Save Now Buy Later (SNBL) is an effective strategy to save money for long-term goals.
It allows you to save money over a period of time and can have a positive impact on your personal finance.
In this article, we will discuss 3 quick steps to make the most of Save Now Buy Later.
1 - It Pushes you to Calculate your savings
In order to get the most out of SNBL, you should calculate how much money you can save over a certain period of time.
This can be done by estimating how much money you can save each month, and then multiplying that amount by the duration of the savings period.
For example, if you earn Rs.25,000 a month, you might be able to save 20% of it, i.e. Rs. 5,000 for this purpose.
Multiply that by 12 and you have a savings potential of Rs. 60,000 just by putting aside Rs. 5000 a month for a year!
2 - It Makes You think about Maximising your savings
Once you have calculated how much money you can save with SNBL, you should look for ways to maximise it.
Setting up automatic transfers from your checking account to your SNBL account, or setting up recurring deposits is an excellent way to do it.
Hubble Money allows you to do just that. You can set up an auto transfer for Rs. 5000 and sit back and relax.
(Further more, your money also grows an extra 10% in just 100 days with Hubble Money.)
You should also look for ways to reduce your spending and increase your savings so that you can save more money with SNBL.
3 - It Makes you look at the bigger picture
SNBL has had a positive impact on personal finance, as it has made it easier for you to save money for long-term goals.
SNBL also encourages you to think about your future, instead of focusing on short-term spending.
This can help you make better financial decisions and establish a secure financial future for yourself.