When Will My Money Run Out
Managing money is one effective way that can be done so that the money you have does not run out. Like water that is put into a leaky container, then, without realizing it, the water will run out by itself. Likewise, with the money we have, if it is not managed properly, it will run out too.
Indeed, a person's lifestyle greatly affects their discipline in managing their finances. And sometimes the person cannot distinguish between what is needed and what is desired.
This will be a question for everyone in the world. Why is the money in your pocket now suddenly running out? All that remains is the minimum balance. Have you ever wondered why your money disappears so quickly? It doesn't take long for the money to flow everywhere. This is a problem for everyone nowadays. Therefore, let's analyze what causes fast money to disappear from you.
3 Reasons Why Your Money Runs Out Fast
Here are 3 reasons why your money runs out quickly in a short time, even in the blink of an eye.
1. Lack of Financial Education
How important is financial education from an early age? This will help you and your child prepare for life in the future. Worse yet, someone who is old but does not have a penny can finally only rely on their own child, and this will be a new problem that your child will eventually be burdened with. It's lucky if your child wants filial piety and respect for his parents, but not all children can be like that. Because your children have their own lives, and that's what you need to think about.
Many people from the upper middle class have applied financial education in their lives, so for those of you who are still at the bottom level in life, it is an obligation to follow it.
But what you need to remember is that how rich you are and how much money you accumulate will run out in a very short time if you do not apply financial education to manage everything. Even though you are a very rich and famous artist. Because money doesn't know who you are, if it disappears from you, it's over.because it prioritizes spending on lifestyle rather than more income.
For example, your income is $2000, and then you want to buy a luxury watch for $2500; then the result will be minus. You are more interested in lifestyle. You know the problem all too well; yes, the problem is that there is no financial education.
"Make sure how much money you make doesn't determine your wealth, but how much money you can save.“
2. Not used to a lot of money
When you have an income of $900 and suddenly you earn 10 times more money than that, suppose you suddenly earn $5,000. Then what happens is that you will be confused if you are not used to holding a lot of money, with so much money to use for what. Finally, you begin to passionately want to use these funds, especially since you are a very royal person in the eyes of friends, and then you treat and invite all your friends to have fun, buy this, buy that. Buy something unimportant in excess, and in the end your money will go back to $900, and you'll end up stressing yourself out.
It's not about the money, but there's something wrong with the way you think. In the end, how much money you hold will still run out. Therefore, you have to be wise with money; you can do it by saving or investing it.
Apply it to your life to get used to saving. No matter how much money you get, keep it. Lock your money so it doesn't run out easily. Because money is like running water, if you don't collect it right away, it will simply disappear.
3. They are deceiving you
And this is what you need to pay attention to, especially when investing money. Don't get caught up in cash games that offer you the opportunity to double your money quickly. Especially you like to play online gambling, because that's what makes money disappear from you in an instant. So save your money properly.
What is the difference between needs and wants?
As we know, the core of the need is something very important that must be prioritized and must be fulfilled, such as food, shelter, and so on. Desire is the desire or desire to have something. even though it is needed, it is not too important, such as replacing your cellphone with the most expensive brand, buying gold-plated clothes, and so on.
Therefore, starting to manage finances by yourself is the right step before you manage finances when you later have a family. Then how to do it, and what to do? Here are some tips you can use to manage your own finances well.
7 ways to manage finances
1. Intention
The first is intention. Why is that? Because no matter how good you are at managing finances, if there is no intention, it is a lie. The intention here can be exemplified as you try not to indulge in lust for unimportant shopping continuously. And you try to think about how your financial fate will be in the long term. Therefore, by straightening the intention to be able to manage finances as well as possible, the next stage will be easier to do because it has been preceded by enthusiasm.
2. Make a record of expenses
Make notes of expenses and income; do not have to bother recording it with a book. Currently, there are many online note media that can be used, such as using smartphone applications. It would be even better if you were able to record every expense outside of your head. So try to record every time you shop and transact what you have bought. This is done so that the money that has been spent can be seen where it goes.
And any items that are not important that have been purchased, then you can correct it back. Take note of certain expenses first, such as daily meals, boarding fees, electricity, etc. When excess,you can switch to another.
3. Start saving
There is nothing wrong with forcing yourself to always save and set aside part of your income. not only saving in the bank, but it can also be like saving gold investments. And in a moment, when the need arises, you are no longer confused.
4. Do not follow other people's trends and lifestyles.
Look as stylish as you can, and fit into the budget you have, and don't force yourself to be like everyone else; for example, if the person has the most expensive iPhone and you want to have it while the budget you have is not enough. Then follow that intention. Remember that what you are buying is a function, not pride.
5. Start sharing
Sharing will not make us lack, precisely by giving alms, something that is not expected to come. and the money will come back to us with more than we have shared with others. Believe it or not, it all comes back to you.
6. Quit smoking
For some people this is the most difficult thing to do because it has become an addiction, but it is the most effective if you want to reduce spending more.
7. Stop getting into debt.
Believe it or not, a person will be easily tempted by the offer of a loan, such as a bank loan, but it is very difficult to pay it off, because a person will forget that he is already in debt, let alone has a large interest.
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