A monthly budget that is not exceeded
After determining the balance between your global and personal incomes, you can create a monthly budget that you will not exceed. This budget must include your most important expenses, such as rent, utilities, food, and so on.Not only must it cover your most important expenses (rent, utilities, food, etc.), but it should also cover the costs of your leisure activities. It is important to have a budget that is reasonable and does not result in financial hardships. A spending limit is a great way to improve your money management.
Savings are what you should be thinking about
You must save money to save money. It is not always easy to set up a savings plan. It requires that you carefully calculate your expenses and be thorough. If you decide to put aside 150€ each month, make sure you keep your word and don’t crack at the end of the month by promising to save a little more the following month. Set goals for yourself with the money that you have set aside to motivate yourself to keep your promises. This could be buying a car, or financing a trip abroad. Give yourself the tools to succeed!
Check your accounts on a regular basis
There are weeks that pass by when it comes to spending. But they don’t always look exactly the same. You need to keep track your expenses in order to balance your budget. It is easier to understand the value of money if you keep track of your spending in a notebook, spreadsheet, or app.
It’s a good idea, once you have a clear picture of your expenses, to break them down into different categories (rent utilities, food outings, food, etc.). This gives you a complete overview of your expenses, and allows you to adjust your budget as necessary for the remaining days.
Pay in cash or check
It is difficult to imagine any return to the old bills or coins that have been left in our pockets, when contactless bank card payments are commonplace. Yet! What could be more efficient? Being able to “touch” your money to realize its value.
In other words, it is best to resist the temptation to accept contactless payments, which can push us to buy.
You have aids at your disposal
You have many options to help you live your life as a student. APL, scholarships, and all reductions that come with the student card are just a few of the lesser-known schemes. You can claim an activity bonus if your work-study program is completed. Do not hesitate to ask questions, especially at your school or university administration where professionals are available to help.
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Adopt healthy eating habits
What are the best eating habits for optimizing your budget?
Here are some habits that you can adopt in your everyday life: Make a shopping checklist and stick to it. This means no more impulse buys or little packets of chocolate-filled cakes left on the counter.To avoid impulse purchases, shop full-fledged to avoid buying unnecessary products. Buy large quantities (lower prices per kilo) to save money on products that can be stored or frozen. Consider creating a weekly menu and preparing your meals ahead of time to reduce food waste. Keep an eye out to food promotions. Give preference to seasonal and local products. Also, consider the end of markets for the most attractive prices.
Always compare prices
It is becoming easier to unsubscribe from services today. It doesn’t matter if it is a phone company or an internet box. You can easily unsubscribe. You may feel the need to change because the price is too high or you realize you don’t use the service much.
Online comparators can help you save money.
Use the right energy reflexes
To save money, you should stop turning on the faucet for too long, charging your phone all night, and taking 15-minute showers. There are many small things you can do every day that will make a huge difference in your daily life. For example, don’t leave your phone plugged in; use LED light bulbs. Regularly defrost your fridge and freezer. Cover your pots and pans to heat water faster. Do your laundry at a lower temperature.
Consider dedicated applications
There are many downloadable apps that will allow you to save money every day. There are many options available for you to save money on food, carpool, and buy second-hand clothes.
We can also talk about the specific apps that you can use to manage your budget. You can always use your smartphone to view your finances, even if you don’t like spreadsheets and tracking books.
You should also note that there are applications that use so-called solidarity trades. You can, for example, trade moving aid for a secondhand microwave oven.
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