We often read that you should save 10% of your income every month. A figure that can certainly serve as an indication, but should in no way be considered as an absolute truth! In a previous article devoted to the elements to put in place before you even start saving, financial intelligence coach Nathalie Cariou was formal. This number “can be a little tricky if your ‘remaining life’ is low.”
The “rest to live” of which the specialist speaks corresponds to the difference between your income and your constrained expenses. “If your living allowance is comfortable, you might even have the ambition to save 15% to 20% of your income each month (…) If your living allowance is low, forget the 10% objective. .. but don’t forget to save anyway”, she explained then. The key is to save each month, even small amounts!
If you tend to have eyes bigger than your stomach, you may have already had this unpleasant experience: you put aside money at the beginning of the month, a little too much, so that you find yourself drawing in your savings after three weeks. Discouraging, isn’t it? To avoid this pitfall, prefer to save more modest sums, which you will offset with the money remaining in your bank account at the end of the month.
Do not hesitate to challenge yourself to save a little each day without realizing it. For example, you can save 10, 20 or 30 euros every time it rains. It’s a fun way to save money without breaking the bank!
