Nothing in this world is free, everything has a cost you have to pay for and a cost you have to bear. There is also no match between the income we earn and the things we need want to spend it, on. Therefore managing money matters a lot. Here are some tips to help you through.
Keep track
The things that you might be spending on, sometimes could be things that need not really be spent on. Sometimes you could even be spending beyond a certain limit on certain things that are necessary but could have been lesser. Therefore the first step in managing your funds and staying away from being called by a reporting collection agencies is to track your spending. When you know where you are spending on the most, then you can control it. So make sure that you hold on to the bills and remember where you are spending them on, so that you can later pen it down properly and identify places you can cut down the cost on.
Combine and pay
When you are married it isn’t two people under one roof but a family or one under one roof. So there is no real ‘his’ or ‘her’ money. To avoid money issues from happening in future as well, open up an account and deposit the money that the two of you earn. From there onwards you can both pay the bills from the money you both earned and distribute it amongst yourselves to spend on whatever that you need.
Keep track of the bills
One of the biggest expenses when you are living on your own is the bills that you have to pay. These are also utilities bills that you cannot afford to not pay unless you are willing to live without electricity, water and other essential utilities. So to avoid losing these, make a calendar or mark the ‘bill days’ on your calendar so that you know when you should be making payments. This would also help you make payments on time and avoid losing your connection to these while also keeping you far away from the reliable debt recovery in Gold Cast that you might have to end up borrowing money from to make payments.
Have an emergency account
You never know when you might need extra cash. Therefore it is best that you have an emergency fund account where you save up a little every day. This way in case there is a need for it, you wouldn’t have to embarrass yourself by asking others when you can jolly well use your own money!