Saving money every month is a common goal. People want a financial cushion, a dream trip, or a small treat, and there’s always a sound reason to save. Yet, building consistency with savings remains challenging.
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Daily expenses and unexpected events can make each month feel heavier. The aim is to close the month with a healthier bank balance and less financial stress.
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Today a practical and easy method is recommended to gradually increase savings without a lot of extra effort. This approach is called the AVP method.
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How to save money with the AVP method
The AVP method for saving money is a straightforward strategy that splits income into three main categories: Savings, Life, and Projects. These three parts form the AVP acronym. Below is a clear explanation of how this method works in practice.
Save money every month with this method. — Pixabay
This is how money can be saved every month without feeling like a burden
- Saving: With every paycheck, a portion is set aside for savings. A common guideline is to save at least 10 percent of income, and it is beneficial to save more if possible.
- Life: This portion covers daily expenses and necessities such as food, housing, utilities, transportation, and other essentials. While the exact percentage depends on individual circumstances, it is generally advised not to exceed half of the income.
- Projects: This category is for money allocated toward goals like travel, home ownership, or starting a business. The portion dedicated to projects varies with personal aims and how aggressively one wants to save.
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The AVP method stands out as an effective money management framework because it helps allocate income efficiently and supports short, medium, and long term financial objectives.
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By consistently directing a specific amount to each category, individuals can maintain steady savings while meeting basic needs and advancing financial goals.