Real incomes have declined, inflation is rising and money is melting before our eyes. The crisis has eaten up the reserves of the majority, and therefore we have to invent new ways how to live from paycheck to paycheck. According to a study conducted by the National Agency for Financial Research (NAFI) in March 2016, every third Russian believes that now is not the best time to save money. Only 27% of the population reported that their family has savings (deposits in banks, accumulative insurance policies, stocks, bonds and other securities, cash). Therefore, the topic of survival from paycheck to paycheck, more than ever, is relevant for all of our fellow citizens.
Learn how to make a family budget.
Financial stability is much more dependent on the ability to manage money than on the size of your income. Therefore, it is very important to learn how to control your spending and how to distribute it correctly. Effective budgeting ensures you that your real expenses do not exceed the planned ones.
In order to properly draw up a budget, you must clearly realize how much and what you spend. There are many ways to calculate income and expenses. Starting with special applications for smartphones and ending with a simple notepad. Once you understand where your money goes and how you can reduce costs, you can plan your budget.
- Nevertheless, we have not yet learned how to predict the future, so it is very important when planning the budget to leave a certain amount for unforeseen expenses. This can be from 5 to 20% depending on your financial situation.
- Further, it remains only to learn to stick to your plan. So, you can forget about the problem of lack of money from paycheck to paycheck. You need the payday loans for the best deal.
Understand investing. Investing very often seems more difficult than it actually is. This is because it involves certain risks. However, if you approach this issue responsibly, the investment can help you survive when the salary is already spent.
- Remember that money should not be idle. Do you invest in securities, the education of your children or yourself, bank deposits, currencies, the microfinance sector, or your business? Money should work for you.
- The main thing in investing is not to risk everything at once and, all the more so not to go into debt. Therefore, for a start, create at least a small airbag and invest a small amount.
It is important here to know the best options for the money funding comes from the best source and that make the
whole process perfect there. You need to be specific for the work there. This is where you need to be specific options right there. Payday loans online with Finance Guider