A good budget for your personal finances
It’s not fun to think about finances and savings, but a necessary pain in everyday life to be sure not to over-spend their assets. When you are also dealing in stock trading, it is easy to want to buy large amounts to quickly get good capital. It is important to create your own rules and brake pads so that the economy does not trace. Even if you want to live well during retirement age, it should not go beyond the present.
One of the most difficult items to control is the food budget. We shop food impulsively and for just a few days at a time. You can get much more control if you spend a lot of money each week for food purchases and write a food schedule. Decide already on Sunday what to eat during the next week and buy everything on Monday. Then you have to wait, if the milk runs out on Thursday, you can wait until next week and adjust your purchases to be able to buy more milk than last week.
According to the Consumer Agency, it is estimated that every adult should spend around $ 2,400 a month on food. See how well you are in relation to that sum: do you need to cut down on restaurant lunches or can you well indulge in an outdoor lunch a week?
If you have specific hobbies that cost money, these should also be planned into the month’s budget. What does not go to food and bills is divided into various items, one of which can be your hobby. If you like to play online you can use services like Svenska Casino to find good bonuses that give you more games for money. Also, set a maximum limit on how much money you can play for per month.
If you like to buy material, you play music, there is the cost of maintenance of instruments and spare parts. Try to figure out an average of what you spend on your hobby per year and assess whether the cost is justifiable or not.
The most important thing is that you have a savings. When the water heater breaks down, you don’t want to take out a loan or eat noodles for the rest of the month to buy a new one. There should be a buffer you can remove for unpredictable costs. Economists recommend that you should have an annual salary in savings, then you will manage most things including going unemployed for a few months.
It obviously takes a while to come up with such savings and as soon as you need to borrow money from the account you go back in the schedule. If you earn $ 25,000 a month, you have an annual salary of $ 210,000 after tax (30%). To get together 210,000 $ in five years, you need to save $ 3,500 a month. A more realistic saving is that you and your partner save together for an annual salary of five years. Then it is not as difficult to save $ 3,500 a month.