The ease of conducting transactions online, the more allows us to be crazy in using money. Not even a few people do not realize where the money is allocated and just realized when approaching the end of the month, the account is empty. Are you one of them? Have you ever experienced one of the following things?
- Super-efficient life at the end of the month
- Depleted money is allocated to needs that are not so important at the beginning of the month (Coffee at Starbucks 3 times a day, refusing to eat in the office canteen, excessive online shopping, etc.)
- Money runs out before payday
- Do not have savings (the account is filled at the beginning of the month and is empty at the end of the month, and so continuously)
If you experience one of the above, chances are you are one of the people who has an empty account at the end of the month. That is, you are likely to have financial problems that are quite serious and require tips to manage your finances.
However, before discussing tips to overcome these financial problems, it’s good we discuss the causes first.
Causes of Blank Accounts
1. You Don’t Do Financial Planning
Someone who has good financial understanding usually does financial planning. They tend to regulate salary allocation, what percentage is used for daily life, what percentage of spending, what percentage to contribute, what percentage to save or invest. Well, if your account is empty at the end of the month, you can be sure you are not doing financial planning properly.
2. Less Savings and Investment
You can be sure if all your account balance is empty, meaning you have no savings at all. A blank account is likely because you lack savings and / or investment.
3. You Live Only Relying on Salary
A blank account at the end of the month is also likely due to your income only from salary. Less or mediocre income is sure to cause your account to be empty at the end of the month. Especially if there are sudden needs that are not small in number, it can be ascertained that the account is not only empty, but minus.
Now you already know the cause, now let’s discuss tips on managing your finances so that your account is not empty at the end of the month.
Tips on Managing Finances For a Non-Empty Account at the End of the Month
1. Try to make financial planning
The simplest thing and certainly you can do is to make financial planning. Make financial planning by regulating the use of money. The goal is to limit the use of money to your every need.
2. Record your expenses
In addition to making financial planning, try to record each expense so that you have a history of using money. This will be useful when doing financial planning for the following month, you can change the percentage of money allocation according to your needs.
3. Start saving or investing
Try to start saving or investing. If you are the type of person who is difficult to commit to setting aside money to save, you can submit a system for saving ePays to the bank. ePay is an electronic payment system that is made directly from a bank account, usually on a predetermined date. So, saving with ePay will automatically help you to save consistently, because money is automatically withdrawn on certain dates and cannot be used.
4. Don’t just rely on salary, look for additional income
Try to look for additional income, don’t just rely on income from one source. The simplest activity you can do is to sell online or teach private lessons. This will help you get extra income.
That’s the tips for managing finances that you can do so that your account isn’t empty at the end of the month. Apart from these tips, the most important thing is the intention to do it.