Write Down Your Budget
Writing down things is usually a great thing when it comes to organizing anything, as it goes beyond simply putting words down on paper. Writing things down helps you not only organize your thoughts on paper but also clear up your mind. You could start with using your pen and paper and skip to an app or a spreadsheet later. Having your budget visualized will help you acknowledge what you can afford and where you should cut off spending. What pays is to figure out a zero-based budget, which is not only about putting down your expenditures and spending the leftovers. With a zero-based budget, you allocate every single penny you have. Sure, there is a little more effort to this, but the result is worth it.
Go for Cash in Daily Spending
Did you know that using cash instead of swiping a card in a store saves up to 15-20% of your monthly income? Recent studies suggest that subconsciously people give much more thought spending cash rather than using a credit card. The point here is that you do not have to use cash paying for any single bill at a supermarket. What pays to do instead is pointing out the items where you tend to spend the most significant chunk of your budget. Set limits of spending in that direction and once you have reached it – just cut off.
Put the “Four Walls” First
While organizing your expenditures, get your priorities straight. For better or worse, you cannot avoid spending. But what you can do – make sure the essential items are covered. The theory of “four walls” suggests putting the following four categories first:
- food;
- accommodation fees (utility bills, taxes, mortgage/rent);
- clothing;
- transportation.
These items surpass any other payments, so you should make sure you catch up on them before proceeding with other steps. This way, you will not feel at a low-water mark.
Put the “Four Walls” First
While organizing your expenditures, get your priorities straight. For better or worse, you cannot avoid spending. But what you can do – make sure the essential items are covered. The theory of “four walls” suggests putting the following four categories first:
- food;
- accommodation fees (utility bills, taxes, mortgage/rent);
- clothing;
- transportation.
These items surpass any other payments, so you should make sure you catch up on them before proceeding with other steps. This way, you will not feel at a low-water mark once your budget is on the brink of exhaustion.
Catch Up on Your Debts with a Snowball Theory
Once you have crafted your budget plan and identifies your priorities, move forward to paying off your debts. What matters is that you do not use the debts to pay off, so you can complete the stage faster.
You can motivate yourself to deal with your debts using the technique of a snowball. This method encourages you to pay off your debts the fastest possible, when there is a minimum interest rate, rather than postponing the compensation for the highest interest. Little by little, you will see your debt dissolving, which will encourage you to move with further steps.
Invest in Crypto and Get Free of Your Debts
Now let us move to more technological ways to help you out with your money. It is not big news that you can significantly multiply your income by investing your financial assets. At this point, forging cryptocurrencies is the most cost-effective way of benefiting from your money. First of all, forging is extremely convenient, since you can do it on your smartphone or PC. This is what differs forging from mining – you do not need any bulky devices consuming loads of energy. Everything is simple, fast and handy. Luckily, Metahash network provides his quick and user-friendly service. In fact, it can conduct around 100,000 transactions per second. Just install Metahash app on your smartphone or PC and let the software do everything for you. Just give it a try and you will never experience a drain in your budget again. Gaining money has never been so easy!
