So you want to stretch your budget? Me too.
If you want to achieve this goal, you have to prioritize the things you need to scrimp with and splurge on.
You can stretch your budget by making intelligent choices and decisions. Here are a few steps to consider:
- Write down what you need to purchase and prioritize the more important ones to the less important ones.
- Before purchasing something big, ask yourself: “Do I really need this now or can purchasing it wait for later?”
- Write down what you spend on, be it a chocolate bar or a new bed, to help you monitor where your money is going. You may be surprised to see that you are spending more on non-essential things than on the must-have items. (Are the hair pieces worth the investments than going to the hair salon every few weeks or so for a new hairstyle?)
- Make room for financial investments, be these real estate property, shares in the stock market or financial plans. Talk to a financial adviser so that your investment does not end up in the wrong hands.
P.S. I wrote the article linked.
