The tips are divided into three broad categories (" Organize yourself ", " Look at your income " and " Reduce your spending "), which, together, bring together all the basic steps for those who want to reorganize the Spending budget and for all, take control of their finances. Check out:
How to save money?
1. Record all your expenses:
How do you plan to control your finances if you do not know exactly how much you spending per month? This is the first step for anyone who wants to start doing their financial control. To help with this task, you have two options:
Save all the notes on the card and write down each of your expenses in a spreadsheet
2. Create goals for your expenses:
Now that you know exactly what your monthly cost is, you need to set goals for your expenses by dividing them by categories:
- 50% of the rent for essential expenses: all those necessary for you to stay in the day to day, such as housing, food, transportation, education, etc.
- 15% of income for financial priorities: If you are in debt, your priority will be to pay off the debts. If not, save for the future.
- 35% of income for lifestyle: all expenses related to hobbies and leisure, such as gym, beauty salon, shopping in the mall, etc.
3. Expenses Up, Income Down:
At the time you are setting goals for your budget, always round expenses up and income down. After all, his grandmother was already saying: it is always better left than missing.
4. Pay your bills on the same day:
Change the due date of all your fixed accounts to soon after the day your salary drops. This makes it much easier to organize. The money comes in, you already pay everything you owe and stay in the account with only the money needed to spending in the month.
5. Set deadlines for your goals:
Do you want to pay off your debts? Until when? Want to raise money to buy a car? How long from now? When goals are set, we are more motivated to meet them on time.
Posted on June 08, 2018 at 05:58 PM