@FIN.IQ242 5 Tips to Save Money Saving money seems like a simple concept. However, few really understand how to be an effective saver. It’s more than just putting some money aside for a long-term goal or for a rainy day. Being an effective saver requires a strategy. If you are unsure of how effectively you’ve been saving, here are some tips to help you. 1. Pay yourself first . The mistake some savers make is saving based on what is left after they’ve paid bills and other expenses. The problem with this approach is that there will always be something you can spend your money on which can reduce what you have left to save. So, before you spend any of your income, take out the portion you’ve allocated for your savings as your first priority. Experts recommend that minimum of 10% of your income should be allocated to savings. However, how much you save depends on your income and expenses. 2. Track your expenses then create a budget. Most people have little difficult