People's methods of planning income and expenditure are commented on by financial advice.
We collected recipes on online forums on how to learn how to live from salary to salary without getting into debt. They asked the economist personal finance specialist to estimate these councils' importance. Here are so many simple ways to save for the family budget. Let's explore its importance in this article.
Here are some amazing and simple ways to save for the family budget. Let's read it together.
Outline your family's revenue and expenditures to start. A budget lets you see where your money is going and highlight areas where you can save.
The basis for economically sound management is a budget. It clarifies where your money is going and promotes the decision-making process for saving and spending. - Financial Consultant.
Your family can spend much less money if you are a wise consumer. Always examine prices before making selections and keep an eye out for sales. - Personal Finance Professional.
Using energy-saving techniques at home may help create a better future by reducing your family's environmental impact and electricity costs. - Financial and Environmental Expert.
For what it suits: If you need to learn how to fit into a certain budget, stop spending the whole pay for the first three days and spend the rest of the month on bread and water.
How it works: all a family's monthly income is divided into five equal parts-envelopes. Spending the amount strictly from one envelope in a week is possible. The fifth envelope is for the month's tail, and the rest is put aside in the untouchable stock.
Suitable for those who haven't thought about financial discipline. If the family's income is floating, then densely, or with large loans, it will not work. Mandatory payments are to be deducted from the income and put in a separate envelope. The rest is divided into five parts.
Still, this method is good only for a limited time. For example, while the wife is on maternity leave, the family has to live on one salary of her husband because this method does not involve large expenditures and serious savings.
For what is suitable: to plan the family budget so that no one is deprived.
How it works: All the family's monthly income is divided into six piggy envelopes (imaginary ones can be possible, but at first, it is better to use ordinary paper).
10% - inviolable stock (it is better to store it on a convenient deposit)
10% - large family expenses (for example, for a future apartment, large appliances, or a fur coat)
55% - current expenses: food, utility bills, transportation, clothing, etc. If you cannot keep up with your monthly expenses, it's time to revise them and look for reserves to save.
10% - money for development and training. Refresher courses, purchase of business literature, etc.
10% - expenses for entertainment and leisure; Do not skip these expenses; investing in a hobby will not last long without going to the movies or theaters. Now and then, the question will arise: Why such an economy and when, in fact, live?
5% - charity. If possible, you need to help others. Then good will come back to you. This includes donations to charitable foundations, assistance to volunteer organizations, charities, etc.
This variant of planning the family budget is good because it can live for decades. But loans with such planning are not provided. A mortgage, for example, in our realities for families with an average income is more profitable than trying to save up on housing independently.
Doubts cause 10 percent for self-development: purchasing business literature is not so expensive, but professional development has limits. Short-term courses, seminars, etc. - are often just ways to raise funds from a trustful population. Before enrolling in them, thoroughly study the program to understand if you need it.
How it works: Monthly leave yourself the amount necessary for living, compulsory payments, food, transportation costs, change of wardrobe, and entertainment. You can find out how much you need to leave regularly, at least for six months, by counting your expenses. All that is overput on deposit to the bank, and choose the highest percentage of all offers. Well, if it's a deposit without the possibility of withdrawing the deposit. The percentage is higher, and it is more difficult to succumb to temptation and squander everything.
It's good that the nest is offered to be carried to the bank and not put under the mattress. But still, to generate income, money must work. That is, they need to be invested in the economy seriously doing it. A deposit is a good way to save savings from inflation. To earn big sums on them is unlikely to succeed. And by the way, when opening a deposit account, focus more on the bank's solidity than generosity. Remember that the insured deposits up to 11140 US Dollars, and try not to exceed this threshold if you are not sure about the reliability of the credit institution.
For what it suits: Your income allows you to make ends meet. But I want to go on a trip! Or change the car. Or make repairs in the bathroom.
How it works: Determine when you need to buy this item. Suppose next summer you need to make repairs in the bathroom, which will pull by $1600 (prices are approximate) until next June 10 months. So, every month, you must put $160 in an envelope. And the rest can dispose of anything. An envelope for enhancing motivation can be signed "on a new bathroom," or even better - provide a picture with the design of your dream bathroom.
Good for those who know how to set realistic goals. I will not want to change the Prius" to a Rolls-Royce for six months. There is a nuance if you plan to spend a long time pawning more because goods and services can rise in price. Another way is suitable for those with a stable income.
If suddenly life has put you in austerity, analyze spending. There certainly are hidden reserves. So, what often piles up the budget?
Public catering. Restaurants, cafes, and popcorn before a movie session. It is possible to refuse these expenses. If you know, this is not forever, but say to an early wage increase.
Snacks in the office. Carry food from home with you. Give up coffee from the vending machine: brewing tea or coffee is more profitable. And the water in the cooler is usually free.
Personal car. Most often, you can win several hundred dollars, refusing to travel on the route homework - home. Gasoline, parking, car washing - all this is unnoticeable by the end of the month is formed quite a decent amount.
Obsolete tariff plans for communication and TV; Get a rule - once a year to review contracts with mobile companies, Internet, and TV signal providers. Their services are constantly becoming cheaper for newly connected people. And if you are an old customer, you may be paying for the most unprofitable tariffs that have remained since "prehistoric" times.