Why do we always lack money and what to do about it

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

It's time to admit that many of us are completely out of tune with money. If you sincerely do not understand where salaries go, this article will help you redefine your approach to financial management.

We do not keep a budget

Because it's boring. Collecting receipts, writing down all expenses - well, there are more interesting things to do. Finding ourselves on the brink of a financial abyss a week before the paycheck, we vow that from next month - no, from next Monday - we will definitely start monitoring where the money is going. Of course, this Monday never comes.

What to do

We don't like to save

And again, it's boring. Apparently, paying off the loan is much more fun. The root of the problem is that giving up money in favor of even a very specific goal is very difficult. It would be necessary to save up for a car, but what is there, because there are many other items of expenditure, unlike more attractive ones. As a result, no car, no money - everything was spent on some nonsense.

What to do

Save at least 10% of every paycheck. Moreover, this should be done immediately after receiving the money, and not according to the principle "if something remains, I will put it in the piggy bank." Open a savings account in the bank and set up an automatic transfer of a certain amount with each receipt of money on the card. If you have several large goals, for example, vacation and buying a car, it is wiser to open several accounts and divide the savings between them depending on the priority of each goal.

We postpone everything for later

It would be necessary to pay utility bills, but why, because it can be done next month. You can, who argues, only here's a surprise: you will have to pay more. And this means that it will be necessary to squeeze in expenses. Here is the same story as with savings: we know that there is no need to postpone, but there are so many temptations around that it is very difficult to resist them.

What to do

We take the salary, from which we have already set aside 10% in the savings fund, and deduct from it the amount of payments due this month. It turns out an emergency reserve, which is impossible to climb into. In order not to mock yourself, pay your bills as soon as possible after you receive your paycheck. The remaining amount is your monthly budget.

We can't stand planning

It will be cold soon, and you do not have a warm jacket. It would be too easy to buy it at the spring sale. It is much more interesting to wait for the first frost and run around the shops in the hope of buying at least something, if only it fits in size. As a result, of course, also overpay.

What to do

Read the article to the end, grab a piece of paper, a pen and make a list of the big expenses that lie ahead for you in the coming months: utility bills, expensive purchases and all that. It turns out the amount that should be taken into account when planning other expenses. And advice for the future: think a couple of steps ahead so as not to find yourself in a situation when something is urgently needed, but there is no money for it.

We do not know how to save

And if we do save, then not on that. When buying cheap clothes or household appliances, be prepared that these things are likely to quickly deteriorate. So, hello, new expenses!

What to do

Do not buy nonsense: not a cheap kettle, which still has a lid that closes in the store somehow, nor shoes made of oilcloth, which costs a penny, but will come unstuck after the first shower. You probably know this yourself, but you prefer to close your eyes: just think, the thing will last for some time. Do not do like this.

We do not save what we have

Many costs can be easily avoided by taking care of things. Even good shoes can easily be ditched in one season, having scored on caring for them. Laziness and lack of time (often contrived) literally suck money out of our wallet with a vacuum cleaner.

What to do

To accustom yourself to discipline, there are no other options. Wash your clothes in accordance with the recommendations on the label, and not in the way God wants you to, regularly treat shoes with water-repellent impregnation, do not ignore car maintenance. Finally, see a doctor: you also need to monitor your health, without waiting for something serious to happen.

How to change your financial habits

On September 20, a series of open lectures "Financial Environment" begins in Moscow libraries. Once every two weeks, on Wednesdays, representatives of the Central Bank, famous financiers, economists and bloggers will share with the audience the secrets of smart money management.

The first lecture will take place on September 20 in the library named after N. A. Nekrasov. Why money is usually not enough, no matter how much it is, how to correctly balance income and expenses, how much to save monthly so that it does not hurt excruciatingly - these and other questions will be answered by Mikhail Mamuta, Head of the Consumer Rights Protection Service of the Bank of Russia, and Director of the Banking Institute Higher School of Economics Vasily Solodkov. They will talk about effective personal finance management techniques and tools that help in this, as well as discuss with the audience common mistakes in handling money.

The Financial Environment project will run until the end of 2018. At the next lectures, experts will share life hacks on how best to save and increase their money, how to get a loan and not get bogged down in debt, how to learn to understand the essence of economic news and not be afraid of their complexity. Lectures are aimed at a wide audience with different levels of knowledge about finance and economics. The schedule of lectures can be found on the project website.

So, again: September 20, 19:00, Moscow, Baumanskaya street, 58/25, p. 14, Central Library. N. A. Nekrasova. Admission is free, but seats are limited, so register in advance using the link below.