Goals are set
By setting goals, such as planning a trip or raising funds to cover any emergencies that may come up (e.g. car repair), people are motivated to keep going.
The money should be put aside at the beginning of every month
Perhaps the biggest mistake most people make is that they try to put money aside only after they have paid up all their obligations of the month and, what is more, having bought whatever other consumer goods they may have desired. The important thing, however, is that the amount of money to be saved should be put aside at the beginning of every month and once all obligations have been settled. It is, after all, a personal reward, since this amount will be used later on to cover a small or greater need, whether an emergency or not.
Consistency is a priority
The "key" to saving money is time and not the amount of money. Even a few euros a month can build up to a sizable safety cushion in the long run. So, even if the amount seems small, in the long run it can turn out to be... a treasure!
Technology can be helpful
There are many products available in the market that significantly enhance the effort to save an amount money, helping users not only to get started, but also to remain faithful to their saving commitment. Indicatively, NBG offers Money Box, an personal savings account that acts as a savings tool in Digital Banking. It is a "smart" piggy bank that helps its customers set and achieve their savings goals, with no commitments about when they can "break" it and use the amount raised.
Apart from saving up, there are other ways to generate some extra income. For example:
Selling online
The internet has been a source of income for some, since they can sell things through specific websites. These can either be products that have already been used, but remain in good condition, with their price being adjusted accordingly, or handmade products.
Short-term house lease
At a time when the sharing economy is booming, short-term leasing of a property is always a good idea if someone wants to make an extra income. In recent years, in fact, room rental has been gaining ground in Greece.
Saving up stems from the assumption that any amount spent today reduces the amount of money left for oneself for tomorrow. With this in mind, it is important to focus on one's real needs, limiting excesses in terms of consumption, which will allow one to enjoy a future with dignity.
Sources:
Eurostat, https://data.europa.eu/data/datasets/gbfxqe2puqakbygclpobva?locale=el