No one is lucky enough to win the lottery every fortnight and never worry about expenses, but almost everyone has the joy of having a salary, which by the way, must last until the end of the month. A challenge!
The most common is to think that the solution is to ask for an increase and of course it can be! But it does not always work, earning more money is not so easy or fast and while that happens there are some responsibilities that as an adult we cannot forget.
But do not be discouraged, there are ways to make the money yield and much more from the account, so much that you can save a little every month.
Are you ready? Let us begin:
The first thing you should do is a budget of income and expenses, in this way you will know where all your money goes, once done prioritize fixed expenses and variables, with this simple step you will regain control of your money.
How much to allocate to fixed expenses?
For housing, including services such as water, electricity, gas, internet, cell phone plan and maintenance, you can allocate between 28 and 33 percent, no more.
A trick to live in peace is not to spend more than a third of the salary on housing, if this is your case, try to cut.
For food, whether in supermarkets or restaurants, you could invest between 13 and 16 percent of your salary.
For transport, allocate between 15 and 16 percent.
How much to allocate to variable expenses?
For clothes and services including arrangements, laundry or detergent, invest between 5 and 7 percent of your salary.
For health, insurance and medications, between 5 and 7 percent.
For entertainment, allocate 3 or 5 percent of your income.
Others such as personal care, gifts, cleaning supplies, tastes, between 3 and 6 percent.
And the savings?
The best way to save is to subtract your salary from the beginning between 2% and 10%, if you manage to moderate your previous expenses you can increase.
One more tip, goodbye to ant expenses! We spend most of our money on unnecessary everyday things. Have you done the accounts? Its a lot of money!
If you want to survive the month, adapt your budget as necessary. Download our template for free so you can calculate your monthly budget.