How to save money

Marked on October 31, the day promotes saving and financial education. Saken Nigmashev, Bank CenterCredit’s communications director, shared practical steps for managing household spending.

Start with the money you already spend

Before setting a savings target, look through a full month of transactions. Your banking app’s spending categories can help show where the money goes.

Cash takes more effort to track. A withdrawal shows how much you took out, but not what you bought.

Nigmashev recommends recording what withdrawn money will cover before those details slip your mind. Budgeting apps can also help, provided you enter expenses consistently.

Pay particular attention to purchases that seem too small to count.

“Small daily expenses add up to substantial spending over a month,” he said.

For illustration, spending 1,500 tenge daily adds up to 45,000 tenge over 30 days. Seeing the monthly total gives you a clearer basis for deciding what to cut.

Make saving part of payday

Waiting until month-end means your savings depend on whatever survives the spending.

Nigmashev recommends moving money into savings as soon as income arrives.

“Make it your first action and your first transaction, and turn it into a habit. Call it ‘pay yourself first,’” he said.

An automatic transfer can make that habit easier to maintain. Choose an amount that leaves enough for essential bills and everyday needs.

What if saving 10% feels impossible? Start with an amount you can afford. The US Federal Deposit Insurance Corporation recommends this approach when a fixed percentage is unrealistic. Increase contributions as your budget allows.

Give annual expenses a monthly place

School supplies, birthday gifts and planned repairs may arrive outside your usual monthly routine. They still belong in the budget.

Nigmashev suggests estimating irregular expenses across a calendar year, then dividing the total by 12.

For example, expected annual costs of 240,000 tenge would require 20,000 tenge monthly. This is an illustrative calculation, rather than a recommended household budget.

He recommends keeping that money in a separate deposit account with flexible withdrawal rules.

Predictable bills also differ from emergencies. A birthday has a date; an unexpected loss of income does not.

The US Consumer Financial Protection Bureau describes emergency savings as money for unplanned financial shocks. It recommends keeping that reserve safe and accessible.

Add up installments before adding another

A small monthly payment can look manageable when viewed alone. Several payments compete for the same salary.

Nigmashev says shoppers need stable income and a clear limit for installment payments. He gives 15–20% of income as an example of a self-imposed limit.

That example is not a universal affordability rule. Rent, existing debts and essential expenses leave different households with different amounts available.

“If you are approaching your limit, avoid new purchases until you repay earlier ones,” he said.

Before taking another installment plan, total the payments you already owe each month. Then check how much income remains for other expenses and savings.

Check which purchases actually earn cashback

Nigmashev recommends reviewing card offers for different spending categories and individual retailers. These offers often change monthly, he noted.

Some customers use different banks’ cards to match purchases with available rewards.

The useful starting point is your existing shopping plan. Check which offers apply to purchases you already intended to make.

A reward on an extra purchase still leaves you spending money.

For illustration, 5% cashback on a 20,000-tenge purchase returns 1,000 tenge. You have still spent 19,000 tenge, assuming the full cashback applies.

Check recurring charges before cutting everyday pleasures

Review your statements for subscriptions, apps and services you no longer use.

Cancel unused subscriptions and set reminders before free trials end. For services you keep, check whether a cheaper plan meets your needs.

Plan grocery shopping around what you already have

Check your fridge, freezer and cupboards before making a shopping list. Plan meals around ingredients that need using soon.

Compare prices per kilogram or liter, rather than per package. Larger packs are only worthwhile if you can use or store the contents.

Plan for evenings when you have little time to cook. Keeping ingredients for a quick dinner can help you avoid ordering delivery.

Pause before making an unplanned purchase

If a purchase can wait, give yourself 24 hours before paying. For expensive items, take longer to compare options.

Add the item to a wish list and revisit it once the excitement fades.

Removing saved card details adds a pause before checkout. Turning off promotional notifications gives you fewer reasons to browse.

Break your monthly budget into weekly amounts

After setting aside money for bills and savings, calculate what remains until payday. Divide that amount across the remaining weeks, allowing for any extra days.

For example, 80,000 tenge over four weeks gives you 20,000 tenge per week.

Use this money for variable expenses, such as groceries, transportation and entertainment. Check your balance during the week, while you still have time to adjust.

Keep money for upcoming bills separate. Part of your account balance may already be committed to rent or loan payments.

Earlier, Qazinform News Agency explained how to apply for the US Green Card lottery.