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Tips for Managing Your Salaries

Tips for Managing Salary on Early Months

The problem in modern society today is the difficulty in managing the salary. Bad things can happen if you fail to manage your salary properly and wisely, for example is already running out of money even though it’s just the beginning of the month !? This is caused by the irresponsibilties in spending money and buying goods that are consumptive such as luxury clothes, expensive bags, eating in luxury restaurants, hanging out in cafes and others.

To prevent such things, let’s check these tips from EasyPay so that you can be successful in managing your salary!

Bad things like that can certainly be solved by the correct money management. Here EasyPay gives some surefire tips for you so you don’t run out of salary before the middle of the month. Let’s look at the following tips:

Understand and Know Net Revenue Every Month

As reported by Nerdwallet, before making a expenditure plan (budget plan), first know the amount of net or net income each month. Make sure the estimated amount of income you intend to use has been deducted from fixed fees such as taxes, insurance contributions, or business needs. With this initial step, you reduce the chance of miscalculation.

Creat a Defined Budget

Begin to make a list of monthly expenses for needs in two parts. For primary needs such as food, work costs, electricity bills, house payments, motorcycle payments and so on. As for tertiary needs, make a budget for shopping, traveling, to hangout budgets with your friends or coworkers.

Pay Your Bills Immediately

​When getting a salary, the first thing you think about is definitely paying the bills. From the start of electricity bills, telephone, installments, and so forth. This is really important, so as not to interfere with the cost of your daily needs. This stage can help you because it can make you more calm to manage other monthly expenses.

3-Category Budget Method

Forbes recommends a 3-Category Budget. Generally, a person only spends his money on three priority categories of needs and desires, for example clothes, entertainment, and eating in restaurants. By knowing and prioritizing the three most frequently excluded categories, you can control spending. This means that while meeting your entertainment needs, you will continue to cut expenses and manage your salary wisely and effectively.

Let’s Not Forget the 50/30/20 Budget

The method explains each salary is allocated 50% for needs, 20% for long-term savings, and 30% for lifestyle. With the estimated allocation, you can ideally divide expenses for daily needs while saving. In addition to these methods, which are always the key to successful salary management, namely consistency. Make sure the method is not only applied by you in the first month, but is maintained in the following months.

Saving, Saving, Saving!

If you have been accustomed to setting aside the remaining salary for savings, this time try to set aside the salary for savings before you use it for daily needs. This is useful, to reduce expenses that are not too important. If your goal for managing salary is to save, make sure you save the allocation of savings immediately after earning a salary.

Create Your Own Business for Extra Income

Sometimes, the salary provided by the company is not enough to meet the daily needs of your home. Whether it’s because of the demands of the times, or indeed because the price of basic needs is increasingly looming lately. From here many permanent employees who want additional income in addition to permanent employment. How to get extra income is of course by opening a small side business. This side business is generally not prohibited by most companies, as long as the business is not against the rules. Come on, start a side business with a small capital assisted with the EasyPay Mobile app! You can sell various digital products such as pulses, data packages, electricity tokens, and others by becoming an EasyPay Agent. It’s easy to do, just download and top up according to the business capital you have, you can already sell digital products at the lowest price! Assisted with 24-hour CS service, ready to serve your transaction needs. What are you waiting for? Come download now!

Also Read: 5 Side Bussineses With Minimum Capital

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