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 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.
Money Management for Purchasing Dream Vehicle
If you are still single, it is not a problem to use motorcycle for going to the office. The situation will change if you have been married with 3 kids. Surely you will not use motorcycle to bring each of them to the school until 3 times. Yes, you need a car!
Discuss with your spouse if both of you have decided to buy a new car. If you don’t have sufficient money to buy new car, then you can think about purchasing used car with good condition. How to buy new or used car without taking loan from bank or leasing? Well, you can do simple money management for this purpose. Firstly, calculate about down payment that you have to prepare. Mostly it is 30% from vehicle’s price. If you don’t have enough downpayment then you can cooperate with some advertising agency to promote their products with your car. Let them paint their products on your car as a mobile advertising. They will pay you as promotion cost. You can use this money for paying downpayment since most of this advertising cost is quite expensive.
For paying vehicle installment each month, you can have side job with your car. It is picking up students from home to school. So, you don’t spend a single cent for buying car, right?