You want to set and reach saving goals? Here are simple ways to manage your personal finance, start saving money, or work toward an emergency fund, all safe from inflation.

How to Save Money Each Month? 

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Can you guess our favorite S-word yet?🙃

This SPOTLIGHT continues the series of articles on budgeting and building your savings fund. In case you’ve missed our earlier articles, here they are: 

Financial Detox: How to Save Money After the Summer Break

Saving vs. Investing: Which One to Choose?

Check them out to discover some easy money-saving challenges and learn the difference between saving and investing.

How to protect your savings fund from inflation

 is one of the easiest money management tactics you can use. All you have to do is create a budget list or use a budgeting app to follow your recurring expenses that pop up during the month and then compare your total spending to your total earnings.

If there’s no room for savings, re-evaluate your expenses by dividing them into essentials (e.g. monthly bills) and extras (e.g. streaming services).

Even though it seems obvious, some little expenses are really the biggest contributors to unwise spending.

Here are several expense categories you can easily cut back on:

Saving tip #1: How to save money on groceries?

A photograph of various groceries near a piggy bank filled with 50 and 5 euro notes

We all know that grocery stores use some sneaky tricks to make us spend money mindlessly. Yet we sometimes fall for them.

To save yourself from impulse buying, make a grocery list before going to the store or shopping online. This way, you should be able to stick to your budget.

, skip the checkout aisle loaded with candy bars, sugary drinks, or chips you've been craving for. Your wallet will thank you.👛

, another way to avoid impulse purchases is to follow a simple rule: wait 24 hours before buying.

You may realize you don't really need that item. When that happens, you can put the money you’ve saved into a savings account and feel good about yourself.

Saving tip #2: How to avoid buying lunch every day

a photograph of a lunch box with home-cooked pasta and vegetables

You’ve probably heard this advice before: 

if you want to save money, stop eating out

Let's be honest, we've all tried, but sticking to it isn't easy, especially with all the food delivery apps out there. 

But here are some numbers that will show you how much money you can save by cooking at home. 

, according to the Bureau of Labor Statistics.

 and $1,670 dining out, according to a survey by food producer Sweet Earth Foods.

Imagine you go out for lunch Monday through Friday, spending $10 a meal. Looks like a good deal, right? In reality, you'll end up spending as much as 

So start preparing meals at home to save several hundred euros or dollars per month.

Saving tip #3: How to make yourself cancel streaming services and other unused subscriptions? 

A picture of a man deleting streaming apps from his smartphone to save some money

Many of us have a habit of signing up for that 30-day free trial and then forgetting to cancel it.

But do you really get your money's worth from the streaming service you subscribed to or the gym membership you got after your summer break?

If you want to save money, check your bank account statements to see what services, software, or magazines you're paying for.

 Done? You might have just saved yourself a couple of hundred euros or dollars a year. 

Of course, there are other things you can cut from your budget. In any case, these three savings tips will help you save some money for an emergency fund or a savings account.

A picture of colorful icons of a calculator, cash, a credit card, gold coins, a clock, and a bell

Saving for retirement, a house, or an emergency fund

 is not an easy thing to do. This explains why around 

So if you want to avoid that pitfall and start saving more, you can stick to one simple rule: 

an automatic transfer from your checking account to your savings account

. Each month, money from your paycheck will land in the savings account.

For example, if you transfer $400 every month, you’ll end up with almost 

: if you have any money left in your checking account at the end of the month, transfer it straight to your savings account. Even if it’s a small amount. 

. It's tempting to spend it on something fun, isn't it? But if that money is put in your savings account, there's zero temptation.

What inflation means for your personal finance and savings account

A piggy bank with a red arrow on top, photographed with a wallet, a lightbulb, and a cart

If you decide to keep all your savings in a checking account or in a savings account, there’s one thing you should be aware of: 

You’ve probably heard that inflation has been rising and is here to stay for some time. The thing is, inflation is eating away a large chunk of consumers' purchasing power, affecting 

And what about money sitting in a savings account

Let’s say you put your money in a savings account that pays you interest at 2%. This means that, a year later, you’ll have 2% more money. 

And the longer inflation lasts, the biggest implications this will have on your savings goals, such as saving for retirement or buying a house.

That’s why it’s important to pay attention to the inflation rate when you want to start saving money. In other words, you have to find an asset that can 

protect the money you save each month from inflation

Back up your savings with an inflation-proof asset

PAMP Suisse 1 kg fine gold bar on a light blue background

When it comes to saving and protecting your wealth, it’s always good to

The price of gold is measured with currencies. 

That’s why, when rising inflation drives up prices and lowers the purchasing power of cash,

For this reason, gold has historically been a 

 of choice when paper money starts losing its value.

Here’s an example with $35 and an ounce of gold:

they would both buy you a well-tailored suit.

 your $35 could maybe get you... a good pair of socks. With your ounce of gold now priced at $1,800, you can still buy yourself a nice suit with quite a bit of spare change.

In short, while an ounce of gold has kept its value, the purchasing power of the U.S. dollar has fallen significantly over time, mostly due to inflation and 

That means the money in your bank account has lost some value too.

How to save money each month: the wrap-up

How to save money for a house, your retirement, or your next vacation? Whatever your purpose, there’re 

a few tricks you can use to save money each month and achieve your savings goals:

Learn how to save on groceries, spend wisely when shopping online and do cutbacks on unnecessary expenses, such as unused streaming services. Soon after, you’ll start to save each month.

Spread your money around instead of keeping all your savings in a checking account or a savings account. In both cases, a significant chunk of it will most likely be taken away by inflation.

That’s why it may be a good idea to keep some or most of your hard-earned savings

Gold offers several powerful advantages as a store of value. Discover why more and more investors are turning to this precious metal.

What are the advantages of gold compared to other investments?

A look at the strong changes in demand in the gold sector y-o-y.

A Shift in Gold Demand Trends

Good thing central banks can't print gold. 😉

21.9% Annual Inflation... and Counting

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#Silversqueeze 2.0?                         

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