Saving money sounds hard. But it doesn’t have to be. Tevan Asaturi, a financial expert and mentor, believes that anyone can build a strong savings plan. You don’t need to be rich. You just need to start small and stay steady.
In this simple guide, Tevan shares easy steps to help you build your own savings plan. He also explains why saving is important for your future. Let’s begin!
Who Is Tevan Asaturi?
Tevan Asaturi is a trusted financial coach. He helps people understand money in a simple way. Many people trust him because:
- He gives clear, honest advice.
- He has helped many people save money.
- He explains finance using real-life examples.
Tevan believes that financial knowledge should be for everyone. Not just for experts or rich people. He wants everyone to live better and worry less about money.
Why Saving Money Is Important
Before we talk about “how,” let’s understand the “why.”
Tevan says:
“Saving money gives you freedom. It helps you sleep better at night.”
Here are a few reasons to save:
- Emergencies – Life can be surprising. Medical bills, car repairs, or job loss can happen anytime. A savings plan helps you stay ready.
- Dreams and Goals – Want to travel? Buy a home? Start a business? You need money for that.
- Less Stress – Money problems cause stress. When you have savings, you feel safer and happier.
Step 1: Know Your Money
The first step in Tevan’s plan is: Look at your money.
You need to understand:
- How much money comes in each month (your income).
- How much money goes out (your expenses).
How to Do It:
- Write down all your income (job, side gigs, etc.).
- Write down all your monthly expenses (rent, food, transport, etc.).
- Find out how much is left after spending.
This leftover money is where your savings can begin.
Tevan’s Tip:
“Use a notebook, spreadsheet, or even a money app. Just make sure you track everything.”
Step 2: Set a Clear Goal
Saving without a goal can feel boring. That’s why Tevan says: “Give your savings a job.”
Some Smart Goals:
- Save $1,000 for emergencies.
- Save 10% of your income every month.
- Save $5,000 for a trip next year.
Your goal can be small or big. What matters is that it’s clear.
Step 3: Start Small, But Start Now
Many people wait to save. They think, “I’ll save when I earn more.”
Tevan says this is a mistake.
“If you wait, you’ll never start. Saving even $1 is a good start.”
Easy Ways to Begin:
- Save your change in a jar.
- Save $5 every week in your bank account.
- Cut one small expense and save that money.
What matters most is building the habit of saving. Like brushing your teeth, it should become part of your daily life.
Step 4: Create a Simple Budget
A budget is a plan for your money. It tells you where each dollar should go.
Tevan suggests the 50/30/20 rule for beginners:
- 50% for needs (food, rent, bills)
- 30% for wants (fun, hobbies, dining out)
- 20% for savings and debt payments
This rule helps you keep balance while still saving.
Tevan’s Reminder:
“If your income is low, adjust the numbers. Even 5% savings is better than 0%.”
Step 5: Open the Right Savings Account
Keeping your savings at home is risky. Tevan recommends opening a high-yield savings account.
Why It’s Better:
- Your money earns interest.
- It’s safe and insured (in most banks).
- It’s harder to spend quickly.
Ask your bank about options or search online for trusted digital savings accounts.
Step 6: Make Saving Automatic
This is Tevan’s favorite trick:
“Set it and forget it.”
Tell your bank or employer to automatically move money to savings every time you get paid.
For example:
- If you earn $2,000/month, move $200 to savings automatically.
- You won’t miss it because it’s done for you.
Automation removes the temptation to spend that money.
Step 7: Cut Small Costs That Add Up
Little things add up fast. Tevan says to check your spending habits. Here are some common leaks:
- Daily coffee shop trips
- Eating out often
- Subscriptions you don’t use
- Impulse shopping
Try this:
Cut just one small cost and put that money into savings each month.
Example:
- Cutting a $5 daily coffee = $150/month = $1,800/year
Step 8: Use Windfalls Wisely
A “windfall” is extra money you didn’t expect. Like:
- A bonus at work
- Tax refund
- Birthday gift
- Lottery win (if you’re lucky!)
Tevan says, “Don’t spend it all. Save at least half.”
This is a fast way to grow your savings without touching your regular income.
Step 9: Track Progress Every Month
Once you start saving, check your progress often.
Ask yourself:
- How much did I save this month?
- Did I reach my goal?
- Can I save more next month?
Seeing progress will make you proud and motivated.
You can use:
- A savings chart
- A mobile app
- A spreadsheet
Whatever works for you. Just keep an eye on it.
Step 10: Stay Flexible, Stay Consistent
Life changes. Sometimes you can save more. Sometimes you can’t save anything. That’s okay.
Tevan’s advice:
“Be kind to yourself, but keep going.”
If you miss a month, don’t quit. Start again next month. What matters is that you don’t stop for too long.
Common Mistakes to Avoid
Even smart savers make mistakes. Tevan lists a few to watch out for:
- Saving only what’s “left over” – Make saving your first payment, not the last.
- Dipping into savings often – Only use it when needed.
- Setting goals that are too big – Start with small wins first.
- Comparing with others – Focus on your journey.
Tools Tevan Recommends
To make saving easier, Tevan suggests a few helpful tools:
- Budget Apps – Like Mint, YNAB, or Goodbudget
- Spare Change Apps – Like Acorns (saves your extra cents)
- Bank Alerts – Set notifications for when money moves
- Spreadsheets – Make your own monthly tracker in Excel or Google Sheets
FAQs – Tevan Answers Your Questions
Q: How much should I save each month?
A: Start with any amount you can. Even $10 is fine. Try to aim for 10% of your income later.
Q: I have debt. Should I save or pay debt first?
A: Try doing both. Save a small amount and pay off high-interest debt faster.
Q: I don’t make much money. Can I still save?
A: Yes! Saving isn’t about how much. It’s about how often. Even small savings help over time.
Q: What if I have an emergency and need to use savings?
A: That’s okay. That’s what it’s for. Just try to rebuild it afterward.
Q: What’s a good savings goal for beginners?
A: Tevan suggests saving $500 to $1,000 as your first emergency fund.
Final Thoughts: Your Future Starts Now
Tevan Asaturi wants you to remember one simple truth:
“You don’t need to be rich to start saving. You just need to start.”
Start with what you have. Set a small goal. Use tools that help you stay on track. Over time, your savings will grow, and so will your peace of mind.
Every dollar saved is a step closer to freedom.
