We all face the times when we get our stipend/salary, which makes us feel like Richie rich, and then there is this cursed time of the month when we figure out the deep hole in our pockets. This situation is as common as it sounds but let me tell you that you can manage it pretty well if you keep a few points in mind while splurging.
Here is how it can work wonderfully in your favour –
Prepare a shopping list
– Nobody is stopping you from buying the things that your heart falls for but I only suggest you to manage it well. You can make a shopping list monthly, which would include the things that are necessary to buy monthly plus one or two items that you have been longing to buy. If there are, more than two items then shift the remaining two for next month. This way, you will have your budget balanced plus you would be happier for the things that you can buy.
Make a monthly budget and stick to it
– This might seem to be tedious to you but it can surely save you from being broke in the middle of a month. Take some time out of your busy schedule and calculate your expenses; you should also figure out how much expenditure is unnecessary and allocate a fixed amount for each activity per month. This might get a little tedious initially but once you get the hang of it, you can handle it like a boss!
Shop when sales are on
– Be it an online shopping or traditional one, try to indulge yourself in shopping when there is a sale season. Prices are down during sales and come on you should be able to make your own style no matter if it is branded or none branded.
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Do not rely too much on credit card
– Yes, credit cards are one of the most convenient facilities that are provided by banks, but it is often advisable for you not to rely much on the credit cards. Psychologically you actually realise the value of your own money when you pay in cash and see the pennies actually slipping off your hand. Hence, always opt for cash instead of credit no matter how tempting the facility is.
The habit of saving
– Our parents have been yelling about us since ages but sadly we do not pay hid to this advice. Once you receive your salary, fix an amount, and do the old piggy bank kind of saving every month. You will be amazed to see the amount collected by the end of a year. Okay, this sounds childish but this definitely works if you religiously save without cheating at all.
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Mid-month, crises are not new but if you inculcate these habits they won’t meet you any longer. So try out what I have suggested and let us know if this worked for you too.
Got soe tricks to manage monthly expenses? Feel free to share your views in comments
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