Many workers or employees start running out of money in the middle of the month. This happens because of mistakes in managing daily expenses.
No matter how big your salary is, if you can't manage your finances correctly and carefully, you will still run out of money in the middle of the month until the end of the month.
Here are some tricks for managing your finances so you can still 'breathe' until the end of the month.
Here is the explanation:
1. Don't ignore emergency funds
To keep your finances safe, you should force yourself to save. But that's not all, you also need to have an emergency fund.
This emergency fund is needed if you suddenly have to buy a new phone because it was stolen.
Or you may need money for medical treatment. Nobody knows what will happen in a month, so it's a good idea to have money set aside for unexpected needs. These unexpected needs can make your finances run out at the end of the month.
2. Separate budget for needs and wants
It is human nature that needs alone are not enough for humans. You must have these and those desires that are actually unnecessary.
To deal with this, you must immediately separate the budget for needs and the budget for wants. Don't spend all your money on desires and leave your needs unmet.
3. Check bills and obligations
One way to avoid running out of money in the middle of the month is to be wise about all your desires, even if they are reasonable.
Before you buy the items you want, remember if you still have outstanding obligations and bills to pay. Don't let your money run out for fun, and suddenly there is a bill that you have to pay immediately.
If this happens, you have to dig into the budget for other needs, and it's normal if your finances drag on even though it's only the middle of the month.
4. Plan your expenses
Another way to keep your finances safe until the end of the month is to record a plan for future expenses. You should already know what you want to buy with next month's salary.
By creating a shopping budget, you can know what are needs or just desires are.
You must be harsh on yourself by applying the principle of priority scale.
5. Separate budget from the start
In addition to creating a budget, you should also get in the habit of shopping regularly for everyday needs.
You can do shopping every two weeks. When you get paid, after deducting savings and emergency funds, divide your salary into two parts. For the first two weeks and the second two weeks. This way, you won't run out of money at the end of the month, because your living expenses are already prepared.
6. Carry monthly shopping notes
A strategy for keeping your finances intact until the end of the month is to bring notes when shopping. This way, you won't be reckless when shopping.
Get in the habit of making shopping notes, on what you need to buy. Use horse glasses too, so you won't be tempted to buy unnecessary items.