If you are single, surely you are only one who must manage your own salary. Are you already precise in allocating your monthly salary? Do not let your monthly salary wasted.
Well, we will share some tips on allocating your monthly salary. Just for you 🙂
1. Allocate for your parents
Usually, single spend much money to have fun instead of a couple of husband and wife who take a burden permanently. Firstly, try to set aside money to your parents as help and devotion to them.
2. Set a Priority Scale
Frequently, our desire for having anything we want is a mistake, especially when the salary is already received. Now, don’t it anymore. Set your priority scale. What needs must be prioritized.
3. Don’t Forget to Save your Money
To save money, you should know which is routine expenditures and which is non-routine expenditures. Try to allocate 20 percent of your salary in saving.
4. Distinguish between Needs and Wants
The reason why people could not saving the money is less of understanding between needs and wants. Want is a desire to spend the money just having fun for a moment like spending money on a lifestyle from a café to a café whereas need is an expenditure that must be allocated if we can’t live properly. For example, meals, drinks, gas, electricity, and so on.
5. Motivate to Create the Future
Saving money is not the only way to be rich. The administrative cost may decrease your deposit. In addition, inflation causes decreasing the value of a currency. Thereby, you could not buy the same stuff in the next year. Thus, saving money must be allocated to invest as well.
6. Learn to Invest
Nowadays, you can access all information on the internet. Sure, you have to be smart to live with it. Learn and practice the instrument of investment which could grow and develop your money as much as possible.