Did you know that just by financially planning your monthly expenses can you save? Yes! He will be your ally in the battle against superfluous cats, and help you identify where you can save the most and pay off debt!
Curious how to start assembling yours? Alakido gives you tips to make yours:
Understand the gains to settle debts
Write it all down. Yes, whatever you get. Start with your monthly income. Where do they come from? If you work as a CLT, you can identify them on payroll / payslip. Do you work as a freelancer? View monthly earnings through last month’s transactions; for example, set a period of 30 and average the last 3 (three) months. This average will be used over the following months.
Mapped earnings? Now record fixed expenses
Well, with the mapped earnings it is time to write down all your fixed expenses. Fixed expenses are costs that do not vary monthly, only as a result of tax adjustments such as:
- Property tax;
- Car insurance (if you have one);
- Water and light beads;
- Transportation (30-day public transit tickets or how much gas you use in the meantime);
- Is it married? Have children? The expenses related to their education also go here!
These are some examples of fixed expenses that can be used in your monthly financial planning.
Don’t be scared, it’s time to write down all the variable expenses.
We warned you in advance: do not be alarmed. When you map out all your variable expenses, you may notice that we spend too much on things that are sometimes unnecessary and could be cut. For example, that coffee after lunch, you know? Let’s say it costs $ 3.00 and a day you drink two. At the end of the day will be $ 6.00 and throughout the week will be $ 30.00 – if you only work 5 (five) business days per week. Over the course of four weeks (the average per month), you will have spent $ 120. In 12 months, this amount will have already totaled $ 1,440.00! Do you realize the savings made by cutting these two coffees daily?
Time to cut debts in the bud
With your incomes, fixed expenses, and variables noted down, you should look at what is essential over the 30 days and what can be cut into the variables at once. This is for lunch too! We’re not saying, don’t do anything you like. On the contrary, with financial planning, you will have better control of your income and debt by rationally analyzing how to repay them with these small savings. After all, from coffee to coffee, there are chances to save!
The force of habit.
For a habit to become a routine and repeat itself, we usually have to do it for 40 days straight. Therefore, we encourage you to keep planning until it becomes a habit rather than an obligation. This is the first step to really owning your savings and knowing when and where you can spend the most money and how to save without suffering.