How to learn to save money regularly: practical tips

Contents of the article

1. What are savings and why should you build them?
2. How to learn to save money regularly
3. How to save your accumulated money
4. How to save money if your income is irregular or you have debts
5. Common mistakes when saving for
6. How to start saving money: the simple method
7. Conclusion

 

Saving money regularly can be difficult: monthly expenses fluctuate, unplanned purchases come up, and by the end of the month, there may be nothing left to save. That’s why it’s better not to put off saving for later, but to make it a separate part of your personal or family budget.

You don’t necessarily need a high income to do this. It’s more important to determine the realistic amount you can set aside regularly, set a specific financial goal, and keep your savings separate from your daily expenses.

We’ll break it down step by step: the benefits of regular saving, how to develop this habit, where to keep your savings, and what mistakes to avoid.

 

What are savings and why should you build them?

Savings are the portion of your income that you don’t spend right away but set aside for future needs. They can serve various purposes: helping you cope with unexpected expenses, financing major purchases, or gradually building capital for long-term goals.

Broadly speaking, savings can be divided into two categories.

A financial reserve is money set aside for unforeseen situations: a temporary loss of income, urgent repairs, unplanned medical expenses, or other circumstances that cannot be accurately predicted.

Goal-based savings — money set aside for specific plans: a vacation, home repairs, a major purchase, education, a car, or other future expenses.

These two goals may require different approaches. An emergency fund should be accessible when needed, while funds for a long-term goal can be invested in instruments that offer a fixed term and interest income.

How much should your emergency fund be?

A common guideline is an emergency fund sufficient to cover 3–6 months of essential expenses. However, there is no one-size-fits-all amount.

The size of the reserve should be determined based on the stability of your income, the number of people you support, any outstanding loans, and other circumstances. For someone with a stable income and modest essential expenses, the need for a reserve may differ from that of a large family with a single primary source of income.

The emergency fund also does not necessarily have to be kept in one place. It makes sense to keep part of the funds readily accessible, while investing the rest in savings instruments appropriate for your time horizon and goals.

Saving isn’t the same as strict frugality

To set money aside regularly, you don’t have to give up all spending on enjoyable purchases, hobbies, or leisure activities. It’s much more effective to understand exactly what you’re spending your money on and determine which expenses align with your priorities and which ones you can do without.

For more details on how to cut back on unnecessary expenses without constantly feeling restricted, read our article “How to spend less and live better: a step-by-step guide”.

 

How to learn to save money regularly

A systematic approach helps you develop the habit of regular saving: setting a financial goal, determining a realistic amount to save, planning your budget, and tracking your expenses. This will help make saving a consistent part of your budget, rather than a random action depending on your balance at the end of the month.

Set a specific financial goal

Saving “just money” is harder than saving for a clear goal. That’s why you should determine:

• what you want to finance;
• how much you’ll need for it;
• by what date the amount should be saved;
• how much you need to set aside each month.

For example, if you need 40,000 UAH in 8 months for a planned purchase, the approximate monthly contribution will be 5,000 UAH, not including any potential returns from investing the funds.

For major goals, it’s helpful to categorize your savings by purpose. This makes it easier to track your progress and avoid treating all your saved money as a single available sum.

Determine how much to set aside each month

There’s no single “right” percentage that works for everyone. The amount should be enough to gradually move toward your financial goal, but at the same time realistic for your budget.

If you’re not sure how to save money effectively, start with an amount you can consistently set aside without cutting into your essential expenses.

If saving is difficult right now, you can start with a small amount. For example, if your income is 20,000 UAH, regularly setting aside 600–1,000 UAH per month can be the first step toward building a habit. What matters more than a specific number is the ability to repeat this contribution every month.

Experts at Agroprosperis Bank advise starting with an amount that you can consistently set aside without withdrawing your savings to cover current expenses. Over time, as your income grows or your financial goals change, you can adjust this amount.

Use the “pay yourself first” principle

A common scenario looks like this:

received income → paid bills → made purchases → spent the remainder → didn’t set anything aside.

Try changing the order:

receive income → set aside a specific amount → allocate the rest to current expenses.

This approach helps make saving a regular habit rather than something that depends on how much money is left at the end of the month.

Plan your family budget

It’s much easier to set aside money regularly when you understand how much income you have and what it’s spent on.

If you manage a joint budget with your family, it’s important to determine in advance your essential expenses, financial goals, and the amount you plan to allocate to savings.

For more details on planning your income and expenses, read our article “How to plan a family budget”.

Track your expenses

For one or two months, keep track of your main expenses. You can do this in a banking app, a spreadsheet, or a specialized service.

The goal of this tracking isn’t to monitor every hryvnia, but to see the structure of your expenses and identify categories that can be cut back on without significantly impacting your daily life.

If you’re already budgeting but want to take a more systematic approach to saving, you’ll find our article “How to save money: a practical approach to savings and financial stability” helpful.

Set aside funds in your budget for discretionary spending

Hobbies, getting together with friends, travel, and other enjoyable expenses can also be part of a healthy budget. It’s important not to cut them out entirely, but to set an acceptable amount for them in advance.

This way, saving becomes part of your financial plan rather than a constant restriction.

Take a pause before making unplanned purchases

For expensive or impulse purchases, it’s helpful to implement a “pause rule”: give yourself 24–48 hours before making a decision.

During this time, ask yourself:

• do you really need this purchase?
• is it included in your budget?
• will it force you to give up a more important financial goal?
• would you buy this item if you hadn’t seen it today?

This simple step helps you distinguish a real need from an impulsive decision.

 

How to save your accumulated money

Once your regular savings system is up and running, the question arises: where should you keep your savings?

The choice of investment vehicle depends primarily on your goal, the time horizon, and how quickly you might need the funds.

