The month of January is a dreaded uphill for many especially after the festive season where most of us were Parte after Parte all month long. This doesn’t have to force you to live on a shoestring budget. A few simple skills can help you manage your money for the remainder of the month.
- Reduce expenses.
The question you have to work with is or “Can I do without this until the end of the month?” The internal discipline to keep yourself afloat is a make or break affair especially when balancing finances in January. Only spend on what is completely necessary.
- Evaluate priorities.
“Do I need this right now?” A new outfit could definitely make you feel better about yourself but it won’t be enough to house you. Cover the basics first and from what is left determine what will push you to the next level for the month. Always aspire to have better for yourself from where you presently are.
- Factor in saving.
A penny saved is a penny gained. It doesn’t matter how little your income could be there is always space to put away a coin for posterity. Save earnestly and it will payout in the long run.
- Buy used. Used doesn’t always mean lower quality. We all appreciate being the first user of our items but sometimes it is more about getting the job done. If you can buy a used car and get good service from it for up to five years. Consider the same principle in most of your purchases.
- Budget in
self-care and entertainment.
You are important to yourself over all else put in a budget for yourself. It doesn’t have to be anything fancy. As basic as a trip to the salon or a cup of coffee. Treat yourself to something nice that you can afford.
Life can hit us hard and throw us from financial comfort to wondering how to leave the house which you haven’t yet paid the rent. Regardless, we need to have a positive outlook and treat all our finances both in good and hard times with a disciplined focus towards our sustainable financial position.