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Budgeting Can Save Your Life

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Budgeting Can Save Your Life

You doubt that Budgeting can save your life ?

Now read carefully and I am sure you will grab something lucrative in this article,

So you got paid.

Congratulations.

Now, you have two options

 1. You can set up a budget.

Or

2.b. You can start spending immediately.

We all know what the second option usually means you spend without caution,

your bank account deflates quickly like a balloon punctured with a kitchen knife

and you run out of money before the next payday.

Common sense judgment: Spending money “like you just don’t care” is not cool, it’s how people get broke.

And even if you trust yourself to be disciplined in spending,

without an actual plan for your money, it’s very likely you’ll go off track.

Hopefully, you can see the good sense in picking the first option.

Let’s help you do it.

A good way to set up a basic budget is to divide your income into three parts as soon as you are paid

You must learn this one thing which is

Stop Rushing To Buy Things

1. Essentials: 50% of your income.

This should include money for such things as feeding (groceries or meals eaten out).

transportation (fares or fuel costs), utilities (power, water etc.), airtime,

internet and savings for annual rent (which really should not be more than a third of your annual income).

2. Investments, savings and emergencies: 25%

Do not sit in the dark wondering how to grow your money.

Set up a savings goal on ALAT, add a percentage of your income automatically every month and cash in on the 10% annual interest that comes with it.

YOU MAY LOVE TO CHECK ✔ OUT THIS:   How To Grow Your Small Change Into Big Savings Small change

You can also explore stocks, mutual funds and bonds.

Just speak to a professional before you commit funds to anything.

3. Money to blow: 25%

This is your I-can-do-whatever-I-want-with-it money.

Go on dates, buy clothes and shoes, donate to a charity,

whatever. It’s up to you how you spend it.

A budget is one more step toward financial stability.

Take it and Budgeting Can Save Your Life definitely

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