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.