What is budget? Is it really difficult to set one? Where do you start? How to stick with it?
Category: Budgeting
How To Stay Dedicated to No Spend Commitment – 6 Tips
It’s easy to have no-spend days or even weeks when we have no money at all. Simply because we have no choice, especially when we can’t borrow any money either.
The challenging task is when we are a freelancer, an entrepreneur, or anyone with a lot of money, but with irregular income. One month we earn a lot of money and the next month you earn nothing.
How to Get out of Debts
During this uncertainty due to covid19, where jobs can easily disappear as businesses are going through difficult times, people start to panic and question the certainty of their income so they can pay their debts on time and avoid unnecessary late fees and interest charges. This is the time where many people think it’s better to live debt-free, to stop buying unnecessary things, and start saving. So how do you begin the journey of getting out of your debts?
Reverse Budgeting
Reverse budgeting, also known as ‘pay yourself first’, is whatever percentage or amount you want to save will go to your savings before you spend any of your income when the income arrives, and then spend the remaining amount accordingly.