The Secret to a Happy Salary

ARE YOU STARTING to worry about the stability of your finances? Yes, you're working a lot, but at the same time you're spending a lot?!! I know how it feels :( and it is so frustrating when you're broke and penniless. 

I can still remember my first pay check. I could laugh right now, figuring-out how I managed to survive with that amount way back four years ago. My salary did increase drastically year after year, thanks to "G". However, whenever I look into my savings account---I promise, I could cry a river! :(

Luckily, through a lot of soul-searchin' (what? haha!), just kidding! I am now so determined to save a part of my income and manage my salary smartly. So, I'm gonna share my secret with you---the secret to managing your money well and saving for the future. 

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I think most of us enjoy shopping and food tripping. And since you can't get things for free, every transaction will involve money. And because you are having fun, it will be too late when you notice that you already slayed your wallet. Good for those people who has a strong self-control when it comes to spending. But for those who can't manage the urge of buying, well you should continue reading ^_^

The secret is very simple: You just need to divide your income into three: expenses, savings and recreation. In that way, you'll be able to limit yourself in spending too much on a single expense and will definitely force you to save. 

Before, I don't allocate a specific amount for savings, whatever amount that was left in my wallet after shopping or paying bills, will be directed to my savings account---and I regret for doing that before, You should be very specific in the amount that you want to save, as well as the expenses that you'll have, in order to avoid overspending. 

I call this strategy as the "Glass jar banks". You'll need four wide-mouthed glass jars with lid, paper, scotch tape, scissors and black marker. The jars must be clean and free from any odor. Make sure to attach a strip of paper on each jar.

You may now start labeling the jars! I decided to use three identical jars for my expenses, namely: monthly dues, personal bills and fun. The fourth jar is different, and this will house my savings. ^_^

The 'monthly dues' jar is for my monthly regular expenses, which i'll use in paying for my phone bill, dental checkup, groceries and graduate school tuition fee. Meanwhile, the 'personal bills' jar will deal with my personal hygiene necessities, makeups, transportation fare (going to work/school) and other maintenance stuff (vitamins/supplements, clothes etc.). I would buy basic apparels for my work at least twice a month, that's why I included that on my personal expenses. Moving on, the 'fun!' jar is for recreational stuff. When I lunch/dine-out, like in a buffet with my workmates or go out-of-town with my friends, this will be my source of money. Also, if I want to go shopping for new clothes, shoes or bags, or pamper myself in a salon---this will supply the cash. 

And the most important is the 'savings' jar. as much as possible I save at least 20 - 30 % of my income. I'm not getting any younger now, and good work opportunities won't be there forever :)

Aside from using my jar banks technique, these tips will help in monitoring your finances.

1. Set a budget for your expenses. Make sure you won't spend beyond the set amount and will focus on the things on your expense-list.
2. Save on your transportation and meal allowance. If you can walk instead of fetching a cab, better do it---it's exercise plus you'll save a few bucks. Packed-lunch and snacks will be cheaper than purchasing food from a store or cafeteria---healthier and tummy-filling choices.
3. Secure the basic pieces for the clothes and shoes. Whenever I buy these things, I'll see to it that they can be used in several occasions. I'm always up to the quality (so it will last longer) and re-usability (mix-and-match different pieces) of the garments and footwear.  
4. Always settle for things that will give you the best offer for your hard-earned money. 

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At first, it's very hard to break the routine of being an overspender. It's true that you should always enjoy the fruit of your hardwork. However, if you're now approaching the adulthood stage, then you should start preparing for bigger responsibilities and unexpected possibilities in the future. 

Life is too short, don't waste the time and enjoy every moment. However, Youth will not be with you forever, make sure to prepare for senescence as well. :)

Treasure every cent, because these are products of your sweat, 

---Miss G.