12 Aug Get control of your finances
When live paycheck to paycheck you may find your budget depleted
before the end of the month, this can be a sign you are living far above
your means. In some cases, this is due to some unplanned expenses.
These expenses can lead to you lacking money for everyday necessities.
Do not get discouraged there is a way to rectify this. Begin by
creating a budget. Without having a budget in front of you, more than
likely you will not be able to control your spending. A budget can
show how much money you have flowing in and how much is seeping out.
To begin categorize your expenses into fixed variables; urgent or
non-urgent; necessity or luxury; avoidable or necessary. By doing
this, you create a full inventory of your budget in front of you. When
you transform things into abstract or physical, the better you will be
able to grasp them. Create a ranking system of needs and decide what
you need to address first. It is all about priorities. You must accept
that you have limited resources along with boundless desires. However,
you must maintain your income. No matter how enticing you must control
your impulses to spend on frivolous items.
After undertaking all necessary expenditures, you can then designate
some money towards non-necessities. Avoid overspending by creating a
list for groceries or household items needed before visiting the
department or grocery store. You can also designate a day in the week
which you spend no money. Strictly adhere to your budget. Use it as
your spending guide as opposed to seeing it as a burden. By doing this
you will be able to stay within the confines of your budget and get a
better handle on your wallet.