How to Manage Your Thirteen Salary Money
Companies will give thirteen salary for employees who celebrate Christmas, Eid Mubarak etc at least 2 weeks before due date of these religious events. Employees who receive these thirteen salaries will spend money for preparing religious events like purchasing new cloth, cookies, giving parcel and so on.
Employees should have good financial management after receiving money, so the money doesn’t go without saying. Firstly, employees should separate money for giving to the mosque or church etc according to their religion. Second, use this thirteen salary money for paying all debts. This will make you smile to pass victory day without any debts. If you still have rest money then you can use it for consumptive purpose like purchasing new clothes, new shoes and buying parcel.
In order to reduce your cost for giving parcel, it is better if you arrange the parcel by yourself. You can buy bamboo basket to arrange cookies, soft drink, candies and so on in the basket. Use nice ribbon to decorate the parcel and complete with meaningful card. It is true that religious event is only celebrated once a year, but it doesn’t mean that you have to spend all of thirteen salary money for this event.
Money Management for Couple
If you have been married, your money is her money, so does her money. Both parties’ money should be written into family accounting book. Decide together about the posts of expenses. If necessary you can make envelope system to separate the expenses. For example transportation expenses are in the orange envelope. Meal expenses are in the green envelope. Entertainment expenses are in the red envelope.
With these envelope system, both of you will be so easy to arrange family cash flow. This traditional method is very good to control your finance. If you want to skip this traditional method, you can use bank account method. Both of you should have same ATM which is only able to be withdrawn with certain agreement. You can make some percentage of financial management to withdraw money from ATM. For instance the money for meal can be withdrawn if not more than $100 per week.
If you already have kids, you must not ignore their needs. Do not only think about meal aspect, but think about their education and happiness too. You can plan holiday together if it doesn’t destruct your cash flow. Don’t forget to give several percentages of your salary to those who are unfortunate as a part of your sympathy.
Management on Using Credit Cards
How many credit cards that you have in your wallets? People who only have 1 credit card in their wallet have a green light or healthy credit management. People who have 2 credit cards can be categorized into people who like to prepare everything. They are afraid if one credit card doesn’t run properly, so they will use second credit card.
Well, if you already have 3 or more credit cards in your wallet, perhaps you should analyze your credit management. Do you use all of these credit cards, so all limits have been full? If yes, you are in the big trouble. You are a super shopaholic person and can’t control the expenses. Each time you see fancy goods, you are persuaded to buy them. You should think of closing these credit cards or even have no credit cards for a temporary until you are able to discipline yourself for using credit cards. Don’t let credit card as a trap in your cash flow.
Good financial management will develop healthy relationship. You don’t need to borrow money from your friends or family anymore. You can make a priority for spending money and achieve all dreams easily if you really have strong financial ability.
Money Management for Single Parents
It is hard to be a single parent, especially if you already have kids. You must be brave to face this situation. All you have to do is having good money management since you work alone without support from your spouse anymore.
Each time you receive salary, you have to put several percentage of the money into bank account which doesn’t have ATM. This will avoid you to take money frequently, especially if you are persuaded by sales people to buy their products. You should not take loan if you don’t have capability to repay the debt. It is very dangerous if you take loan without stable financial source. You will be super frustration as single parents. When you purchase goods at supermarket, it is better not to bring your kids. You can concentrate for shopping according to the prepared list. If you bring your kids, they will ask to buy goods which are probably unnecessary. Be discipline in your money management, so you will not regret in the future.
When you have been so discipline in money management, but you always lack of money, so you can think about new jobs or having side jobs after office hour. Surely you must not forget to give affection to your kids.