Realised that you are in deficit?

Maybe you now completed your calculations and realised that you are in deficit.

This oughta mean that you have absolutely no money left and pretty much owing debts!!

That's ok, you are not the first so congratulations on being the next person to be in debt. This issue can be resolved by allowing yourself to open up your mind and pick out exactly what you really want and what is useless to you for the time being. This method will allow you to have a look at the things you buy and maybe get them in small quantities? Maybe you smoke too much per week, or maybe you go out too much and spend too much money on shopping.

This method will allow you to realise exactly what you can cut down and will help you reduce your spendings and therefore increase your balance and hopefully get you into surplus.

Expanding your table of spending vs saving

Now that you have created your table, you should list out your income (itemised). Further to this, you should now list out your expenses for the period of time you earnt the income listed.

Note: You need to be able to capture all of your income and spendings. Ideally, you would do this over a monthly period.

When your figures are now put into your table, you should start calculating whether you will be in deficit or surplus each month. By doing this, you can now determine how much money you have left over each month. After doing this, you will use your value of the number 1 prioritised item on the list and divide it by the figure which was calculated in your table. This will onlyt work if you are in surplus.

Saving up for your top priority on your priority list

Now that you have created your list, you should now get a pen and paper and draw up a table where you can split up into two columns and have one column representing your income, and your second column representing your spending. Now that you have done this, you should already know how much you earn, so you should write down exactly how much you get paid.

Note: you have to choose on your own whether you want to do your calculations in terms of weekly, fortnightly or monthly.

Saving up your money

Wanna know how to save up money? First you need to decide on what you need to buy. You should do this by creating a list of what you want to buy. Select the 5 things which you really want the most and then prioritise from 1 to 5. After you prioritise them, do your research and determine what their value are (in other words find out how much each item costs).

When you do this, you are now in a position where you have an aim/goal. This means that you now have something to look forward to! Believe it or not, a lot of people struggle to find out not what they want most! But to prioritise what they want exactly! This then pushes them to save up for more than one item and then realise it is taking so long that they end up spending their money on an item which is so far down the priority list they end up regretting it!.