How to manage your finances?
Let us reconfirm if you know how to.
Every person has this motto to themselves — money is meant to be spent. What they forget is to add a word after it — “wisely”.
Wise spending of money helps you retain and save your hard-earned money. You need to know that it is not about making your ends meet, it’s more than that. It’s also about your credit and the debt you end up with.
The decision to purchase anything that might cost a penny or a few hundred bucks is dependent on the budget and savings.
These are a few tips to help you —
- Kill the assumption. Do not assume what amount you could spend or how you could spend.
- We know you have a budget. Use it. Stick to it.
- If you plan to have a big purchase, save for it. Do not spend the amount without prior consideration for other bills.
- Limit the use of credit cards. It’s the start of a never-ending pit.
- Save regularly.
- Avoid debt. To know how to, read our Medium article How to avoid bad debt.
We know you know how to manage your finances. But it doesn’t hurt to dust up your saving skills by re-reading our article.