How to save a million - how much do you need to save in order to have 1,000,000 rubles in your deposit?

The higher the income, the greater the need. Therefore, there is always not enough money. But if there is a goal: in the form of buying an apartment, a car, a long long trip, or something else, then saving the necessary amount is a completely feasible task.

So, to save a million rubles, you will need:

1. A clearly defined goal.
2. Understanding the accumulation period.
3. Optimization of existing expenses.
4. Constantly saving the necessary amounts.
5. The desire to make money work for you.

Now we’ll tell you in more detail about the main points that will help you save a million rubles.

How to manage your budget

Take a sheet of paper and write down all your expenses. Ideally, this should be done over several months in order to understand which expenses are regular, which are vital, and which can be safely abandoned. We add there the annual mandatory costs - insurance, taxes, etc.

Start keeping a family budget so you have an idea of ​​what you are spending your money on. The easiest way to do this is in Excel. You can use our table template. You can download it here. By changing the values ​​of your income and expenses, you will get the amount that you can spend per day in order to “fit” into the limits.

We record all your income in the same way.

By the way, if you pay in most cases by card, you can see your budget and expenses very clearly in your bank’s mobile application. Such functions are available in the applications of Sberbank, Tinkoff Bank, VTB Bank and many others.

All expenses will be divided into categories, and in each category you can see in which store the payment was made.

Stock

You can get the most income on your million if you include stocks in your portfolio. Investing in stocks can bring you double benefits: they can increase in value and pay dividends.

If a company's business develops successfully and its profits grow, then sooner or later this will result in an increase in its shares. As a rule, company profits grow faster than inflation, in which case shares are, among other things, a good protection of investments from inflation over a long period of time.

When making a profit, many companies share this profit with their shareholders, that is, they begin to pay dividends. You can use the dividends to cover your current expenses, or you can reinvest them by purchasing additional assets in your investment portfolio.

Investing in individual stocks is a rather risky proposition for most private investors. Few people try to analyze the business of the companies whose shares they buy, and those who try to do this often do not have sufficient qualifications and time to do it at the proper level. As a result, we often see a chaotic selection of securities in a portfolio without any strategy.

Investment funds

For most retail investors, investing in a broadly diversified global portfolio of index funds is a more effective move.

With an amount of 1 million rubles, you can safely enter foreign markets, where you will have a huge selection of index funds from the world's leading providers, such as iShares and Vanguard.

For example, the Vanguard Total World Stock ETF (VT) allows you to invest your money in more than 8,800 stocks around the world. This fund has a compound annual growth rate (CAGR) of almost 10% in US dollars.

But, if your goal is to optimize taxation by taking advantage of tax deductions under IIS, then you can do this with the help of Russian instruments. In recent years, Russian management companies have released a sufficient number of funds to the market that can be used to build a global portfolio.

FXWO /FinEx Global equity UCITS ETF (USD fund into your portfolio , you will close a class of shares in your portfolio in one fell swoop, and with global diversification. The fund's investments are distributed among shares of large companies in countries such as the USA, Japan, China, Great Britain, Australia, Germany and Russia. The fund includes shares of more than 500 companies. The fund's return since the beginning of the year has amounted to more than 7% per annum in US dollars.

If you want to concentrate on individual countries, then appropriate funds may be suitable for you.

For allocation to Russian shares , you can choose from funds such as:

SBMX Sberbank Fund Moscow Exchange Total Return Gross Index

TMOS Tinkoff Moscow Exchange Index

VTBX VTB Fund – Moscow Exchange Index

FXRL FinEx Russian RTS Equity UCITS ETF

The first three funds, as the name implies, invest in shares of companies included in the Moscow Exchange index. Finex ETF tracks the RTS index. But in essence, these funds contain the same companies: Gazprom, Lukoil, Sberbank, VTB, Surgutneftegaz, NOVATEK, Magnit, Rosneft and others.

Among the funds focused on other countries, you can choose between the following funds:

FXUS FinEx USA UCITS ETF – Tracks the Solactive broad index of US large and mid-cap US equities (resembles the S&P 500, but still differs in structure).

FXIT FinEx USA Information Technology ETF – invests in an index of high-tech companies. It has been growing faster than the broader market in recent years. Its return over the last year was more than 40% per annum in US dollars. But not everything is so simple, because investing in high-tech industries is a riskier investment.

FXDE FinEx Germany UCITS ETF – invests in shares of German companies. The fund includes shares of such major German companies as Siemens, SAP, Bayer, Daimler, Allianz, Adidas, BASF, Volkswagen, BMW.

VTBE VTB Fund – Equity fund for companies in developing countries. In essence, it is a fund of funds: funds are invested in the iShares Core MSCI EM IMI UCITS ETF. The fund invests in shares of companies in countries such as China, Taiwan, South Korea, India, Brazil, South Africa, Russia and others.

