“Argh. It’s not enough.”
“Did I just receive my payslip?”
“What’s life, people?”
These are some of the common reactions of millenials these days upon receiving their payslip and hard-earned salary. It hurts that no matter how hard we work, there will be times that what we’ve got is not enough. It will be never enough due to our expenses, lifestyle, and responsibilities. Sometimes, seeing and computing our salary break our hearts (and wallets, too).
Do you want to be financially stable?
SAY YES! One misconception about financially stability is being able to purchase what we want. There’s this strong desire that motivates us to work, work, and work so that we can achieve comfort soon enough. However, there will not be enough sources if you can’t handle your income accordingly. There are times that our income will just slip off our hands because we do not know how to budget it. Being financially stable means managing your finance accordingly.
There are ways on how you could be stable in perfect time as long as you’ll learn how to manage your sources very well.
Here are three unusual things that you SHOULD do after receiving your salary.
- Avoid going to mall. Contemplate on your needs, not what you want. Basically, this gives you plenty of time to reflect about the things that your money deserves. This allows you to manage your budget without spending it immediately. By avoiding luxurious payday dinner, you are bound to have identify which expenses or liabilities should come first. Basically, your lifestyle affects your financial management.
- Track your income and expenses. Knowing how much you have received and how much do you need to spend allows you to be more productive with your money. It creates discipline because you are fully aware on what you are needed to pay and spend. You may limit your spending habits because you know that you need to pay for your debts.
- SAVE 10-20% of your salary. No matter how much you receive, always remember to keep a portion of it. Few things can be big in time. Just be patient and trust the process of having simple lifestyle. That “I have to reward myself first” definitely means saving a portion of your salary. It will never mean buying a new gadget even if you still have one.
These three things can surely assist you in aiming for the better. Just keep in mind that being financially stable won’t be easy. As long as you can do these, you are on the right track.
Happy saving! 🙂