The definition of money defines money linguistically as everything that finances and tends the human soul, as for conventionally it is a commodity that can be used in trade to store a certain value, as it is a unit of account, and the value of money is gained from its purchasing power, which may often decrease with the progress of years, as well as Money is considered the backbone of life, and the reason for its name is due to its importance and ability to achieve benefit and meet needs.
- The process of saving money and money is done by saving and depositing part of the money in a savings account or a savings fund or otherwise.
- A goal that every person seeks, and to achieve this, all debts must be paid, and a timeline must be set to achieve this goal, and an amount of money can be invested in a successful project or in the stock market, and money must be spent responsibly and looking for less expensive options, whether it is for housing Or transportation, or energy consumption and much more.
Cutting costs and saving energy so that money can be saved incorrect ways must be planned so that the goals are achieved within a certain time, by searching for alternative options that are less expensive, and in what are the following steps:
The biggest role in frying For expenses and expenditures and increasing the value of saving, which are:
- Removing luxuries from the budget: If there is difficulty in saving money, it is possible to work on removing luxuries that increase expenses such as working to cancel additional and optional subscriptions from internet packages and sports channels on which payments are made.
- In addition, it is also possible to own an economical car, so that it consumes small quantities of fuel instead of owning a car with high costs, and it is also possible to dispense with electrical and electronic tools that are not used in the home and that are not needed, by selling them or exchanging them with others that are more used and necessary.
- Buying clothes, furniture, and household items during the seasons of sales and sales, and from stores that sell at the lowest cost to the consumer.
Searching for less expensive housing:
The cost of housing is one of the highest costs that affect the budget, because housing needs a large amount of money and is one of the most important goals that anyone seeks, and to obtain it a large amount of money must be saved, in the event of renting, The landlord must be negotiated to obtain the lowest possible rent, as the largest amount of money can be saved in the savings account, but in the event of buying a house, you can resort to less expensive residential areas and housing instead of expensive residential areas.
Reducing food and drink expenses and expenses: by purchasing food supplies from wholesale stores, where large quantities can be obtained at lower prices, and it is also possible to eat a meal at home instead of eating it in the restaurant because that of saving money.
Reducing energy consumption: by turning off the lights when sleeping or when leaving the house, and it is also possible to invest in solar panels as they are energy-saving and less expensive.
Quit smoking and addiction to contraband:
- Smoking and addiction are one of the bad habits that first affect human health and lead to death, and it is also one of the habits that prompt a person to waste a lot of money, and therefore smoking and awareness of its long-term danger to health should be avoided.
- Addiction and the inability to quit expensive narcotic drugs.
- Specialized centers working on addiction treatment can be resorted to overcome this problem.
Spending money intelligently upon receiving the salary or money must be disbursed and distributed responsibly and intelligently in order to avoid any other expenses that can be dispensed with, and in the following are some of the ways that contribute to the disbursement of money in sound ways:
- Determine the basic expenses that cannot be dispensed with first, and spend money Among the essentials that should be prioritized are food, drink, shelter, and clothing.
- Allocating an amount of money monthly and keeping it in the savings account or in the emergency fund, so that this amount is allocated to emergency cases that may occur such as leaving work or facing professional problems, or other sudden matters that may cause financial distress.
One of the most difficult things to save and save money is debt, so these debts must be disposed of in the least possible time due to the benefits that result from them in the long-term, and in the event that there is more than one debt from different sides, the debts can be combined through one loan.
To reduce the interest rate.
Earning extra money through working on the Internet There are some people who are able to increase their effort and time for additional jobs with the aim of increasing income or improving the standard of living, and the ability to save money, and from these jobs, electronic jobs that are done through the Internet, and in what comes to a presentation of a group of them through which anyone can Earning money legally and then saving it:
Online student education: By giving online classes to students who face some academic difficulties in exchange for an amount of money.