Money Management after Receiving Salary
It is so common in many companies that employees are absent on the middle of the month because many of them will search side jobs since their salary money has run out. On the day you receive salary, it is for sure that all of your friends in the office will present too even they are sick. They don’t want to wait payday until next day. All of eyes will be so bright when receiving salary.
You have to manage your salary money, so you don’t get out of control after receiving this money. Good salary management will make you easy to spend money on priority scale. Start with your duty that you have paid each month like vehicle installment. Make sure that the debt is not more than 30% of your salary. Your meal, transportation and utility bills must not more than 30% too. You can separate 30% for purchasing insurance and investment.
The rest 10% must be a spare budget. It is for preparation in case you have emergency situation which force you to spend money. Nevertheless, you need to enjoy life too. Don’t forget to separate money for holiday purpose. This will make you enjoy meaningful life.
Debt Management Payment
Difficult economic situation forces people to think hard in solving their economic problem. Borrowing money to money lender is general option chosen by many people. Money that you borrow should be returned on time. If you aren’t, you need to have more amount of money. Many people are careless in borrowing money. When borrowing money, it should match with your financial capability. Good management is needed to organize debt payment.
When talking about debt payment management, you need to discipline yourself. You need to know when you need to prepare to pay your debt. Money should be available when the payment time for your debt has come. You shouldn’t use your money to pay your debt for consumptive activities. Scale of priority should be composed in order to make you stay focus to pay your debt. Place it at the number one of your list if it is very urgent and important.
When you pay your debt on time, you will finish your debt problem step by step. Finishing your debt problem, you can feel freedom from the responsibility of the debt. You can think about other problems in your life. People who are difficult to pay their debt, perhaps they don’t have good management in paying their debt.
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.