It’s pay week na ka-salo kako karibu kuingia. You’ve probably been holding your breath waiting for that text from your bank saying your account now has money. While this is a great reason to celebrate, don’t overdo it. Your salary is supposed to last all month and here’s how you can make sure it does.
This starts by knowing how much of your salary you actually come home with, after taxes and other deductions. Once you have that figured out, make a list of your ongoing expenses, such as rent, and how much they cost. You also need to know how much you are going to spend all month on living expenses, such as food and transport. Set that money aside and use it only for what it’s intended for.
This will be easier now that you already know how you’ll be spending your salary. You can set up your bank account so that your ongoing expenses are paid as soon as money gets into your account. It will save you time and a lot of panicking later on in the month when money is tight.
There are two main reasons for this. One, you’ll save money because you will have time to shop around for good deals and bargains. Two, the first weekend of every month is usually full of offers from supermarkets that you can take advantage of.
You don’t really need another pair of the same shoes, or that expensive liquor that you’ll get at a work event. It’s a good time for you to figure out what you want versus what you need. Just take a hard look at your spending habits and see what you can remove. This way, your salary will actually have a chance of lasting all month leaving you stress-free.
You are allowed to treat yourself when your salary hits your account, but be careful to just do it once. Keep in mind what your budget for the month is and carry only enough money for what you need daily. This will help you avoid buying anything on impulse.
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