Allocate funds according to purpose

A contingency fund and money set aside for a vacation a year from now do not necessarily have to be managed the same way.

For a contingency fund, the availability of funds is key. For long-term savings, the investment term and interest income may play a greater role.

This approach not only helps you earn income from your savings but also avoids situations where you have to withdraw funds intended for another financial goal early to cover an urgent expense.

How to choose a savings instrument

Instrument	What it is suitable for	What to pay attention to
Current or savings account	A reserve and funds that may be needed in the near future	Access to funds, terms of income accrual
Term deposit	Funds that are not planned to be used for a specified period	Interest rate, term, early withdrawal terms, taxation of income
Separate accounts or sub-accounts for specific purposes	Saving for specific purchases or plans	Convenience of allocating funds and monitoring progress
Cash	A small amount for immediate needs	No income and the risk of reduced purchasing power due to inflation

If you might need the money at any time, accessibility should be your top priority. However, if the funds are intended for a long-term goal and can be set aside for a specific period, you may want to consider instruments that generate interest income.

At the same time, an interest rate does not automatically provide protection against inflation. The actual return depends on the inflation rate, taxation of interest income, and other conditions.

Agroprosperis Bank advises that when choosing an investment vehicle, you should consider not only the rate of return but also the purpose of your savings, the time horizon, and your need for access to the funds.

 

Deposits in Agroprosperis Bank

 

How to save money if your income is irregular or you have debts

Not everyone can set aside the same amount every month. The ability to save is influenced by irregular income, credit obligations, unexpected expenses, and the level of current income.

In such situations, the principle of regular savings can be adapted to your own financial circumstances.

What to do if your income is irregular

If your salary or other income comes in unevenly, a fixed monthly amount may be impractical.

In this case, you can set a different rule: for example, set aside a certain percentage of each payment. This helps maintain consistency even when the amount of income fluctuates.

For someone with irregular income, this approach may be more convenient than trying to set aside the same amount every month.

What if you have loans or other debts?

Having debt doesn’t mean you have to give up saving entirely.

Even a small, regular contribution helps build a financial habit and gradually build up a reserve. At the same time, it’s important to consider the cost of the loan and the terms of repayment. If a loan has high costs, paying it off may take priority over actively building up savings. You should make this decision based on your personal budget, the availability of a financial reserve, and the specific terms of your obligations.

You don’t have to wait until all your debts are fully paid off to start building a reserve. Even a small amount that you manage to set aside regularly can serve as a financial cushion in case of unforeseen expenses.

If your income is insufficient for savings

If you have virtually nothing left after covering your mandatory expenses, the answer to the question “how to save and set aside money properly” shouldn’t be based on setting a specific percentage for savings.

The first step could be to analyze your expenses and look for ways to cut back on non-essential payments. If that’s not enough, consider ways to increase your income—through professional development, changing jobs, taking on a side job, or other sources.

In this situation, even a small amount that you manage to set aside regularly can be the start of building a financial habit.

 

Common mistakes when saving for

Even a well-thought-out system may not work if savings are left to chance.

• Saving only what’s left at the end of the month. If savings depend on what’s left after all expenses, they’re often put off indefinitely. It’s better to set a specific amount in advance and include it in your budget as a separate line item.
• Setting an amount that’s too high. If, after setting money aside, you don’t have enough for essential expenses, you’ll have to dip into your savings. It’s better to start with a smaller amount that you can consistently set aside and gradually increase it.
• Keeping all your money in one place. Your emergency fund, money for short-term goals, and long-term savings may have different accessibility requirements. Allocating funds according to their intended purpose helps you better manage your financial plan.
• Ignoring debt obligations. Saving money while paying high interest on a loan can be unprofitable. Therefore, if you have debt, it’s important to evaluate not only the amount you’re saving but also the total cost of financing.
• Failing to review your financial plan. Income, expenses, and goals change. You should adjust your monthly savings amount after significant changes to your budget—such as an increase in income, the emergence of new recurring expenses, or the completion of one of your financial goals.
• Don’t give up after just one unsuccessful month. If, due to unforeseen circumstances, you weren’t able to set aside the planned amount, that doesn’t mean the system doesn’t work. It’s important to get back on track once your budget has stabilized.

 

How to start saving money: the simple method

If you’re just figuring out how to start saving money, you don’t have to overhaul your entire budget right away. Just follow these steps consistently:

1. Set financial goals—for example, building an emergency fund or saving for a specific major purchase.
2. Determine a realistic amount or percentage of your income that you can set aside regularly.
3. Set aside the specified amount immediately after receiving your income.
4. Keep your savings separate from your money for daily expenses.
5. Choose an appropriate savings vehicle based on your goal, time horizon, and need for access to funds.
6. Keep track of your income, expenses, and savings, and periodically check whether the amount you’re setting aside aligns with your income and goals.
7. Look for opportunities to increase your regular contributions by raising your income or cutting back on unnecessary expenses.

This is the basic answer to the question of how to save money properly: set a goal, make saving a regular part of your budget, keep it separate from your day-to-day expenses, and choose a savings method that fits your time horizon and goals.

 

Conclusion

Building a habit of saving money is possible regardless of income level — the key is to start with an amount that is realistic for your budget and make saving a regular practice.

Set a goal, assess your income and expenses, determine an affordable amount, and separate it from the money intended for everyday needs. If you are looking for ways to save money from your salary, one of the simplest approaches is to set aside a predetermined amount immediately after receiving your income rather than waiting to see what remains at the end of the month.

Over time, the system can be adjusted: increase contributions as your income grows, allocate funds to different goals, build a financial reserve, and choose savings instruments based on the time horizon and the need for access to funds.

This way, saving becomes not a one-time attempt to set money aside, but part of a long-term financial plan.