Everyone think that they know how to manage money, they always heard or read the article about it. It is not something new, but they always have struggle their finance every month.
I am believe you know about manage fund rules, where you allocate your income into need, emergency fund, wants, saving and investment. The proportion is depend on everyone situation.
Unfortunately, not everyone did it properly. Money is have strong bonds with emotion, so if you don’t have a strong will, it easy for you to break your own rules.
Most people money stream from income -> expense/need/wants -> saving. They make assumption they will save what left after spending. Unfortunately in the end, most of them save nothing.
You can begin to tax yourself. So your money stream will be like income -> saving -> expense. It is just mindset, but with this you have no choice to save first before you spend. This is what our government do to us, they deduct our salary for pension plan.
Most important thing, if you have credit card debt, you have to pay it quickly instead of saving. It is because credit card debt have high interest, more than your saving. Saving instead pay credit card bill is like fill water into broken pail.
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