Where to find extra money

We are looking for additional sources of income and preservation of funds:

• Study your expenses and cross out those that you can do without - coffee, hamburgers, chips, sweets, cigarettes. Moreover, you will save on medicines, because... If you give up these points, you will definitely get sick less. We are not saying that you should completely deny yourself pleasures. Instead of five cups in a cafe, leave one, and you will find it tastier. Instead of taking a taxi, use public transport. Look not for the reason why you cannot give up something, but for the opportunities that will follow.
• Learn to save. Create a piggy bank account. Many banks accrue a good interest rate on the amounts in such an account (for example, at Tinkoff Bank 5%). You can also open a replenishable deposit; later in the article we will find banks with the most favorable conditions.

Save at least 10% of your salary. If you can do more, great. If you can’t get 10%, put aside 100 rubles a day, 50 rubles and don’t say that it’s “kopecks.” If you do this daily, then within a year the amount for the first deposit on the deposit will accumulate - by putting aside 100 rubles a day, in a year you will receive an amount = 100 * 365 = 36,500 rubles.

Find sources of additional income:

• Get a card with cashback and interest on the balance, almost every bank now has them,
• Check whether you are entitled to tax deductions that allow you to return part of the personal income tax paid to the budget. Read more about them in our article here (link).
• Get rid of credit cards - they relax you and create a feeling of permissiveness, until it’s time to pay the bills.
• Disassemble the “deposits” of unnecessary things at home and sell the excess on Avito or Yula. Even though it may seem like pennies to you, maybe someone has been looking for this very thing for a long time, and an extra 500 rubles will be added to your piggy bank.

Learn to save. This doesn’t mean that you have to deny yourself everything, but you can’t even imagine how much money is slipping through your fingers.

How to save correctly

Reduce unnecessary expenses:

• Install meters in the apartment.
• Use energy-saving lamps - yes, they cost more, but your benefits from their use will be greater.
• Clean up the house, the windows (seal the cracks so that the heat doesn’t “escape” in winter and you don’t heat the room in vain), replace the radiators.
• Do you use radio? If not, turn off the radio. This is 205 rubles per month or 2,460 rubles per year.
• Do you watch satellite TV? Turn off the common house antenna, and you won’t have to pay 230 rubles a month for it.
• Home phone - does it still ring for you or do you just pay a monthly fee and conduct all conversations on your cell phone?
• Buy goods online - equipment, clothes, shoes, toys. No, be sure to “touch” everything in stores first, because... this is an important part of the process. And trying on clothes is quite important. But you can buy the same things online from the same manufacturers for 20-30% cheaper, since online stores do not have a large staff of salespeople and do not pay huge rental amounts.
• The paradox is that high-quality clothes and shoes will allow you to save your budget due to the fact that they will last more than one or two seasons. Therefore, do not chase cheapness, save quality.
• Learn to take advantage of discounts and sales - information about them can be easily obtained in the Edadil application.
• And most importantly, try to get additional education, improve your qualifications and increase your earnings. Find new opportunities for yourself!

Your main task is to allocate part of the funds that you can put aside regularly and start saving.

What is a million? This is a thousand times a thousand rubles. Or two thousand times 500 rubles.

Do you want to save up in a year? Please, divide a million by 365 days and we get that you need to save 2,740 rubles a day. This is a lot, and for some it is simply unrealistic.

Then let's get closer to reality.

The easiest way to save is to open a replenishable bank deposit.

Create multiple cash flows

Usually, when people in consultations ask me where to get money for investments, I respond by asking them about sources of income. And then something sad turns out. Most have only one source of income.

Therefore, the answer to the question of how to save a million with a salary of 30,000 rubles will be tough: no way, if you give a third of your salary to utilities, another third to pay off loans and repay debts, and the other third you are trying to make it to your payday. That's not how it works.

What sources of income can there be? Yes, very different:

• freelancing on the Internet;
• your own mini-business that grew out of a hobby;
• part-time work on an extra shift or on weekends;
• your blog with monetization;
• opening your own online school or courses;
• taxation or working as a courier.

There are plenty of options. I have already written more than once about finding additional sources of income - read this excellent article about the possibilities of making money on the Internet.

The main thing is not to get involved in dubious adventures such as HYIPs, binary options and financial pyramids created under the guise of a CCP. There you will only lose money, and not increase it. And you won’t see a million like your ears.

Comparison of bank deposit rates

On December 13, at its meeting, the Bank of Russia once again reduced the key rate by 25 bp, to 6.25%. For us, as consumers, this means two things: loans, including mortgages, will become cheaper - we should expect a decrease in interest rates, but deposit rates will once again be reduced.

What do banks offer us today?

