Inmagine
We’ve all been there – a day when we’re a Ringgit short to get a train ticket, not enough cash to get yourself lunch, and a day you can’t keep up with your all the bills you have to pay. Managing your finances is really an everyday lesson. You find new ways to work around what you have as new financial commitments appear in your life. You may have heard these words of wisdom numerous times, but trust us – as boring as they are, they do help in so many ways.
1. Set a Goal
We all want to achieve something by the time were of a certain age. List down the things you hope to have by that time – a house, a car, have traveled an entire continent, etc. Use that goal to keep yourself focused on your budget. Think how you can obtain those things with what you currently have. That should already be enough motivation for you to achieve those things you want.
2. Spend Less Than You Earn
It’s hard to spend less than you earn when you make peanuts. Enough is never enough, according to the human mindset, but there’s really no way to change it unless you work three different jobs to put good food on your table. Try your best to resist buying things you don’t really need like a pair of shoes that are on trend when your current pair of shoes are still perfectly fine. You don’t want to be starving to death at the end of the month, do you?
3. Get Educated
If you want to make more money in the future, it’s best to get yourself enrolled in college to get a degree as people with college degrees make on average more money than people who don’t. If your goal in life is wealth, then consider getting a degree for a job pays well.
4. Beat the Urge to Splurge
Retail therapy is bad, bad, bad! You should never use money to make yourself feel good as although it might feel great in the beginning, you’ll be left with so much more frustrations than you did in the beginning. Sure, it’s nice to let out your feelings from past relationship by buying a new handbag, but that handbag is not going to distract you from your loneliness forever, if not during your ‘shopping high’. Try doing things that let you explore your creativity because honestly, the pay off will be more worth while than buying something new.
5. Have a Rainy Day Fund
We’ve all heard that it’s really good to save. Whether it’s all in a jar or in a legit bank account, your savings will be an important factor in your life when unforeseen expenses or emergency arises. Commit part of your monthly salary, at least 10% to savings, or if you earn extra money, put that in your savings to!
6. Pay On-time
Credit card bills, bank loans, utilities bill. Always pay all your monthly bills on time to not only avoid late charges, but they can also positively maintain your credit score. Pay your bills as soon as they arrive, or make sure they’re the first thing you do on your priorities list!
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