With modern life developing as it is today, all living expenses have increased in price. With a salary of 5 million, can you balance spending and saving? How to calculate to be able to spend reasonably but still have some savings?

Follow the article below, lamchutaichinh will tell you 7+ how to save salary 5 million should not be missed!

Set a spending limit for yourself

Setting a spending limit for yourself will make you squeeze as much as possible about your monthly personal expenses. Usually, the salary of 5 million is mostly for fresh graduates.

Set a spending limit for yourself
Set a spending limit for yourself

Some mandatory expenses such as electricity, house, water, meals, travel expenses, expenses incurred for a wedding, funeral or a certain party. Once you know these amounts in advance, you need to calculate and save a reasonable amount as soon as you get your salary back. For example, you can refer to the division as follows:

  • Rent: 1,300,000 VND
  • Electricity + water: 200,000 VND
  • Travel fee: 500,000 VND
  • Meals: 1,500,000 VND
  • Amount incurred: 500,000 VND
  • Total: 4,000,000 VND

These are the living expenses of anyone living and working in big cities like Hanoi and Saigon. If you set a spending limit for yourself and do it rigorously, you can save 1,000,000 VND per month for yourself.

Record monthly income and expenses

This is a popular way to manage spending and save money today. Recording monthly income and expenses helps you track and control your income and expenses. You will know what the money you have just spent is used for, and is it worth it?

Currently, there are two ways for you to record your monthly income and expenses

  • Use app notes, smart management.
  • Use a planner or bullet journal.

Both of these uses, you should form 3 main sections including: Date of receipt and payment, Purpose of using the amount, Amount. Finally, after every week or month, you need to recap how much you’ve spent. The numbers will clearly show the spending plan that you have used in the past 1 month. If it doesn’t make sense, you can revise your plan in the following months.

This is quite a useful and practical tip for those who are looking for a way to save their salary of 5 million.

Check prices before shopping

The shopping category always makes you spend a lot of money, especially for girls. So, what needs to be done to be able to save wages, still be able to buy the items you love.

Check prices before shopping
Check prices before shopping

Before deciding to buy, you should consider and find out the price of the product before buying, and ask the question “Is this product really necessary?” “Is the product suitable for the salary amount?”

Example: For a female friend, when a new hot trend dress came out this month, you wanted to buy it. First, you should consult the cost of that dress in accordance with the current salary or not? In your wardrobe, how many dresses are left that you have not worn, is that dress really necessary for you?

In addition, you can refer to and learn about a minimalist lifestyle, which is not only a way to save monthly expenses, a minimalist lifestyle also helps you solve a lot of problems around life.

See also: Apply 6 jars rule for effective savings

Instead of eating out, cook at home

There are studies that show that, instead of eating outside food, if you cook at home, you can save up to 20 million/year and it is also good for your health.

With today’s busy life, there are many people who choose to eat at outside restaurants to spend time off instead of buying food to cook at home.

Cooking at home, not only helps you to be healthier, controls your calorie intake better, but can also save you up to 20 million/year.

Besides, cooking at home helps you reduce stress, forget feeling tired, learn more cooking skills.

Group shopping or hunting sale

Currently, there are many e-commerce platforms such as shopee, lazada, sendo…. provides a wide range of quality items from home appliances, essential products, technology items, machinery, clothes, shoes. Moreover, e-commerce platforms always have a monthly sale program to thank customers. This is also an opportunity to help you both save money and buy necessary items.

Group shopping or hunting sale
Group shopping or hunting sale

You should gather the items that you need to buy into the shopping cart of the e-commerce platform. Hunt for valuable vouchers. When the trading floor updates the sale date, you can immediately buy the items.

Alternatively, if you’re not interested in shopping online, you can list a bunch of essentials, find out prices, and head to places like student markets to buy them.

This is a way to save a salary of 5 million that lamchutaichinh finds extremely useful. You can refer to it this way!

See more: Social Network Vitae what? How to make money?

Always think my income is less than 5 million

Maybe this is a new mindset for you. But this is an attractive way to save 5 million salary. With this mindset, think that your salary is only about 4,000,000 VND – 4,500,000 VND, even less. You will never exceed the spending level of 5,000,000 VND, your own thinking will limit your spending with 5 million VND salary.

Continuing to maintain this mindset, you will easily be able to save wages.

Use money to make money by saving money in a bank

In addition to thinking about how to reduce spending in daily life, with the ways lamchutaichinh showed you above. You can completely save from 500,000 VND – 1,000,000 VND and deposit this amount into a bank account to earn profit.

For example, you save 1,000,000 VND for the bank, you will have 12 million / year, 5 years will have 60 million.

From accumulating small to big, you will have backup savings to develop or use for a larger purpose.

Use a multi-compartment wallet

Have you heard of using a multi-compartment wallet to save money? This can also be quite an interesting way. First, you need to deduct a little money from your expenses to buy a wallet with lots of compartments. Or not, you can use a notebook.

Each wallet compartment will be an amount of money you spend with a specific purpose. For example, 1 wallet compartment you save money, 1 wallet compartment you put money on travel, another wallet compartment you spend money incurred… and similar with other wallet compartments with other purposes. If it’s a notebook, use the same method for each page!

In this way, you need to keep a cool head, a strong heart so as not to spend money mixed together!

Do not borrow, spend within the limit

What do you think if your salary is only 5 million, this month you have already spent 5 million, you need to borrow another 2 million. Next month you need to repay that 2 million, so you only have 3 million to spend next month. So with 3 million, you are not even enough to spend the basic living expenses every month. Then you borrow again. When will you get out of that vicious circle, if you don’t spend properly now?

With the information that lamchutaichinh shares with you on how to save money of 5 million as above, first set a spending limit for yourself, absolutely spend within the limit. Spend as much as you can, even if you have as much, spend less than half. Absolutely spend within the limit, so it is too good for a life with a salary of 5 million.

Small savings, bonuses

Small savings, bonuses
Small savings, bonuses

Those bonuses of 100,000, 200,000 or 500,000 that you get when you get a scholarship or during the holidays, don’t think that you will have to spend all this money. Because this amount is outside 5 million, outside of my spending plans.

If you can save, accumulate small to large, then your savings amount has also been increased to a good level.

Manage your finances with a daily spending tracker

Currently, there are many free apps to help you manage your finances, track your daily and monthly spending. Take advantage of these apps to use a reasonable budget. If you spend messy this month, when you look at the app, you can immediately learn for the next month.

Lamchutaichinh introduces you to apps to help you manage your finances such as Money Lover, Spendee, Money Manager, MoneyOi…


In addition, based on the information you update on the app, you can understand your financial situation, whether your spending is reasonable, what issues need to be adjusted…

Above are the 7+ how to save salary 5 million that lamchutaichinh sent to you. Besides, try and increase your income.

The article was edited by: Lamchutaichinh.vn


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