How to save? This is probably the question of many people, especially young people. Not having the habit of saving money makes many people, even though they have worked for many years, their savings seem to be at zero. So in this article, will recommend you 10+ effective way to save money Not to be missed if you want to get rich. Let’s get started.

Reasons why you need to save money effectively

Why save money the right way
Why save money the right way

Saving is a way to build a reserve fund to improvise with incidents, unexpected and unfortunate situations that may occur such as car breakdown, illness, illness, unexpected incidents at work, etc. People will have different ways of spending, but finding an effective way to save money will bring you many great benefits, such as:

  • Improve the life of yourself and your family
  • Minimize dependence and become a debtor
  • Have a reserve for unexpected and unpredictable situations
  • Helping you to spend more comfortably in life and help improve your own health and spirit
  • Limit discouragement, loss of motivation in work because of working forever but not feeling rich

Thus, in order to improve and develop your life, you should learn how to save money effectively right now to fulfill your desires.

10+ simple and effective ways to save money that cannot be ignored

Set a long-term savings goal

Set a long-term savings goal
Set a long-term savings goal

If you often think “It’s over for today, I’ll save it tomorrow”, “The more you save, the better”, “It’s good to save”, etc., then these are the temptations that will make you fall into the trap of indiscriminate consumption. And you will never have an effective way to save money if you do not have a sense or goal of saving.

Without specific purposes, it is very difficult to be able to save in a continuous and effective time in the long run. The first principle in saving is setting goals. You should set some money-saving goals, such as:

  • Save money for emergencies, unfortunately happen
  • Save money to pay off debt
  • Save money for small projects or planned plans
  • Save money for big projects such as business, buying a house, upgrading, home repair, buying a car, etc.
  • Saving money for retirement
  • Saving money to raise money for charity, helping those in difficult circumstances

And some other short-term, long-term goals or even those that are difficult to achieve but must have goals.

So, set short-term and long-term savings goals. The ultimate purpose of planning is like finding your way before starting a trip, when you know the way, saving becomes easier and more disciplined.

Fixed amount to spend weekly

In each month, you will have certain revenues and expenses. The incomes are usually fixed such as hard salary, allowance from parents, salary from working part-time, etc. But besides that, the expenses will always change.

To manage your expenses, weekly, you should only allow yourself to use a specific amount of money to pay for fixed amounts and can be more than that from 5 – 10% depending on your budget. needs, arising every month. If that month’s excess spending is too much, you need to seriously review those expenses to see if they are appropriate or not, and at the same time evaluate the level of need to plan a reasonable reduction.

Thanks to such actions, you will easily control your income and expenditure so that you have an effective way to save money. At the same time, you also need to consider and calculate carefully before making a spending decision.

Keep a record of your income and expenses

Keep a record of your income and expenses
Keep a record of your income and expenses

It will be difficult, even impossible, to control your financial situation if you do not know exactly what you are spending on. So right now, start making statistics of your expenses, thereby understanding your own money habits to have a suitable way to control spending.

Get in the habit of recording your expenses daily, weekly, monthly, and yearly in your notebook to help you keep track of your cash flow. From there, you will have an overview of your spending needs.

First, determine your total monthly income. Then, record all expenses, including expenses such as buying household items, buying food, etc., to house rent, electricity and water bills, internet bills, etc. Once you have enough data, take a look. categorize and group them into groups to know where the money has been poured, whether it is wasted or not.

Use your credit card only when you really need it

Credit cards are magical, they help you buy what you want even if you don’t have money in it.

But, in fact, this is a psychological trap that makes you think you have a lot of money in your savings account and can spend it freely. So, the solution for effective savings here is to use cash and try to use credit cards only when absolutely necessary.

Canceling unnecessary service packages on mobile devices

Service packages on mobile devices such as monthly 4G subscriptions, Netflix, monthly online app purchases, .. those things seem invisible but themselves are one of the enemies of savings.

At the end of the month, think about how often you use those service packages. While all the services you spend are useful, make sure you use them up and really need them so you don’t go to waste. Don’t be afraid to check your bills, especially those for mobile devices, to cut out services you don’t use.

