How to save money from salary

how to save money from salary

Create a budget and stick to it. Determine your fixed expenses and allocate money for them first.
Set savings goals and make them a priority. Automate your savings by setting up a direct deposit from your paycheck into a savings account.
Cut back on unnecessary expenses, such as dining out or subscription services.
Look for ways to reduce your fixed expenses, such as negotiating your rent or finding a cheaper cell phone plan.
Use cashback apps, coupons and discounts to save money on purchases.
Avoid impulse buying and stick to a shopping list.
Consider investing in a retirement plan or other investment vehicles to grow your savings.
Review your salary, compare it with the market and negotiate for a raise if you feel you’re underpaid.