How to manage one's money smartly

vickylass By vickylass, 5th Nov 2014 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Money>Money Saving Tips

It's the petty expenditure that we have to look after, because the big and important one is already saved.

How to manage one's money smartly

One of my friends is a real consumer, meaning that she seems to need to buy something day in and day out. She's, perhaps, a too weak tempered one when she's walking in the streets not being able to control herself at the sight of offers, discounts and the glittering shop windows. Or worse still, she seems to have a void in her life and shopping for all sort of things almost every day seems to fill in this void. Whatever it is, I've already lectured her, using the old English saying that says '' Look after your pennies, because your pound notes will look after themselves''
In the Euro Zone, it could be '' Look after your cents....'' It may be a change of currency, but the meaning is just the same, meaning that it's our petty expenditure that we have to look after, because the big one is already saved.
I've given to her this tip on how to manage her monthly cash and to know how much money we can squander every day and every month.
1. Note down every unimportant thing bought on the day on a little notebook before going to bed whether is a fancy scarf that she doesn't need or something that was on offer in the supermarket when she only went in for a loaf of bread and a lettuce.
2. Keep a daily records no matter how small the items are and how much she paid for them. It may seem silly to note down something that cost 1 or 2 Euro, but these items count.
3. At the end of the month, she should sum up the totals in every single day and she'll be surprised, amazed or shocked at seeing that the monthly total sums up quite a good amount of Euro.
I don't think she'll do this, but it helps to look after the cents as it's said and the Euro notes will be saved to really important things such a holiday or to buy a really necessary thing that is out of the question if we don't save or manage our income in a savvy way.
Another saving tip for important things is sliding a two Euro coin in a piggy bank every day before going to bed. Just a two Euro coin will make 60 Euro a month. 120 in two months and chances could be that by the time it's Spring or Summer, we can have over a thousand Euro to go on a holiday and the like. It only has to be a two Euro coin in the piggy bank every night. No more and no less.

(C} Copyright. Vicky Pino. November 5th 2014.


Cash, Consumer, Friend, Notebook, Tips, Totals

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author avatar vickylass
Feature article writer whose motto is that inspiration does exist, but it has to meet us at work.

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author avatar Raihan Newaz
6th Nov 2014 (#)

Thanks for share !

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author avatar Retired
6th Nov 2014 (#)

Some good advice there. Yes, I need to start writing down what I spend every day. Thanks.

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author avatar WOGIAM
6th Nov 2014 (#)

Thanks for your simple and effective tips, if only my earnings could cover my expenses, i would be able to at least save.

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author avatar vickylass
6th Nov 2014 (#)

I know what you mean Wogham. It isn't easy when one's on a low income, but check on your petty and useless expenditure. You might as well have a surprise.

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author avatar viewgreen
6th Nov 2014 (#)

Interesting article... Thank you :)

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