Especially now on the eve of the holidays, many people are tempted to buy things at a discount, even if their purchase was not planned. And as a result, a lot of unnecessary things at a “good price” at home. Therefore, in order not to destroy the family budget, it is necessary to work on mistakes in a timely manner.
The first mistake is that there is no clear plan
This is one of the most common mistakes. Because many families do not plan their budget and the result is chaos, which leads to a lack of money at the end of the month and unforeseen expenses.
Experts recommend dividing the family budget into several categories. Namely on:
- mandatory costs (these are utility bills, mobile replenishment, rent, etc.);
- necessary payments (expenses for food, travel, medicine, etc.);
- unforeseen expenses (this is a hospital examination, a trip to the dentist, a colleague’s birthday, etc.);
- entertainment expenses (it can be shopping, cinema, theater, recreation).
After the division into categories, it will become clearer where and what the money goes to, so you can start planning savings.
The second mistake is spontaneous costs
Currently, many people are able to buy something in the store if they are in a good mood, but it is a bad habit, because then they do not keep track of their expenses. Even if the purchase is not very expensive (a cup of coffee), but at constant such costs a significant amount accrues. Therefore, it is better to monitor your costs, now there are many services and mobile applications.
The third mistake is savings
There is a rule on this account – you need to set aside at least 10% of your income for savings, then during unforeseen circumstances you will not have to borrow or borrow and drive yourself into debt.
Mistake number four – long-term plans
Not everyone understands the importance of long-term planning, and without it it is impossible to achieve your dreams. If you do not have such a goal, it is much harder to save or increase your income, because everyday life takes more attention.