Nowadays lifestyle in a big city and consumptive behavior society is like a need to be fulfilled. Especially for women who like shopping, this lifestyle causes you can’t save your money, even be improvident. When you fulfill this secondary need or tertiary, automatically you must spend more money to cover lifestyle like this although this expense is not a primer needs, but secondary needs or tertiary.
Managing personal finance is really important for all people, not only for women. Making accountancy can be done by all people, whatever their social status or monthly salary. One of the purposes is expense no more than income. If expense is more than income, you will borrow money to cover your needs and finally get debt. Income as much as anything you will never enough to fulfill your needs if you are never satisfied. On the other hand, cost of living always increases rapidly. If we can’t manage our finance, you can get debt. The following is tips to manage your personal finance. Please take a look.
- Set your finance purposes
First of all for money saving tips is having specific purposes to manage your personal finance; it will be easier to achieve what you want to. This is will be a motivation for you to save your money. By managing your personal finance, you will know what to buy and what not to buy, and can restrain your money for things unimportant.
- Set financial planning
Mostly people spend two-third of their income for three parts which are foods, housing and transportation. There is also payment of debt, household expenses and operational goods like entertainment. How to budget income and expense per month is cognizing number of income, which are salary, business profit, property rent, exchange dividend, depository interest and so on. By setting a financial planning, you will know what your priority is. If you find expense more than income, it’s time to start financial management better and wiser. In addition, you should make annual budget by allocating expense purposes in accordance with each part of expenses.
- Restrain yourself for sale offer
A shop is built to spend your money. Promotion offers like discount and entertainment gift are some techniques used to attract attention of customers. If we know their trick, it will make you be able to restrain sale offer. In addition, there is free shipping that makes you want to buy online as a choice. The easy way to avoid these promotion offers is say no to this offer, keep your eyes.
- Separate your needs and your desire
There is interesting tips if you want to manage your money, which is separating between your needs and your desire wisely. You really need to understand the meaning of needs and desire. Needs are something needed in a month, and you must fulfill. Whereas, desire is the will to buy something you want to, and you don’t need to fulfill it. If you want to buy something, it’s better if you save your money first because if you force yourself buying it, likely your money for a month is not enough because you allocate to others.
- Shop wisely
Other tip for saving money is shopping wisely. To save your money, you had better carry-out research of products you want to buy before visiting an offline shop. Product review site and online discount often give information about the way how to and which place to find the best offer. If you are looking for products you want to buy. Possible product prices in a shop can be more expensive than others. If you really need those products, and you find cheaper price stated in other place, don’t hesitate to move other shop. Then, investigating every expense for two weeks can filter what to need and what not to need, such as having food in the restaurant, shopping, taxi expense and so on.
Avoid buying if it is still possible to borrow or rent. If you want to a stuff used once or twice only, you don’t need to buy it because you can allocate your budget to other needs more important. This way is really important in financial management. The more you save the more you invest. If you have installment, try to pay debt off as soon as possible.
- Increase your extra income
Try another work as an extra income. Everything can happen nowadays. Lack of security in market nowadays makes anybody can loss their job or encounter payroll deductions. However, this situation can be improved by finding extra income. Try to search ideas about how to get extra money.
- Avoid debt
For money management, as much as possible you should avoid lifestyle habit in debt. Run your life in accordance with your ability and no more than your ability. Credit card and other debt should be stopped; especially credit card for consumptive purpose must be stopped as soon as possible.
- Save your money
Other tips for personal financial management are starting to save your money early. Make a habit to save your money because it is useful if one day you have financial problems. Once you know number of expense you must spend, the things you should do is setting aside some income to be saved. There are numerous advice to decide how many total of income to allocate the saving. Make sure no matter how much money your saving is not burdensome and lest you don’t have enough money to fulfill your daily needs. For example, you set aside minimal 10% of income. Ten percent is reasonable amount so that you have no objections to save. Next, make sure that your saving is not spent carelessly. Remember that this saving will be used to your future needs so that this money is not spent for something less important.
- Financial Investment
The way how to manage personal finance is investing your money for your better future. Nowadays a lot of company service which offers investment. Types of financial investment are various, such as land investment, apartment etc. Try to consult to trusted people for the right investment.