TIMESINDONESIA, JAKARTA â Isnât life much easier when you could manage your finance easily till the end of the month? Having things that you want, or buy something that you really need at the end of the month without having financial issue that you will run out of your money will be an amazing thing to have.
If youâre struggling with money management issues such a living paycheck to paycheck despite making more than enough money, then here are some tips to improve your financial habits taken from The Balance .
Have a budget
Many people donât budget because they donât want to go through what they think will be a boring process. But if youâre bad with money, you donât have room for excuses with budgeting. Trust me it will help.
Use the budget
Listing your budget is not the only thing you need to do, the next most important part is to use the budget properly. Refer to it often throughout the month to help guide your spending decisions. Update it as you pay bills and spend on other monthly expenses. At any given time during the month, you should have rencana idea of how much money youâre able to spend, considering any expenses you have left to pay.
Limit your expense
Sometimes, when you have any money left over, you will willingly to use it for certain thing you need. However, you need to limit yourself you can use it for fun and entertainment, but only up to a certain amount. Donât go crazy with this money. Before you make any big purchases, make sure it wonât interfere with anything else you have planned.
ï»¿ Get the best price offer
You can make the most of your money comparison shopping, ensuring that youâre paying the lowest prices for products and services. Look for discounts, coupons, and cheaper alternatives whenever you can.
Save Up for Big Purchases
The ability to delay gratification will go along way in helping you be better with money. When you put off large purchases, rather than sacrificing more important essentials or putting the purchase on a credit card, you give yourself time to evaluate whether the purchase is necessary and even more time to compare prices. By saving up rather than using credit, you avoid paying interest on the purchase.
Contribute to Savings Regularly
Depositing money into a savings account each month can help you build healthy financial habits. You can even set it up so the money is automatically transferred from your checking account to your savings account. That way, you donât have to remember to make the transfer.
Remember, to do this you need a good practice consecutively, over and over. Donât stop before you start. Just take it easy and make it fun and you will be the eksper to manage your finance. (*)