Year 2006 predicted that economic problems will be more occur. Inflation rate recorded by 12% – 14%, but salary has rise average between 9% up to 10% although UMP (minimum wages of province) rise with 15%.
Most of employee complaint about their economic problems. So, I would like to share how to solve the problems:
1. List all of your spending categories (meal, education, household, gasoline, medical, entertaint, etc.)
2. Think of what is the priority or unavoidable spending.
3. Put the monthly amount for each spending.
4. Count up the amount and compare with your income. If your spending is being in between 75% up to 85% of your income, you can feel free. If it not, through down the step below.
5. Cut the totally amount. Count up only for unavoidable spending. If it be in 40%-60% of your income, it’s okay and you just have 15% up to 35% for other expenses. But if your unavoidable spending more than 50% of your income, feel free to evaluate the cost, maybe you can make any reduction. Beside that, feel free to reduce your avoidable spending. Try to get 85% maximum of your income for your cost living.
6. What about the 15% or 25% of your income? I suggest you, don’t think about this, because it will cover your unestimated cost.
7. How to save the 25% of your income? Open one more bank account, and deposit the amount as soon as you get your salary and forget that you have the bank account.
8. If you have installment, try to communicate to your creditor to rescheduling your installment.
9. Don’t forget to record all of your spending to compare with your budget.
It’s difficult ways, I know! But, you must do this. If not, you can’t enjoy your income. Don’t be ashamed because you must reduce your comfort living.
Or, follow this another ways. That is “INCREASE YOUR INCOME”.