A lot of people talk about saving money for the rainy days to come.
Most people will say" Only if I have an extra money will I save". People who pay their bills first and uses only whatever balance left will they pay themselves as a form of their savings.
Seriously most people can relate to this scenario. Many people when getting their paychecks will pay their living costs and bills first. What will be left will become their savings. This savings may fluctuate every month making it difficult to reach their savings goals.
The resolution to this is to earn higher by getting a higher paying job, which is within one's control, or paying one's self first before any of the bills. Surviving and managing to save money.
Most people will say" Only if I have an extra money will I save". People who pay their bills first and uses only whatever balance left will they pay themselves as a form of their savings.
Seriously most people can relate to this scenario. Many people when getting their paychecks will pay their living costs and bills first. What will be left will become their savings. This savings may fluctuate every month making it difficult to reach their savings goals.
The resolution to this is to earn higher by getting a higher paying job, which is within one's control, or paying one's self first before any of the bills. Surviving and managing to save money.
How do you cope with low income?
Several factors enable a person to save first before paying any of his living costs.
1. In beginning a career it is best to stay with your parents first, thus avoiding paying rents.
2. Using you old parent's car, if there is, when driving to work and paying only the fuel. No need to bring out money for servicing a car loan.
3. No subscription bills like phone bills, magazine subscriptions, internet subscriptions and others.
4. Joining a company that has medical and dental insurances thus gaining more savings than paying for possible expenses.
5. Using company uniforms makes it unnecessary to purchase work clothes.
6. Avoiding too much entertainment to pleasure one's self after several days of work. Mostly staying at home helps.
A book on surviving low income can be a great help. The important lesson is for a person "to learn to live without" and "avoid buying things you cannot afford or you do not need". Frugality is the key.
1. In beginning a career it is best to stay with your parents first, thus avoiding paying rents.
2. Using you old parent's car, if there is, when driving to work and paying only the fuel. No need to bring out money for servicing a car loan.
3. No subscription bills like phone bills, magazine subscriptions, internet subscriptions and others.
4. Joining a company that has medical and dental insurances thus gaining more savings than paying for possible expenses.
5. Using company uniforms makes it unnecessary to purchase work clothes.
6. Avoiding too much entertainment to pleasure one's self after several days of work. Mostly staying at home helps.
A book on surviving low income can be a great help. The important lesson is for a person "to learn to live without" and "avoid buying things you cannot afford or you do not need". Frugality is the key.
Interesting Articles
- Should you focus on Increasing income or reducing expenses?
- Savings is the priority since it appears first in the equation. To increase saving, we can either increase income, reduce expenses,
- 10 easy tips to generate passive income
- Passive income is income that does not require your direct involvement. It comes while we are sleeping . It is not actually too hard to get passive income. Here are a few easy ways to generate some passive income for
- How to Survive on a Low Income
- When people talk about saving money consistently for a rainy day, most often than not the feedback would be "If I had that extra money to save, I would." These are the people that pay their bills first and only
- How to generate income from your blog?
- As announced last week, I am building a series of lens about making money blogging in Malaysia.
No comments:
Post a Comment