How Many Days Would You Last With Your Current Earnings?

Your Current Earnings now days are difficult to handle especially if all the good things to buy is screaming at the screen our TV and the world-wide web. There were also too many beautiful places waiting for us to explore, new restaurants in town, even bags and stuff that our friends and colleague offering for a 2 months payment term and of course credit cards at our disposal when we are in a window shopping mode.

So how do we able to say NO to all of this?

First, we need to answer these questions.

How much is your total earnings?

• If going there and there and buying these and these, do you have the budget for it?
• Do you have monthly amortization? Home. Car. Jewelries. Loans. Insurance.
• How about monthly bills? Electricity, Water, Credit Cards, Internet connection.
• Then, basic expenses? Groceries, food, transportation, gasoline if you have the car, vitamins among others.
• For the kids: tuition fees, daily allowance, and unexpected school fees.
• Oops… there is another to add… Salary for house helper, Nanny.

Sure there are still other expenses to add. But really, are all this spending necessary? If we try to check it again maybe there were some that we can live peacefully without having it. All we need to do is discipline ourselves.

Now you have a macro idea on how you could be able to allocate the money you have at hand.

Does your earnings more than enough to cover these basic needs amortization, bills, and other necessary expenses?

If not, going to a vacation is really that important?

Going to the mall where in you can be tempted to swipe your card, spend your money or buy things which is not your needs actually.

If you don’t have a budget on top of our list above, your most wise decision is to cancel that planned vacation. Then, don’t go to shopping malls for the reason of window shopping because eventually you would be tempted to buy stuff which would eventually end up in your closet for a long time without using it.

So does your earnings would last you days or not? If not go over with your list, cut down some expenses which could not affect your basic needs.

At the end of the day, your decision today is the result of what will happen to you in next days of your life.

Be wise.

Picture Resource:123RFPickthebrain

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Author:

Ermz Teodocio – Financial Literacy Advocate . Environment Advocate. Volunteer. Field of study – accounting. Logistician. Aspiring Social Entrepreneur (on her way to build a rich business).

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