At the end of December, banks traditionally introduce special “seasonal” conditions for deposits. The reason for this is easily explained: people receive year-end bonuses at work, and every bank wants customers to bring excess money to its accounts. However, even taking into account special increased interest rates, bank rates are not high:

1. The maximum rate on the “Open (maximum premium)” deposit is offered by Otkritie Bank – 8.1% with capitalization at the end of the term.
2. Following it is the “New Year's Dreams” deposit from MKB Bank with a rate of 7.7%, but without interest capitalization.
3. On this line is RosselkhozBank and its “Fix your income” deposit with a rate of 7%, with capitalization at the end of the term.

The average rate in banks from the top 10 is 6%.

Why do we pay so much attention to capitalization?

What is capitalization and why is it needed?

Capitalization (or compound interest) is the addition of interest received to the principal amount of the deposit. Thus, when accrued next month, you already receive interest on interest, which increases your income.

Let's look at an example:

Deposit of MKB Bank with a rate of 7.7%. The initial deposit amount is 50,000 rubles.

Thus, using capitalization in a year you would earn 138.83 rubles more, and in three years this difference is already 1,396.44 rubles. Over long periods of time (10-20 years) this amount is even more significant.

You probably noticed the line “effective yield”. This is interest income taking into account capitalization and deposit term. That is, if there is capitalization of interest on the deposit, your rate of 7.7% for three years turns into 8.63%.

When will capitalization come in handy? At the beginning of the year, the “seasonal” offers of banks will be replaced by standard ones. And in conditions when the interest rate in almost all banks from the top 10 will be at the level of 6%, you will already know what additional deposit conditions to pay attention to. All other things being equal, a deposit with capitalization is more profitable than without it, especially over long periods.

In addition, some banks have restrictions on the minimum deposit amount. On average it is 50 thousand rubles. There are banks that accept deposits from 1 thousand rubles (but the interest rate on them is lower). And there are those whose minimum amount starts from 100 thousand rubles and more. Therefore, to open a deposit, you will first need to accumulate a minimum amount.

What to look for when choosing a deposit

• Choose a bank from the top 10, maximum from the top 20. We didn't mention this in detail earlier because it goes without saying that your funds should be kept in a safe place. It is quite possible that a bank ranked 256th in the rating will offer you better conditions, but your peace of mind and guaranteed safety of funds will be more expensive.
• Minimum deposit opening amount. For example, Gazprombank has a “Your Success” deposit with a yield of up to 7.05%, which is available to people who have ALREADY achieved success, because... The minimum deposit amount is 1 million rubles.
• The presence of monthly capitalization is especially important for long-term deposits.
• Catch “seasonal” offers, as well as special conditions for certain groups of investors. For example, pensioners are often offered more favorable rates.
• Rates on “replenishable” deposits, which can be topped up throughout the entire storage period, are usually 0.5-1.5% lower than on deposits without the possibility of replenishment.
• The most favorable rates are usually for deposits with a maturity of 6 months to 12-18 months.

Well, now let's save our million.

Prologue

A million in our case is a conventional figure, a large amount of money that is enough for a major purchase. For some, this could be 300,000 rubles - the down payment on a small apartment worth one and a half to two million, or the down payment on a car loan. For some, this is really 1,000,000 rubles - if, for example, you buy real estate in the capital. What is important is not the size of the amount, but the fact that it is impressive and you will have to save for a long time and consistently.

There is such a phenomenon: no matter how much money a person earns, he spends it all. He earns 20,000 - closer to his salary he sits with empty pockets. I started earning 50,000 - the same story. Along with income, needs invariably grow, and it seems that there is no maneuver for saving. But this is not always the case; most often it is quite possible to set aside part of your income, even a small one, in order to save up for the necessary large purchase. The only important thing is:

• be prepared for the fact that you will have to save for a long time;
• clearly plan your finances;
• regularly save for the desired goal;
• competently optimize costs;
• Do not store money “under the mattress”.

And then everything will work out.

Examples with calculations of savings options for 1,000,000 rubles

Let's consider several options:

• average rate on deposits of banks from the top 10,
• deposit with an increased initial payment,
• a deposit with a small replenishment amount (let’s say you can save only 1 thousand rubles per month),
• deposit with increased monthly payments.

Thus, if you can save at least 5 thousand rubles a month, in 11 years you can save a million.

The accumulation period is most influenced by the amount of monthly replenishment. If you have the opportunity to replenish your deposit by 10 thousand rubles per month, then you will be able to become a millionaire in 6.5 years.

Is it possible to save a million faster?

Well, of course you can, but this requires larger amounts. Remember, as in the fairy tale: “You can’t cut seven big hats out of a sheep.” Let's calculate how serious the replenishment should be. For comparison, we will leave the minimum period from the previous table.

In total, 1 million can be accumulated in 2 years, but at the same time you will have to save 40 thousand rubles a month, and this is a very significant amount.

Make a replenishment plan

To calculate how to quickly accumulate a million, you just need to sit down and count