How to start saving money if your salary is small?

I make about 50 thousand a month, and almost all of it goes to rent, food and transport. I want to save up for a car, but I don't understand where to start. Maybe there are some ways to save money that I'm missing?

4 answers

★ Best answer

I'd recommend starting with the simplest thing - just track where your money's going for a week or two, there are often leaks you don't notice at first (subscriptions, coffee, small purchases).

Then set aside even a small amount from these 50 thousand - like 2-3 thousand - and open a separate account or envelope so that money doesn't mix with your main wallet. You can also start picking up some side gigs in parallel (freelance, odd jobs), they'll give you a buffer without cutting back on essential expenses.

And don't get hung up on saving a huge amount - even 1-2 thousand a month over a year gives you 12-24 thousand, that's already noticeable progress.

Even with that kind of salary you can still save, it'll just be a more modest amount. the main thing is not to get fixated on a car as your only goal, because that can drag on and demotivate you.

try opening a separate account and transfer at least a thousand a month to it right after you get paid, treat it like a mandatory payment - that way it won't end up in your everyday spending.

and about saving money in general: sometimes it's cheaper to buy something quality once than to buy cheap stuff multiple times, like clothes or dishes. people often miss that one.

A car is not what you should start saving for. With a salary of 50 thousand, it makes sense to first build an emergency fund, at least for a month or two of living expenses, and then think about major purchases. From what I see in the other answers, tracking your spending is a good idea, but I'd add this: once you figure out where your money's going, don't torture yourself by cutting back on everything at once. Try reducing just one or two categories that seem the most painful - it's actually easier than trying to save everywhere at the same time and then giving up on everything.

When I started saving myself, I spent a lot of time at first just confused about where the money was going. Then I noticed something simple: you don't need to cut back on everything at once - just pick one or two major expense categories and optimize those. For me it was transport - I switched to a monthly pass instead of buying individual tickets, and I saved almost 3,000 a month. For you it might be food (cooking at home instead of eating out, planning your purchases), or utilities (just being conscious about using electricity, without going overboard). Even modest 2-3 thousand a month adds up to 12-18 thousand over six months - that's already a real boost.

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