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How to make money last the whole month is a doubt that many Brazilians have. Although most people think it's impossible, there are techniques for saving money. Check them out below. 

How to make money last the whole month 

Lack of financial organization is a problem in the lives of all Brazilians. In fact, one of the biggest challenges for consumers is to make their salary last the whole month. Although it may seem impossible, there are savings tips that can help. 

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To organize themselves financially, Brazilians often ask themselves: how to make the money last the whole month? There are a number of methods for improving your financial life, ideal for achieving your financial goals and saving considerable amounts of money. 

So, if you're having trouble keeping your paycheck until the end of the month, there's no need to worry. By applying these techniques in your daily life, you can see good results. Check them out below:

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1. Create a spreadsheet

At first, in order to improve your financial situation, you need to make a diagnosis of your spending. The biggest problem in this situation is the lack of money at the end of the month.

To avoid spending more than you need to during the month, create a spreadsheet and set yourself a target. Consumers need to record all income and expenditure. There are smartphone platforms that do this automatically. 

When consumers have control over fixed expenses, they don't spend unnecessarily. Remember to include fixed and variable bills in the monthly budget, such as electricity, water, internet, rent, etc. 

2. Talk to your family

If you live with your family, have an honest conversation about spending and create a plan together to make the money last all month. All members should be included, without exception. 

Obviously, the conversation with the children should be superficial, but they should be made aware of the need to save. To make the organization go smoothly, talk about financial education and create some rules. 

If necessary, tell them that the children will get a treat at the end of the month, as long as the financial plan is adhered to. Some parents or guardians tend to create a money challenge, which can make the procedure easier. 

On the other hand, if you live alone and don't depend on anyone, the procedure will be easier. In this case, you can create your own spreadsheets, setting yourself savings targets and goals. 

3. Create a budget 

Once you have a spreadsheet with all your fixed and variable expenses, the next step is to create a budget for the month. In this process, consumers need to answer honestly: what do I really need? 

With this answer, you can segment your money, dividing it into categories: food, leisure, housing, among others. The amounts of fixed bills should be included in the budget, mainly to find out what you can do with your salary. 

Some experts suggest creating a monthly and annual budget, including all taxes and amounts deducted from your income. With this information, consumers can discover the real possibility of saving. 

4. Consider the budget below the net salary 

In order to save money, consumers need to consider their budget below their net salary. In other words, always evaluate your salary downwards, taking into account all fixed and variable bills. 

In this sense, if you receive R $1,500.00, put in the budget that you receive R $1,300.00. In this way, consumers can build up a financial reserve and be prepared for any situation. 

This is just an example, so if you can't save R $200.00, create a budget that fits your reality. The important thing is to always consider your salary below reality. 

5. Don't make impulse purchases 

Even if you manage to set aside a certain amount of your budget for free spending, avoid impulse purchases. After all, this type of purchase can damage your finances, especially if you have a financial goal. 

Before making any purchase, consider whether or not it will compromise your income. Also, avoid going to the supermarket hungry, as this increases the likelihood of spending unnecessarily. 

6. Watch out for food 

Food-related expenses tend to compromise a large chunk of your budget. The problem is even greater when consumers tend to spend not only in supermarkets, but also in restaurants and deliveries. 

Be aware of these expenses and consider some strategies that can help you save money. Check them out below:

  • Before you go to the supermarket, make a list of the items you need to buy and stick to it; 
  • Never go to the supermarket hungry, as this can increase cravings and encourage unnecessary spending;
  • If possible, swap restaurant expenses and eat at home;
  • Consider taking a packed lunch to work; 
  • Take a snack in a cooler bag or other accessory in case you get hungry during the day. 

7. Limit your spending in categories

Consumers should create a spending limit for each category. Although it's not an easy task, over time this strategy becomes a habit in your life, greatly improving your financial condition. 

Expenses should follow a spending ceiling, i.e. create a spreadsheet with all the main monthly bills, such as: leisure, food, rent or mortgage installments, services, among others, and don't spend more than you set out to. 

8. Save on basic bills

Last but not least, it's essential to save on basic bills such as electricity and water. This is a great strategy for making your money last the whole month. There are a few strategies that can help:

  • Check for leaks in pipes and dripping taps; 
  • When brushing your teeth or shaving, turn off the tap;
  • Only turn on the shower or tap when you are going to use it;
  • Set a limit for bathing;
  • Unplug appliances when not in use;
  • Open the fridge as little as possible.

These simple actions can save consumers money on their electricity and water bills.

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