So you are troubled with mismanaged budget and want to save money from your monthly expenses.
In the last week of month everybody decides to save money from the next month onwards but most of them forget their decision and find themselves in the same condition in the last week of every month.
Saving money is not as simple as it looks. It requires sheer dedication and determination.
The first thing in this wake can be applying for low interest credit cards.
Credit card and its monthly payment determine the financial status of a person. If you use the card judiciously then you will be able to manage your budget efficiently.
With the use of credit card you are saved from paying hefty amount in one go. Instead you will pay it in installments.
Secondly, try to note down every expense you make.
Thirdly, make a piggy bank and put a certain amount of money in it every morning. So that whenever you feel cash strapped, you will have at least some money in reserve. And if you are too determined not to touch the bank then you might someday buy a new refrigerator or tv with the saved money.
Fourthly, do not always take your car to the office. Instead go for public modes of transport or pool car. It helps in reducing your expenses on petrol and at the same time you can prove yourself as a responsible resident of earth helping in conservation of the environment.
Fifthly, leave your credit card at home when going for helping a friend in his/her shopping. It is a general incidence that most people end up buying for themselves when they go for shopping with friends.
Sixthly, reward or punish yourself for spending according to the set budget. Fix a certain amount of money for daily expenses and spend according to it.
Reward yourself whenever you spend less than the set limit and punish yourself by cutting on other expenses to make up the loss when you spend more than the limit.
It is very essential to use the credit card properly. And if you have one then make sure that you pay all the installments on time. Click here for more information.