How to Save 1 million Per Month – Must Try!

How to Save 1 million Per Month – Saving is one way that you can use to raise money. By saving, you can make money from the income you have set aside. You could say, by saving, you have money without adding income!

Saving can be done for many things. You can save to buy something you want, an emergency fund, or just a savings account. You can set the nominal savings for yourself, depending on your purpose of saving. You can really, you know, save 1 million per month!

However, when saving, sometimes we are demotivated and not diligent. As a result, your savings do not reach the target within the allotted time. Here is a solution for those of you who want to save 1 million per month. Check out 8 ways to save 1 million per month that can make you addicted!

Also Read: How to Save Money with a 20000 Rupiah Note

8 Ways to Save 1 Million Per Month

how to save 1 million per month

1. Set Saving Goals

Before deciding to save, you must determine your goals for saving. By setting goals, you will be more motivated and remember your goals. Determine your goal of saving and write it down in a place that you see often so that you are more enthusiastic. You can also record it in the financial app!

2. Record Financial Flow

In addition to having a saving goal, you also have to be diligent in recording your financial flows. This is so you can see where your money goes, and how much you earn. By looking at the financial flow, you will have more principles in saving so you don't go too far in spending money. Also note the money you set aside for saving, yes!

3. Create a Savings Strategy

In addition to having a financial goal and flow, you must create a saving strategy that fits your financial condition. If you want to save 1 million per month, your savings should be enough 1 million in 30 to 31 days from the first time you save. With your financial condition that you have recorded in the financial flow, determine how much you can save to reach the target!

4. Stop Buying or Snacking That Is Not Important

When the strategy is mature, it all depends on the execution. So that you can still save without having to suffer financially, you have to be economical! Do not buy goods or snacks that are not your basic needs. Always think before buying anything. If you still have a lot of money left after setting it aside for saving, it's okay, really, buy a little. But, do not be wasteful, yes!

5. Use Discounts and Promos

Economical is not enough! If you can get a discount, why not? Hunt lots of discounts and promos at e-commerce or e-wallet. By getting a discount or promo, you can get many discounts that make your expenses a little less. When you're economical, discounts and promos are very valuable!

6. Cook Yourself, Bring Lunch, Reduce Costs

When you're thrifty to save, it's a good idea to also save on your basic needs. You can allocate expenses for food and transportation needs. Try to cook yourself at home, bring lunch to work or school, and reduce transportation options that can still be reduced. If the distance is close, you can walk. If you are far away, you can use public transportation!

7. Save Every Day

So that saving is not too heavy, try saving every day. Little by little, the results can be hills! Reported from CIMB Niaga, "According to Clark Howard, a consumer expert, saving should start from a small amount first but be done regularly". Try to make a strategy to save every day that suits your ability and financial condition. Most importantly, you have to be consistent!

Saving Scheme

saving scheme

To be able to save 1 million per month, you can do this step. The step is to save every day starting from Monday, and ending on the 30th day since starting to save. The rule, you have to save as much as 30 thousand a moment weekdays and 50 thousand seconds on weekends. That way, on day 30, your savings have reached 1 million! To make it easier to understand, look at the following schematic!

Also Read: Tips for Teaching Children to Save: Start Early!

That's how to save 1 million per month that you can apply! You can use the Pockets feature of the Whiz finance app to help you set a savings goal! Come on, save!