How to Start Saving Even on a Small Caregiver Salary
iSavta | 31.08.2025
Many caregivers believe saving money is impossible when salaries are not very big. After paying for food, transportation, small personal needs, and sending remittances home, there seems to be nothing left. But even small amounts, when managed carefully, can grow into meaningful savings. The key is to start small, be consistent, and create simple habits that protect your hard work.
Here are some practical tips to help caregivers save, even with a modest income:
1. Track Where Your Money Goes
The first step to saving is knowing where your money goes. Write down your expenses for a week or a month. Include even small things like snacks, mobile load, or coffee. Many caregivers are surprised to see how small daily expenses add up to hundreds of shekels in a month.
Once you see the numbers clearly, it becomes easier to decide what to cut back on and how much you can set aside for savings.
2. Follow the “10% Rule”
A good habit is to save at least 10% of your salary before spending the rest. For example, if you earn 5,000 shekels, try to save 500 shekels right away. Treat this as a bill you must pay to yourself.
If 10% feels too high, start with 5%. The important thing is to make saving a habit. Over time, you will adjust and maybe even increase it.
3. Separate Your Savings
Mixing savings with daily spending money makes it easy to spend everything. Open a savings account, or use a digital wallet that allows you to keep money aside. Some caregivers even send a small amount directly to a trusted family member or into an account at home meant only for future plans, not daily expenses.
When your savings are separate, you are less tempted to touch them.
4. Control “Wants” vs. “Needs”
It’s easy to buy things to reward yourself after a long day of work. But ask: “Do I need this, or just want it?” For example, cooking meals instead of buying take-out or cutting back on brand-new clothes can help you save a lot over time.
Small sacrifices today can give you bigger rewards tomorrow, like a retirement fund, a small business, or even a house.
5. Use Budget-Friendly Habits
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Cook at home instead of buying outside food.
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Share transportation when possible.
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Look for free or low-cost leisure activities, like walks, picnics, or community events.
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Buy only what you need, in bulk if cheaper.
These simple lifestyle habits help reduce expenses without making life too hard.
6. Set a Clear Goal
Saving is easier when you have a purpose. Instead of just saying, “I want to save money,” decide on a clear goal. For example:
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“I will save 30,000 shekels in three years for my family’s house repair.”
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“I will save for my retirement fund starting now.”
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“I will save for a small business when I return home.”
When you know why you’re saving, you feel more motivated and disciplined.
7. Avoid Unnecessary Debt
It may be tempting to borrow money to buy things quickly, but loans and credit can eat your salary through interest and fees. Try to avoid borrowing unless it’s for an emergency. If you already have debt, focus on paying it off as soon as possible so you can free up more money for savings.
8. Celebrate Small Progress
Saving money is not about how much you start with, but about consistency. Even if you save just 100 shekels a month, that’s 1,200 shekels a year. In five years, that’s 6,000 shekels—not including any bigger amounts you may add later.
Celebrate each milestone. Remind yourself that every small step brings you closer to financial freedom.
Final Thought
Being a caregiver abroad is not easy, and salaries may feel small compared to the responsibilities you carry. But by practicing discipline and starting with small steps, you can slowly build savings that will support your dreams and your future.
Remember: it’s not how much you earn, but how much you keep that will secure your tomorrow.
