For example, if you know that you will need to change your car in the near future, you will have a stronger motivation to save money, plan for long-term goals, rather than just prioritizing savings goals. You can clearly and reasonably determine how to allocate your savings.

Knowing how to save money weekly will allow you to create a reasonable spending plan with your income, thereby helping you balance your income and expenses better with a monthly income of less than 10 million VND. Savings are not only useful in emergencies, but they also help improve your life; you can buy a house, upgrade your means of transportation, and enhance your surroundings to improve your quality of life.

Moreover, you can avoid unnecessary debts; with savings from a salary of less than 10 million VND per month, you can still create a reasonable spending plan. To do this, you can start with a weekly saving method before implementing a longer-term saving plan for first-timers.

Method One: Effectively Allocate Income with the 6 Jar Rule

In daily life, personal financial management is an important skill that helps us maintain stability and achieve financial goals. However, many people do not know how to start or feel lost when managing their finances. With the 6 Jar Rule, a simple yet effective financial management method, you will achieve stability and financial freedom.

Jar One: Necessary Expenses. In this jar, you should allocate 55% of your income to meet the necessary spending needs in life. These are daily expenses such as living costs, food, fuel, and other expenses. Allocating a large portion of your income to this jar ensures that you have enough money to cover necessary costs and maintain daily life. The second jar is for long-term savings.

The second jar is for long-term savings, or to pay for larger future goals such as buying a house, buying a car, or saving for retirement. You should allocate 10% of your monthly income to this jar; accumulating money over a long period will help you achieve long-term financial goals and create financial peace of mind.

Jar Three: Financial Freedom Fund. In the third jar, you should allocate 10% of your monthly income to invest in a financial freedom fund; you can choose to invest in income-generating investments such as stocks, investment funds, and other opportunities. Investing in this jar helps you create a source of passive income and continue to grow your wealth in the future.

Jar Four: Enjoyment. Life is not just about saving and investing but also about enjoying what you do. In Jar Four, you should allocate 10% of your monthly income to reward yourself with recreational and fun activities. This helps you maintain a relaxed and happy spirit while managing your finances.

Jar Five: Learning. Learning is an important factor in enhancing your knowledge and skills; in Jar Five, you should allocate 10% of your monthly income to invest in learning and self-development, which may include taking courses, buying books, or attending workshops. Investing in yourself helps you grow and enhance your value.

Jar Six: Helping Others. Finally, in Jar Six, you can allocate about 5% of your monthly income to help others and do charitable work once you have achieved financial stability. Helping others not only brings joy but also serves as a way to become a source of motivation for those around you.

Method Two: Track Weekly Spending Notes.

Managing your daily cash flow well will help you balance your income and expenses better and easily control your financial situation. Through this, you can timely adjust your spending more reasonably; to do this, you need to track and regularly record your spending levels to clearly understand your spending situation. This is also an effective way to save money, helping you adjust your spending plan reasonably. Depending on each person's circumstances, you can choose a suitable way to track your spending. For example, you can use digital banking apps or Excel spreadsheets to create spending statistics. This method is very convenient because you can use formulas in this software to quickly calculate expenses. Alternatively, you can record and track your expenses through a notebook.

Method Three: Keep the Change.

It's bigger than you think; the next way to save money I want to introduce to you is not to underestimate small change. Keep it for about a month, then check the amount of small change; you will be very surprised. Although small change has little value, the amount accumulated after one month or one year will amaze you. You can buy a piggy bank or find a box to store your change; at the end of each day, you can check your wallet or pockets for small denominations like 1,000 VND or 2,000 VND.

You can put it in the box or piggy bank; another way to save is to clean up items you no longer need and sell them; you might get a small amount of money. Save this amount to add to your savings. Additionally, you can use electrical devices wisely. Turning off the lights when leaving the house will help reduce your electricity bill; furthermore, cooking regularly will also help you save a significant amount on food expenses.

Organizing a saving spending plan requires great perseverance and determination; even with a low income, you can still be strict with yourself to achieve the desired savings. Learn to save costs from the smallest things.

Method Four: Create a Separate Fund to Keep Money.

This is an extremely effective way to save money, as separating your savings into a separate bank account will help you manage your money better and avoid using savings for unnecessary purposes. You can choose a bank to store your savings. This is a very safe option that many people prefer. You should open a separate savings account with your regular bank account.

Method Five: Set Savings Goals.

One of the best ways to save money effectively is to set clear goals; think about what you want to save for in the short term (1 to 3 years) and long term (4 years or more). Then estimate the amount of money you need by the time you can save it. Some common short-term goals include creating an emergency fund equivalent to 36 months of living expenses, preparing for a trip, or buying a car.

Long-term goals often include education for children, retirement planning, and home upgrades. A small tip to help you achieve your goals is to break them down into smaller, more achievable goals. Each time you complete a small goal, enjoy the feeling of success and use it to motivate you for the next goals.

Method Six: Identify Your Financial Priorities.

After considering costs and income, your goals will significantly affect how you allocate your savings. For example, if you know that you will need to change your car in the near future, you will have a stronger motivation to save money; plan for long-term goals instead of just prioritizing savings goals. You can clearly and reasonably determine how to allocate your savings.

Method Seven: Choose the Right Tools.

You should have multiple savings and investment accounts suitable for each of your short-term and long-term goals. Carefully consider the available options and consider factors such as minimum balance, service fees, interest rates, risks, and the time needed to achieve your savings goals by choosing the right tools. You can optimize your savings and achieve your goals most effectively.

Method Eight: Track Your Savings Growth Daily.

Review your budget and check your monthly savings progress; this not only helps you track your personal savings plan but also helps you detect and fix problems early. When you see your savings increase daily, you will also feel a stronger motivation to find more ways to save money and quickly achieve your goals.