Few tips on how to make your earnings last the month

Do not just scrape through. Study your spending pattern for better money management.

14:15 23 November 2014

A month is a long time and it can appear longer if you do not have sufficient funds to last the duration while awaiting the following paycheck. Unfortunately, the current shoot in inflation has pushed too many individuals and families to living from paycheck to paycheck, mind you not just because they are reckless spenders, but as you know, misfortunes happen, sometimes, and to anyone. 

 

Your finances could be rendered insufficient due to a nasty accident that may badly damage your car, or you may be slapped with a huge medical bill due to an ailment, or you could have been a victim of cost cutting where you work and thus be forced to accept a low pay in another job. 

 

The following are easy tips to help you make your earnings last the month.

 

• The key thing you need to do to make your present earnings last the month is make adjustments to the monthly charges that you are now paying. It however requires sacrifice to make such amendments, but it is the surest way to realise a good amount of your income, which would have otherwise been spent. 

 

• If you do not put to use all the data, text and minute offered in your mobile plan, you then should start by changing it to one that matches your usage requirements better, and is less costly. How many of us are using the plan we need?

 

• Consider reviewing your insurance plans. Compare different insurance plans by different insurers and select a plan that offers comparable benefits at cheaper rates. You can also choose to stay on the same plan, but then with reduced monthly recompenses. 

 

• Also, consider cutting down on your monthly energy bill. Consider reducing your electricity usage by half and then see how much more you can put into your pocket that could have otherwise been used to pay down electricity bills.