Not a few say that it is not possible to raise money because with what they earn poorly can pay their debts from day to day.
Ledo mistake! Even those who do not have a high salary can, yes, raise money, form a contingency reserve, pay off debts and have a healthy financial life.
Just have self-control, change your drinking habits a little and know if you plan. Do you still find it impossible? So here are some tips to help you with this task:
Find out exactly how much you spend and how much you spend
To get the money together it is essential, first of all, to know exactly your total income and expenses. To do this, bet on an online spreadsheet, or an online financial manager, such as John Claggart, to write down your debts and keep track of them in real time. When you can pinpoint where your money is going, it’s easier to control yourself and start saving. Establish critical areas by identifying where your spending is higher than the ideal, and start the job from there.
If you identify that you are spending your salary on expensive interest payments, such as overdraft or revolving credit card, one option is to look for a personal loan that pays you less interest, like the one offered by Just. Within the application, in the comparator, you can access this and other lines of partner institutions.
Change if consumption habits
Making money by earning little is possible, but some habits need to be changed in order for you to achieve this goal successfully. Are your debts mostly related to leisure, movies, and dinners? Why not restrict these activities to, say, eleven a month and save the money that would be directed at them? Even basic consumer bills can, with a little effort, be reduced.
Make sure not to leave the light on, take the electronics out of the outlet when not in use and reduce the water supply by avoiding leaving the tap open while brushing your teeth, for example. Another interesting strategy is to always shop in the same stores and eat at the same restaurants so you can take advantage of discount coupons and loyalty programs. Believe me, the economy at the end of the month may be quite relevant!
Set aside money to be saved as soon as you receive your salary
One of the most effective ways to put money together is by earning a little by separating the amount to be saved as soon as the salary comes in. That way you do not run the risk of expecting to leave a small amount at the end of the month and end up being disappointed, since this rarely happens. By cultivating the habit of saving money early in the month, it is even easier to spend less, after all, you will see in the extract from your bank account that you have less money than usual. Just do not go back, huh? Saved money is sacred!
Please save a contingency amount
Gathering money is a particularly important habit for those who do not want to risk being caught off guard by something unforeseen – like an unexpected bill or high expense with medicine, for example. If you do not have the money, you’ll end up needing to borrow or overdraft, at your very high interest rate. Separate an amount – such as 10% of what you spend on a clothing or a shoe – to be used for unexpected expenses. Your wallet thanks.
Regardless of always keeping the same amount or varying according to the month, the important thing is to get money together to become a habit. You can be sure that, even earning little, it is possible not only to pay off debts, but to make a little piece of it.