns 5.5 times more than a national average – had to be tailored to Hungarian circumstances, but the suggestions can still be followed. According to CNN Money, with some savings, the equivalent of $ 10 million in the US can be set aside in 3 years. This could be HUF 1.5 million .
What are the steps?
According to experts, we can realistically set aside 20% of our income, and many more have to give up quite a few things.
If we count on 200,000 monthly net revenue, we can save 40,000 forints every month. The point is consistency: this applies to the summer months, when money goes on vacation, or to the most critical month, which is – not difficult to guess – December.
The average person mentioned in the American example checked the level of spending five times a day and kept it in a spreadsheet using a computer program.
How can we increase our reserves even further?
It is worth putting the money in the bank. If we invest our money somewhere, for example, in interest-bearing treasury bills, you can expect it not to lose its value with inflation.
If you want to win even more, the best option is the Home Savings Bank . Then the state adds 30% to our monthly set-aside money, of course there are limitations: we have to invest the resulting amount in real estate. But real estate is a worthwhile investment that we can make great money in the future, so it’s worth considering. And if we vote for a voluntary pension fund , the state will increase our savings by 20%.