If you are struggling to make ends meet, if your account is quickly in the red it may be worth learning how to manage the money so that you can a full month with money and no worries. But managing money does not mean making a budget and sticking to it strictly is much more. We will explain how to better manage money to balance your finances.
Every month you have to honor the bills (electricity, water, telephone, condominium, car insurance, etc.), so in order not to go crazy with all the bills the first thing to do is to collect all the bills on an account and pay them automatically on the same day each month. So you are certain to pay the bills punctually and you will save fines or penalties for delays.
Another very important aspect is to organize the bank accounts. If you have accounts in different banks, you can try to consolidate them into a single entity, which, for example, will save you money when you transfer money from one account to another. This will also save you time in the process. If you have accounts that you do not use, close them. You must pay a management fee, so you will save them and your money will be better organized.
If you want to save, save your daily expenses. At first, noting all your expenses, whether you go to buy bread or shop weekly at the supermarket, may seem painful, but gradually you will get used to it. You should also note if you pay in cash or by credit card.
After a few weeks to note the expenses, a month seems a good delay, you can divide them into categories. One may include household spending, another food items, recreation, clothing, household bills, etc. In each category, you can differentiate between cash payments and those paying by credit card. Month after month, you will be able to compare your expenses in each category and know where you spend more.
After analyzing the expenses, you can consider whether you would prefer to use cash or cards, know when the biggest cash flows will arrive, and settle other expenses such as leisure, not Unbalance your accounts. Gradually, you will discover where you spend more, but if you start planning your expenses, you will balance them and start saving.
Check your expenses regularly. Keep your receipts, tickets, blue card, etc., and check regularly that there were no errors during the sampling. If you keep the receipts, you can always report an error or a levy that should not have been made. It is very important to control the payments you make.
If you invest, you must learn to assess the risk of each investment. Having a term is not the same as having a background or retirement plan, you should know at any time where it is best to place your money. To better manage your finances, you can find out. This will prevent you from buying too much or selling at a loss.