It is the most effective and, at the same time, the simplest savings trick. Very few people know about this strategy, but once you discover it, you can’t stop using it. We are talking about pre-saving by transfer.

With low salaries, precarious lives and a thousand expenses, how do you manage to save? We explain a method that will help you achieve financial independence. Of course, you will have to be mentally prepared, emotionally trained, and this is perhaps the most difficult part of managing your own finances. Because the advice we will give you needs perseverance and persistence, two virtues that Spanish citizens do not always demonstrate, judging by the data.

In Spain, more than half of the population does not manage to save more than 50 euros a month, and those who do save do not usually increase their balance by more than 200 euros. The issue, experts warn, is not that we don’t have money to save, but that we don’t know how to do it. That is why dozens of methods are invented that claim to be the ones that will really fix our situation: cutting expenses, using apps… But none of these methods is as effective as pre-saving.

Save before you spend

The formula is straightforward, because it has only two steps. The first step is to open a second account, a savings account. The second step is to ask your financial institution to make an automatic transfer to the savings account at the beginning of the month, once you receive your salary. You can start with 5% of your income.

The trick is so effective precisely because it is so simple, because you don’t even think about it. This way you don’t have to rack your brains thinking that you are not meeting the detailed spending budget you have set for that month: the money simply disappears before you can spend it. Moreover, as this money will automatically go to another account, you will be too lazy to move it again. Before you know it, in two months you will start to see the balance in your savings account steadily increase.

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