For some people, especially those with account phobia or shopping addicts, it is almost difficult, if not impossible, to manage their budget. And even if this is a complicated task that you shouldn't leave to chance, managing your budget is something you simply learn! Of course, there are certain principles to follow so that a person can avoid large expenses and manage their money properly
Overdrafts are strictly to be avoided
If you want to manage your budget properly, your first reflex is to avoid bank overdrafts thanks to good management of your deposit account, which is none other than the bank account that allows you to make your current expenses. So, a good management of your account will obviously avoid you from the costs related to the overrun, the agios and as well as the possible rejections of cheques or debits. In addition, please always monitor your actual position more closely, considering transactions in progress or not recorded by the bank. At the same time, you can also think about future mandatory expenses, such as rent payments, etc.
Dare to use the savings product
Yes, a savings product will help you to better control your budget. Every month, you should not forget to fund your savings account by putting a little money aside. Over time, the amount paid per month can become an interesting amount. So, either you save the same amount each month, or you set aside what you have left at the end of the month. Throughout the month, if you know how to manage your expenses, it will be easier to save and painless to save. Never forget that the savings you are about to make will probably be useful in the event of unforeseen circumstances, temporary cash flow difficulties... In addition, it is also possible to set up a direct deposit, forced savings. This can be 10% of your monthly income for example. As you go along, you can gradually increase it.
Other tips to help you manage your budget
Before you make a credit, never forget to think twice! If you fall for a car, for example, and you want to get it at all costs, avoid consumer credit. Just be patient by replenishing your savings account every month to pay it to yourself in complete serenity. To be able to control your budget, it is also advisable to pay your expenses in cash, i.e. to withdraw the amount you need for one week. And it is up to you to manage it well. Above all, do not easily give in to temptation when you pass by the shop windows, for example.