If you want to buy a car without loans, the only way out is to save money. Is it possible to do this, without limiting yourself in the most important way, having a small salary and at all you do not know how to buy? Yes. In this article, we will tell you how to raise money to buy a car.
Planning is the starting point from which the further process of accumulation will depend. Any financial task starts with it, so you can't skip this step. We answer 3 questions. How much does the car cost? How long do I need to collect money? How much money can I save monthly? All questions should have a clear answer and the answers should be rational. It is unreasonable to plan to buy a car for $50,000 after a year, having a salary of $4,000.
Maximally concretize the timing and size and when calculating the timing, take into account possible unforeseen expenses. So that it was possible, for example, to pay for the repair of the microwaves, without spending all the money you have. You should also list all the bills. The maximum specific times and times are necessary so that you do not have to pluck out a couple of baked liquors for other purchases. For example, if you want to accumulate 10 thousand dollars in 12 months, then after a year you will take this money and buy a car.
Calculation of investments
Specialists of the financial sphere advise saving no more than 50% of the salary. Someone can easily collect money for a car, and someone should cut a lot of necessary expenses. To begin with, you need to write the size of the salary on the paper, and then the obligatory expenses. In the calculation, take the maximum amounts. For example: salary - $4,000; rent $750 Internet and telephone - $100; food - $1,000; clothes - $1,000; unforeseen expenses - $500 rubles. In total, you get $650 (the size of the monthly investment).
Finding a place to save
How to raise money for the car quickly, if the desire to spend is so big? For example, you want to buy a package at a burning price or update the interior of your apartment. So that there is no such expectation, it is better to choose such a place of saving, at which the probability of getting into the reserve is minimal or is not present at all. It is clear that if the money is in the closet, there is access to it at any time.
Therefore, it is better to choose more reliable storage. As an option, you can create a deposit in the bank. It is convenient, profitable, and reliable. An application for opening the tab is created directly from the smartphone, for example, for 12 months, and at every start of the payment, it is included in the schedule.
What to do if you have a low income?
There are a few rules and secrets of quickly accumulating money for a car with a low income.
Get rid of unnecessary things
If you have furniture, clothes, books, or any other things you don’t need, you can always sell them at a flea market. If you already have an old vehicle, you can always sell this car for cash and add this money to your savings.
Set the goal to put off at least 10% of the salary
Even with an income of $2,000, you can get $200 a month. It is worth a bit to cut down on your needs and you will already be able to accumulate money for a car
Discard items that you can easily remove
First of all, these are alcohol and cigarettes. Avoid taxis, if you just want to get some sleep in the morning.
Find one more work
Many people shift work, others work for five days a week but have 5-6 hours in the evening. It is a good amount of time to blog, tweak on a merchant's stock exchange, or sell self-made products. Everyone has the option to receive an extra income.
Before buying a car, it is worth checking your needs and choosing the car that is compatible with the size of the monthly investments on it. If the main thing is to check with a reliable vehicle, there is no need to choose expensive and new cars.
Some families don't think they can raise money, because all the salary is spent on needs. First of all, it is worth considering whether these are basic needs. Of course, if you pay your mortgage, you can’t do anything. But if this is a weekly service in the restaurant, the costs need to be checked. Then you can go in two ways, try to cut expenses or find some work. Some of the supplied options may seem unrealistic, but if you are really interested in how to raise money for a car with a low income.
If you rent an apartment, take a look at the options in the same area or nearby, but it's cheaper. Even better, if you want to find a house close to work, in order to save money on the road. Even if the size of the rental fee is reduced by $100-200 a month, this is already a good opportunity to spend this money on the car.
If you are accustomed to dressing in branded stores and expensive boutiques, switch to economy-class stores. Clothes and shoes there are cheap, but often not bad in quality.
In most stores, there are discounts, special offers, and even cards with cashback. It is profitable to buy in large stores. If you even buy 10 products with a discount, for one purchase you can save dozens of dollars.
Cards with cashback
With this card, you can pay in the Internet shops and ordinary shops, receiving a monthly percentage.
Anyone can get extra money if they have 2-3 hours of free time per day. You can get a second job, as well as work on the Internet. You can even monetize your own hobbies like sell handmade toys, knit and sew for sale or paint and sell pictures.
You can work as a babysitter, walk dogs, wash the floors in the evenings, etc. If there is a goal to quickly raise money on the car, any work will be good. On the Internet, there are a lot of ways to get a stable additional income. You can start a YouTube channel by filming educational or entertainment videos. For example, if you study mathematics well, you can shoot videos. Each video includes short advertising blocks, for which the author of the video receives money.
You can also help students with studying, paint, design and create layouts, write texts, etc. There are a large number of sites for freelancers, where anyone can work. It is also possible to sell your goods like pictures, embroidery, toys, and other DIY things.