Ready to hit your 20s in style? If you don’t have good money habits, you may just find yourself in trouble. Take a moment to learn what you should know before it’s too late.
The best budgeting and money tips for handling your life when you are under 20
There is a lot more to just running a house. A responsible individual is known for his money handling. Here are some budgeting and money tips which shall make living on our own a whole lot easier:
– Take note of how much you earn and how much you propose to spend every month. Budgeting will ensure that you don’t go overboard with your expenses. Consider how much your regular gas and electricity bills are. Never skip out on mortgage payments. Use an online budget calculator if you find it hard to budgeting.
-Use cash first, debit card second and lastly if all else isn’t there then your credit card. Credit cards must be used judiciously for the interest rates on them are quite heavy to pay if you fail to make the payment of the credit cycle.
– Eat at home as often as you can. Make sure that you have atleast 2 meals at home instead of all the meals outside. Fast food joints and restaurants charge much more that home cooked food. If you aren’t familiar with the kitchen, take a class and learn how to cook.
– Shift from a post-paid mobile phone to a prepaid one. This way you know how you spend instead of receiving a big bill at the end of the month.
– Students must make full use of all available discounts that they get. This way one can save a lot.
– Sell off your old stuff which you don’t quite need for cash. One can sell books, gadgets , games etc. on eBay and Amazon.
– Spend money during sale season. If it is summers you might want to pick up those cheaper woollens, likewise in winter. Avoid purchasing items for the heck of it. Weigh each decision you take.
– Think twice before accepting student loans or credit cards. Take one if you are sure that you will pay it off during the stipulated term. Manage debt well otherwise it can be a never ending pain for life.
– Avoid smoking. It is a costly habit which can cost you a lot of big bucks.
Giving up on your today for a better tomorrow requires discipline. The budgeting and money tips mentioned in this article shall ensure you have prosperous days to come. Remember budgeting and money tips take patience to follow.
1) Use cash before your debit and credit card.
2) Make tabs to understand how you should budget. Take a pen and paper and jot down your expenses.
3) Shop smart.