Money- its one of the things that hardly stays still- in our wallets or even in our accounts. It is quite hard earned- which we all have to agree. . . We work our ass off for a whole month only to get a brief respite for 10 days- which is the maximum amount of time, when one has money in their pockets.
Question arises- Why? Why does money stay with us only for a shorter period of time?
Answer is quite simple- we don’t manage our finances well. We are mostly into careless expenditure during the start of the month, paying our bills, buying clothes, clubbing, partying, festival shopping and what not. So, why not try controlling our excess expenditure? Why not try saving money from the first week, so that we are bound to have some extra money by the month end or for emergencies.
Here, we discuss some simple tips for you to follow to properly manage your finances- to save small amounts of money, so that you don’t fall short of money when you actually required, or much worse into debts.
1.Make sure you leave at Rs 100 in all your jeans/ trousers pockets at the start of the month- and do check your pockets before you throw your trousers/ jeans into laundry. Replacing the money into another jeans.
2.Also, put a Rs 100 note in between your phone and phone cover/case- and completely FORGET about it. This way you are bound to have money in case of emergencies.
3.Make a note of the approximate expenditure you would need in a week, withdraw the exact amount you need- and do NOT sway away from the list you made. Then start stacking up coins or smaller notes that remain at the end of the week in your piggy bank.
4.Maintain an accounts book- where in you mention every little spending you made on the same day. Make sure you mention every little point- the money you lent, the money you borrowed, the accounts that you settled, the brief details on how you spent the money.
5.Maintaining the accounts book will help you realize the excess and useless spending of that particular week, and therefore you can then try reducing the excessive spending in the consecutive week.
6.Always forget your ATM card at home- that way you wouldn’t buy things you don’t need.
7.Make a list of grocery items you NEED – not what you want. And most importantly, STICK to that list.
8.Try investing in SIP or Mutual investments, or at least, a RD account for the beginners.
9.Try stacking the money in the “chor pocket” of your jeans or trousers.
10.Try avoiding the lunch or snacks at your office canteen by carrying home cooked food and store some soup packets, or biscuit packet and nuts at your office desk – you can munch on them without feeling guilty of putting on weight or spending money at the canteen.
Try following these methods and we assure you that you shall have more than 2000 bucks left in your account by the end of the month.
By:Archa Dave
