It seems that I am earning normally, but money is constantly running out is the familiar situation? if you want to save your money you must read the post to the end you’ll understand what expenses are interfering with our budget and how to abandon them.
If you have any kind of addiction, then calculate how much you spend per month to satisfy your destructive desire. Usually, these are impressive amounts when it comes to, for example, cigarettes and alcohol. After budget planning, many people are amazed at how much money can be saved by simply abandoning the daily cost of insignificant 200-250 dollars. Think about where you can redirect this money and how much you can get more benefits from it!.
There were situations when you acquired something, and then realized that you had spent money in vain? This is called impulsive shopping. To avoid such situations, check complete detail with the help of the Internet about a required thing and make a good plane, think and decide.
And also do not rush to run to the store at the first mention of discounts and promotions, because it often happens that the stores in this way just let you in the dust.
No one knows what may happen in the future: refrigerator breakdown, illness, accident. For such situations, you need to have a stash so as not to get into debt and not spend the entire salary to the penny. Just save a little money from each payday (6-10%), and you don’t have to shake hands with all your friends to call for help.
Deposits in Banks
It’s not that deposits themselves are evil, but if you add every penny there and think that you earn a lot of interest. The fact is that rising inflation literally eats up your interest, and it turns out that instead of potential income, you just keep your money.
Instead of a deposit, it’s better to open an individual investment account with the bank and try to increase your assets at the auction (or transfer them to a management company that is interested in increasing your funds). Revenues may not be guaranteed, but in this case, they are potentially higher and certainly can overtake inflation.
Bank loans are still a pleasure because thanks to them a person can buy what he wants without delaying what he wants. But It is only the one side of the coin. Pretty quickly, you will get tired of overpaying interest on a product that is already yours, especially if the payment so inappropriately falls at the moment when the money is very necessary for another.
Often one loan entails a second, and then a third, fourth – and soon you find yourself in a real credit hole. Better be patient, plan your budget and start saving money for your purchase.