Learn how to invest so that “money makes money”

Learn how to invest so that
Learn how to invest so that “money makes money”

Instead of keeping your money in one place or just saving it in the bank, you should allocate it into several amounts to use for different purposes. And for “money to make money” there is no better way than investing. People with a rich mindset always know how to seize opportunities to make more money, owning many different investments.

The investment will help the amount of money always increase and avoid the risk of devaluation compared to saving. Investing in a suitable market will give you an additional source of income. However, before deciding to invest, you need to have the knowledge and experience about investment to be appropriate and effective. Don’t be too reserved, but don’t take too much risk to take unnecessary risks.

Saving with bank savings service

If you are a person who does not dare to take risks, saving money with a bank savings account is also an effective way to save money.

Japanese people usually spend about 20% of their income in savings banks. This both helps them avoid keeping too much money on hand, and also earns more interest from the bank.

However, if you save money, you should choose savings packages with terms from 6 months to 1 year. And only save money that is not needed, avoid withdrawing money when it is not due to avoid causing additional costs and low investment efficiency.

Always buy good quality, affordable stuff and learn how to take care of it

Do not be greedy for cheap things, because the price will go hand in hand with the quality. Poor quality items mean replacing them over and over again. The best way is to choose to buy good quality, affordable and long-lasting products to save money effectively.

Besides, preservation is also an effective way to save money. It helps you to increase the time to use the item and save a lot of money when you have to change new items often.

Practice personal discipline, say “no” to unnecessary things

When starting out, it must be difficult because the temptation and the need is always there. However, once you create the discipline to think carefully before deciding to spend money to buy something, you will save a considerable amount of money.

So, right now, set your sights on the future and start finding effective ways to save money. Practicing personal discipline before shopping is like building muscle, it’s just as important that you have enough patience or not.

Create yourself an emergency fund

Create yourself an emergency fund
Create yourself an emergency fund

Incidents, no matter what, can take a toll on your economy, especially if you don’t have the flexibility to deal with other goals in the future.

Thus, building an emergency fund with an appropriate amount is also an effective way of saving. Because when there is an urgent expense incurred, you can cover it yourself without having to run into debt.

Why is it difficult for young people to save?

Currently, many young people go to work after a few years but still have not had a savings. The spending problem always makes you struggle to know how to save money effectively. Many of you often fall into a passive financial position, making it difficult to achieve your long-term goals. So what is the reason why it is difficult for young people to save?

Not focusing on saving

Some young people often think that “make money to experience”, so the money they earn is almost entirely spent traveling or doing things they like, while their savings seems to be zero.

If they don’t save, they won’t have enough money to deal with unusual incidents such as illness, disease, job problems, etc. Financial experts advise each person to forge a saving mindset as soon as possible. as possible to ensure that you can cover your personal expenses, in case of emergencies, and most of all, be financially self-sufficient.

No target

Many people, although still aware of the importance of saving, but do not have a specific goal, do not have the determination, so the savings plan is often left unfinished and leads to failure.

From now on, you should define a savings goal for yourself, such as spending that money to travel, go on a trip, buy a house, buy a car, etc. Then, continue to determine the detailed number. How much do I need, how much do I need to earn each month and how much money do I need to save?

Young people need to learn how to save
Young people need to learn how to save

Prioritize spending first, save later

Many young people often use their income to pay for their expenses first, and then save the rest of the money. However, if your income is not high and you spend a lot, you will not save anything.

When you receive a salary or any other income is transferred to you, you should immediately deduct a fixed amount from that income to save first. After that, the remaining money will be balanced for spending. This way will help you change your spending habits, not wasting money on unnecessary things.

Put all your savings in one place

If you put all your savings into one place or one account, you will have a subjective thought and habit of relying on the fact that you have a large amount of money left over. That leads to indiscriminate spending. Instead, learn how to create multiple independent savings accounts with different goals. Then you can easily observe the growth of each account separately.

For example, when you deposit in a bank savings account, if it is not due yet and you urgently need a small amount of money to spend, you can close a savings book, the remaining savings books will continue to be maintained. to receive profit.


Through this article, you must have found yourself some effective way to save money. Start saving money right now with a plan, specific goals and practical actions to build your finances for bigger goals!

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