How to save money even on a low salary

That question in the title of our post is actually a million dollar question. How to save money even on a low salary? In this post, we talk about how to do that. Don't worry: we are not idealists. We work with the reality of thousands of Brazilian families from very different scenarios. 

Therefore, we bring here in the News Report a series of tips that are actually applicable to anyone. They are practical, with relatively immediate consequences and which, followed in the long run, will prevent you from having to ask the question in the title again. 

Let's go?

Tips for those who ask how to save money even on a low salary

For starters, let's forget about the low-wage thing. A salary that does not match the expectations of those who receive it is the most subjective thing in the world. What is bad earnings? What is winning well? Does this question really make sense, considering the diversity of financial realities in the country?

We don't think it does. What is worth emphasizing from now on is the correspondence between what you earn and what you spend. If you spend less than you earn, you have a lifestyle freer from financial problems than the person who does the opposite.

Also, it's important to consider not the lifestyle you have today, but the one you want to have in the future. Also add to that equation how soon you want to transition from where you are to this future reality. Is a long time? Is it something for now? All of this influences the tips we could give, but we won't.

The tips that we bring below will only help you to better understand your reality, the reality of your future and the methods you can use to bring the two closer together. 

Know where you stand financially

It's no use just thinking about how low your salary is compared to the lifestyle you want to have. In fact, it could be that your salary is low because you are already living a reality that you cannot afford. 

Understand: you are living what you want in the future with the resources you have now. The problem is that to live the reality of the after, you would need to have resources that you don't have today. In short: it's all wrong. 

That's why we tell you to know where you are financially. How much do you earn? Really gross salary? 

Now answer to yourself: I live the life I should be living on this salary? 

If the answer is no, follow the next tip. 

Increase your income

Wow, no one here talked about giving up living the lifestyle you want. If you don't want to lose it, make it fit into your income. That way, your salary won't be low for your lifestyle.

At certain times, the natural logic is that you work harder to earn more. To earn more by working less, in order to obviously save some of the money, you need to follow the guideline below. 

Become a professional of value and authority

When you acquire authority in a specific area, people stop wanting to see you work so that you teach them how to get where you are. That's why we see so many self-help books, motivational talks and coaching sessions. 

On the other hand, this is an extremely rewarding life. Think about how interesting it would be to live teaching, encouraging, supervising? That authority might not necessarily land you in a mentorship position. It may be that you simply follow a natural career path within a company.

It's natural to become a master when you arrive at this place of admiration. However, it's like we said, to get there you have to work hard. As far as finances are concerned, saving and investing money is responsible for much of the money you will have in the future. 

It all depends on what your goal is. What do you consider your end point as far as your career is concerned? What is the maximum? Work to get there. 

Complementing the issue of income, follow our last guideline.

save proportionately

If you earn more, save more. If you can invest a greater amount, invest. The rule of investment is the same: whoever keeps it has it. Consequently, whoever saves more, has more.

 Of all, perhaps this is the most important notion to learn for anyone who wants to know how to save money even on a low salary. If you follow our guidelines, it will only be low per hour. Good luck with the job!