How not to finish spending your salary before the next one comes

Earning money is difficult whereas spending money is easy. Therefore, it is necessary to spend judiciously. I have seen that sometimes a richer person is unable to manage his expenses because of extravagance whereas a poorer person manages is expenses successfully. A person should spend in such a way that he can save some money for future. Some guidelines for spending judiciously is given below:

1. Don’t buy what you don’t need

2. Don’t borrow to buy wasting assets

3. Have a saving habit; it helps you in rainy day

4. Don’t try to impress anybody with your clothes or cars

5. Avoid friends who make you go into debt because you want to belong.

6. Have annual financial plans

 

Lastly, salary is never enough. Put your money in assets that can yield returns. such as Money Mutual funds, T-Bills, Digital Assets etc

Source: Nairaland