Behind us is the most depressing and stressful month of the year – January. Aside from the standard expenses, everything we bought for the holidays came in January, and you may have somehow managed to get through and cover all the expenses by February, but how do you survive that month ?
The basic rule for staying “plus” is very simple and says that we should never spend more than we earn . Although we all know that the goal of successful home budget management is to keep our income higher than our expenses, the balance at the end of the month is not always the case and we are aware that we often live a life beyond our means.
The cost of living is increasing
According to the website, which regularly publishes data on living costs in world cities , the monthly cost of a four-member family is around HRK 15,000 , excluding rent.
A deeper analysis of consumer habits concludes that more is spent , for example, on alcohol and tobacco than on education and health, and this is precisely part of the problem of mismanagement of the home budget – we spend money on the wrong things . How do we make sure we have the money needed for all expenses each month?
If you manage to control your own money, you will be more stable and will live with less stress. The first step is to become aware of your bank account balance and then create a budget plan.
How to spend your budget wisely
For starters, it’s important to put all your monthly income and expenses on paper . A budget plan can be short-term: weekly or monthly, or long-term: annual or multi-year.
Divide your earnings into regular salaries and the like, and extraordinary ones, which can be part-time earnings, payroll bonuses or Christmas bonuses. Do the same with expenses. Regular expenses include the cost of rent, credit, loan, food, utilities and commuting, and extraordinary expenses such as repairing household appliances and cars are extraordinary.
At the end of each month, review your income and expenses to know if you are at zero, in the red, or even saving something.
Some of the ways you can reduce your monthly expenditures are more rational spending, tracking spending and reducing overhead costs , while asset sales, part-time earnings, new jobs, promotions, or raises are ways to increase revenue.
Contingency solution: cash loans
As much as we take care of our finances and make plans, there is always the possibility that something we did not plan would happen . You suddenly get sick, your car breaks down, your child wants to go on a school trip that you didn’t count on and the like. To help in these situations, there are free loans for young people and those a little older .
These are loans up to HRK 3000, with HRK 0 bank charges for new customers, and the repayment period is up to 30 days . You can apply for a loan through an online application and the money will be in your account the same day.
Now is the right time to start taking control of your finances, and until your spending plans and rationalization come to fruition, free interest-free loans can be the ideal way to survive February, which , though the shortest month of the year, can last forever if you have no money.