There are people I believe who aren’t meant to be entrepreneurs. And it is definitely not a bad thing. And often times than not salary earners complain about not having cash from the middle of the month.
Managing your income means you most likely would have spent you next salary yet to be paid in your account. And the only thing you keep thinking about is how to scale through the month and get your salary. hopefully these tips will help you to stop living from salary to salary
- Learn how to Budget
I personally practice this and I can tell you without doubt that it is a very helpful practice. Although difficult at the initial stage, it will definitely aid you to manage your monthly salary well, track your expenses and write down a budget.
- Put Emergency aside
Every month you have to make it a necessity to put money aside for emergency situations. This is not part of your savings o. This is best kept in a seperate account (that has no ATM or any means of easy spending). This is for Emergencies only!
- Scale of preferences
Cut down your expenses! Create a list of things you can do without. My darling, with a good working budget, you can achieve this. It helps to create free money which you can put into your savings and also get out of some kind of debts.
- Set spending targets
Like every area of your life, set money targets for yourself. After you to create a budget and have put some part of your income into your emergency savings, you can set a spending target for yourself each month. It creates boundries for you.
- Get out of debt
As a chronic debtor, this is for you. Find a way of getting out of it. It is a major reason you keep waiting for your next monthly salary.Because this has a way of eating into your income. A budget will help to know where you can find extra cash to clear your debts.