Tips for managing your finances so you are not poor at the end of the month

 

Do you often experience poverty at the end of the month? Every time the end of the month comes you are always poor suddenly because the money has run out, when you just get the money it feels like the money runs out very quickly to pay for electricity, pay installments, buy this and that, pay for a boarding house and much more. What is certain is that your money seems out of control and your wallet seems to have its own hole that makes the money run out so easily it doesn't feel like it. Of course, situations like this often happen to those of you who are single and think about what if you are married and have children, husband or wife who you have to meet their needs. Of course, you can't continue to be poor at the end of every month, you have to learn to save money so you won't be poor at the end of the month.

So, you need to learn the basic principles so that your finances can be stable. In this article, I will discuss it. Let's read carefully!

“Minimize expenses, Increase income”

In managing finances, you need to understand one basic principle in finance and this is really the basis for you to learn and apply, namely in achieving financial stability you must pay attention that the money you spend must be less than the money you put in your wallet. then, you need to pay attention to the money you spend, you must have a plan for how much money you spend per day. This principle may sound quite easy to do, but in fact it is difficult to apply. Because it is certain that some of you don't pay attention to how much money you go out and how much comes in. If you don't apply these basic principles in finance, you will become someone who doesn't care about the finances you spend until one day your finances start to run low.

Well, for that, tips that you can do to minimize the possibility of you being poor at the end of the month by doing the following tips.

1. Budgeting

This method is actually very common, but you must be very lazy to do it. Even though this is very simple and very meaningful, try to do budgeting on your finances. You calculate your income per month and determine how much you spend, and after that you can review your expenses with the basic principles as I explained earlier, reduce the nominal expenses compared to the nominal income. 

Using this budgeting method, you can find out what your spending patterns are, and you can minimize your large expenses if they are less useful. For example, money for hanging out, snacks, shopping, etc.

2. Value Of Spending

The second thing you can do for this activity is value of spending so that you can reduce your spending in the long term. The of this point is spending < from income, and spending money by paying attention to the value of spending, which means if you want to spend money buying something, you have to pay attention to the value of what you want to buy, if it's not too important, it's better not to buy it, and only buy if it is very important. By paying more attention to the value of spending in using money, it will make you smarter in cutting things that are not important for you to buy.

Well, by doing the two tips I explained earlier, your finances will be more controlled, both in the short and long term. However, don't get me wrong with these tips. These tips teach you to be thrifty, which means being frugal doesn't mean cutting yourself off from buying whatever you want, it just lets you know more about buying things that are more important for you to survive and make you happy. If you insist on thrifting desperately then, this step is very wrong. Because things with you being frugal like that make you depressed and unproductive.

Well, that's all the tips of managing money. Hopefully Helpful, Arigatou Subete.

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