Every adult who has a job or a business has a monthly income. For employees, they may not experience significant changes every year, but for entrepreneurs, their income can go up or even down each year. With a limited income, employees must be able to manage their monthly salary because otherwise, they can borrow money to loan money every month. It’s a bad act in Business and Finance because they can get abruptly. There is nothing wrong if they read some of the suggestions below:
1. Create a Daily Financial Report
Keep the shopping receipts you get every time you shop. Record all your expenses on a daily basis. In addition to this way to help you find out where the money is used so far, it can also help you analyze what items you do not really need to buy in the months to come.
2. Have Two Or More Bank Accounts
Create two different bank accounts. Use one account for your daily needs such as, receive a salary, pay bills, and spend. And for other accounts, you can use special to save. Make a minimum amount of what percentage you have to save from your monthly salary. Do the same thing as the obligation that you must meet every month.
After you set aside for savings and monthly salary on daily necessities. But there is still excess funds from the salary. It is better you use these funds for investment by following Insurance, Mutual Funds, or buy gold or jewelry with high selling value. This is different from saving if saving you can pick it up at any time. In Investments, the money you keep in other forms and can not be taken whenever you want. This way not only keeps your money in place but also benefits you in the future.