It is always a good feeling to the salaried people when it comes to the end of the month or the first week of a new month. This is simply because, this is the time that most of their bank accounts glow because of the pay cheque and the finances that they receive.

Some people have mastered the art of taking care of their finances so as to last them through the month while others cannot even account for their salaries because they don’t understand how they eventually lose all the money and end up being broke even before doing something meaningful with it.

Here are some of the simple tips to manage the salary and finances better.

You must first have a budget and make sure that you stick to it. This will help you to keep track of all your finances and it can also help you to do a good financial audit of your own money since you will know where each and every coin has gone to.

You should have a standing order for the recurring bills. There are bills that are always recurring and therefore the best way to treat them, is to have a standing order and treat them in order of their priorities.

Never walk around with a lot of money either in cash or in Mobile money. This will help greatly in solving the problem of impulse buying. Impulse buying is where you want to buy everything and anything even if you don’t need is. It is always driven by having too much money which is still unallocated.

Never try to solve each and every persons’ problems when you get the money. It is difficult to understand the relationship that salary has with problems of family and friends. In many cases, after getting paid, that is when everybody who has a problem want to run to you. You can never satisfy everybody because even if you do so, you will still run out of cash and you will even need to borrow in order to satisfy everybody.

Never get out immediately you get paid. This will make you to spend your finances lavishly and you may end up going home without nothing. Your pocket will cheat you that you have a lot and you will be the good Samaritan who will want to cater for all the bills even without sticking to your budget.

Always take advantage of the offers being given especially the ones that have to deal with internet and maybe entertainment like DSTV. This can save you a lot more because you will have to pay very less for some products and forget about them for some time because of sacrificing to take advantage of the offers.

Always buy groceries in bulk and you will enjoy later when you have no finances in your pocket to use for buying the groceries. This can greatly work if you have your fridge because it can save the food for a long period of time.

Avoid penalties at all costs. The penalties can either come as a result of late payments towards loans, rent or subscriptions. This will save you a great deal because you will not have to incur any other further cost in terms of finances apart from the one that you are expected to pay.

Avoid too much commitments, never be too busy for things that do not add value to your life. There is absolutely no reason why you should be involved in like five wedding ceremonies and five baby showers in the same month. All these occasions you cannot go with your bare hands, you need to commit your finances and also your time.

Avoid drugs including alcohol and any other promiscuity. This will help you to save a lot of money and finances and you will realize that the money that you could have used for this is too much and you can actually invest it somewhere and bring returns instead of squandering it.

 

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