4 tips for managing expenses and having more money at the end of the month!
6 de May, 2020
While it’s easy to find various ways to enjoy your salary at the end of the month, we often can’t say the same when it comes to keeping it in your account.
Managing expenses and the family budget can be a real headache, especially when you lose track of the money you’re spending. At a time when many families are facing a drop in income, we’ve put together some tips that promise to be effective when it comes to allocating all the digits to the right place. Even if your salary doesn’t stretch, the truth is that with a little organization, you’ll be able to manage your expenses much more efficiently!
- “Segmentation”, memorize that word!
Start by dividing your expenses into three categories: fixed, variable and extra. This will help you understand where you spend your money more easily, so that you can change some of your habits if necessary! Fixed expenses are the first to be analyzed. The truth is that you can’t escape them, so you might as well face them without fear! Calculate how much you spend each month on the internet, the children’s school fees, car payments or rent, in short, everything that needs to be paid each month. Put this amount aside as soon as your salary comes into your account. Anticipate! Next, look at your variable expenses: groceries, water, electricity and the like, and estimate how much you usually spend in total. That’s how much you’ll have to “set aside” for the rest of the month. Finally, the extras! This includes dinners out, outings, birthdays and anything else that goes beyond the norm of an “ordinary” day. We know that nowadays these events are very few and far between, but thinking ahead always has its advantages! Don’t forget that unforeseen events happen, so there may be months when you have to spend more than you expected. You should have a “cushion” set aside to put out these fires. - Analyze your expenses
Now that you’ve grouped your expenses, it’s time to analyze and rethink them. Perhaps you could spend less on some of these services. Electricity and water are some expenses that, with a little self-discipline, can be reduced. Make sure you’re not wasting money! - Use technology
Don’t let disorganization get the better of you and keep track of all your expenses. Nowadays, there are numerous applications that help you manage your expenses and even show graphs. Monitor your personal finances and in this way you’ll be able to better assess your consumption, what habits you can change and where you can save. Knowing what you can count on is essential when you want to go further! - Make the most of the benefits!
Often, the solutions to some of our problems are all around us, and a little research is all it takes to find relatively simple solutions! When it comes to saving money and increasing families’ purchasing power, many companies have invested in extra-salary benefits that support their employees. From cards such as Euroticket Refeição to education solutions, such as Euroticket Creche or Euroticket Estudante cards, companies are able to contribute to increasing the purchasing power of their employees and their families. The value made available in these solutions is to be spent in certain sectors of activity and, as such, benefits from tax exemptions, such as IRS and TSU, which means that you end up receiving more than if it were integrated into your salary.If you really have to pay for the children’s school, spend money on school supplies or food, why not use these solutions and have more money at the end of the month? If your company doesn’t already offer these kinds of benefits, suggest them!
Starting from July 2023, Euroticket benefits have been renamed Edenred.