You have been working at company for over six months and are still having problems saving money. What could you do to increase your savings? How did the advice from Saving and Budgeting apply to your plan?

I would create a kind of plan where I can check where the money is going and how this interferes with the saving process.

Explanation:

6 months is a sufficient period to have a certain amount of money saved if this is not happening it is because some actions are not being carried out correctly.

What could you do to increase your savings?

To increase my savings, what I would do is to budget my expenses for the month. After making the basic payments such as rent, electricity, water, and food, I would see what are those expenses that I make and that influence so that I do not save money. If I tend to eat a lot away from home during the month, I decrease those days and put that money in my savings. I calculate the amount of food that I must have in the case and I do not buy extra things that can later be damaged. Impulsive purchases of clothing or any object are left aside and when buying I analyze how much I need that object.

How did the advice from Saving and Budgeting apply to your plan?

Making a budget helps you keep track of the things you are going to buy during the month, allowing you to get what you are going to save each month. The budget shows where the money is going and where it really should go. Without a budget, the person would have more difficulty saving as they would spend excessively and in the end, the savings would pay the consequences. According to what the person earns, it must stipulate a monthly saving, which must be met every month.