You are living in penury the week before your payday but when your payday has come, you excessively splurge. After a few days, you are again eeking out your last few pennies for the next payday. While you eek out your pennies, you miserably scour your cupboards and see what meal you can make. That is an unhappy experience. Unfortunately there are Singaporeans who experience this kind of dilemma.
You should not live this way. You need to find ways to make your cash last until the next payday without sacrificing many things. Here are some tips that you can use to make your cash last until the next payday:
It is easy to spend cash. You will not notice it go sometimes. When you are purchasing a good, you need to use cash. Do not depend on your credit card because it can worsen your financial standing. When you go outside, leave your credit card. That is the best thing to do.
The next thing that you should do is cost cut. You have to cut back on your luxuries. Evaluate which things are essential and non-essential. Men and women spend most of their money on cosmetics, clothes, social gatherings and eating. Cost cutting means saving money.
If you are serious about making your cash last until the next payday, you need to track whatever you earn and spend. If you are into it, you can even make a spreadsheet and detail your monthly earning and spending. You should prioritize your mortgage or rent following other costs like bills and insurance. Do not forget about your living expenses.
Look for ways to lower bills
Finally, you have to look for ways to lower your bills. This sound difficult but when you get the feel of it, things will be easier on your part. For example, you can lower your electricity bill by turning off the light when you are not using it.
That should do. Budgeting money is difficult especially if you think that you do not earn enough. Singapore is an expensive place to stay but with proper budget management, you can get by. If you are in financial trouble, you really need to tell your parents or friends so they can help you or give you support.
Good luck on your expenses. Hopefully with the things mentioned above, your money will last the next payday.