3 effective ways to manage your money well

Financial education unfortunately is not taught at school, yet many of us are faced with money problems on a day-to-day basis. You may be one of those people who spend money rashly and later regret it. Or maybe you are one of those people who receives their monthly salary and no longer has a penny because of the debts recorded in the past month. It is a set of recurring problems with poor money management which will have negative effects on the realization of your projects.

So, what strategy should you put in place to manage your money well and use it in a timely manner?

Akasantech presents 3 effective ways to manage your money well:

1. Write a budget

A budget involves cash receipts and expenditures for a given period. List your fixed expenses and your variable expenses. While opting, a fund for emergency situations. This will allow you to see the amount of money allocated to each of your charges.

2. Check the value of the purchase

An adage says: “money is a good servant, but a bad master” so it is important to reason with yourself when you have an expense to make, there are 2 questions to ask yourself a) Is it important? n) Is it urgent?

If it is important and not urgent, postpone the purchase for another date.

If it is important and urgent at the same time, then you can take action. This method will prevent you from compulsive purchases.

3. Save

No one knows the future, for one reason or another, you lose your job overnight, an urgent visit to the doctor arises and many more...saving will allow you to face unforeseen events while respecting your budget.

Managing your money well has invaluable advantages, it allows you to remain calm in the face of life's situations and prevents you from falling into debt without fail while maintaining peace of mind.