Money Management for Single People
It is very easy to manage money if you are a single person. Unfortunately many single people do not have good money management after receiving payday. They always lack of money in the middle of the month.
How to overcome lack of money in the middle of month? Firstly, analyze your habit for spending money. If you always go to big restaurant and purchasing expensive clothes, so you need to reduce these expenses. You can eat healthy foods which are not so expensive in the cheap restaurant. Do not hesitate to move several percentage of your money into insurance instrument which has investment plan. If necessary you can buy gold as saving for your wedding plan. Well, you must be discipline to have good money management, so you can continue this habit until you are married. This small habit will give many advantages when you are in unfortunate situation like sick.
As a single person, you must think about future expenses which will be so high because of inflation effect. With good cashflow management from now on, you will be ready to face worse economic situation. If many single people do not ready for marriage because of their economic situation, so you are not one of them.
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?
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.