Personal finance: how to spend money wisely, use deposits, loans and microloans
Spend Money Wisely – Sometimes it can be very difficult to distribute your financial income. So that it will last until your next paycheck. In fact, the correct distribution of funds is a kind of real art, which is difficult to master, but quite possible.
How to spend money correctly
Many of our fellow citizens complain that they can barely make ends meet. Yes, the salaries of many categories of workers are, to put it mildly, low. But if you distribute the money correctly, spend it wisely, then you can forever forget about the need to intercept a couple of thousand before payday. All you need to do this is to be more careful about your expenses and introduce mandatory cost planning into your routine. Spend Money Wisely.
In terms of costs, you need to provide for a couple of mandatory points, which, as a rule, are fixed:
- rent – utilities, electricity, water, etc.
- contributions on existing loans.
In no case should delays and omissions of these payments be allowed, since this, as they say, is fraught with consequences. This means that this amount should be given the status of inviolable. Sometimes the list of “urgent” includes payment for music or art school for a child, and those who care about their health include a subscription to a fitness center. Many people transfer some, often a fixed amount of money to the deposit.
The question of the rationality of loans
There are often cases when you need to find a large amount of money. There is a bank loan for this case. The choice of a bank and a loan product is a difficult and responsible business. The portal will help you become more financially literate and learn how to choose the most suitable option , where useful articles written in an intelligible language are posted.
Consumer loans are generally extremely unprofitable to take. But in some circumstances, this is the only possible way out. It is worth taking a loan in the following cases:
- you need to buy furnishings for a new apartment;
- urgent treatment is required in Israel;
- got a profitable last minute ticket to the Dominican Republic;
- you need to prepare the wedding of the eldest daughter;
- the time has come to pay for the education of the youngest son at a prestigious university.
Contributions can be quite onerous, so it is not worth taking out two or more loans. But even large contributions, coupled with other mandatory payments, may have little impact on the quality of life if the remaining money is spent correctly.
Here are some guidelines:
- going to the store, you should know exactly what you need to buy and how much to spend – a trip to the mall with the goal “we’ll see what to buy” leads to unnecessary and often useless spending;
- you shouldn’t buy the very first “rag” in the nearest fashionable salon – it is better to dig in your closet, there may be very decent things that are in fashion again this season;
- buy delicacies less often – make do with simple and healthy food;
- do not go to the nearest business cafe for lunch – it is better to bring a lunch box with homemade food;
- try to store food in small wholesale stores – it is cheaper;
- avoid small shops – food there is more expensive, and their freshness is questionable.
Spending money wisely, you don’t need anything. Enough for trips to the amusement park, cinema and sports.