* SAVE FIRST BEFORE SPENDING
I think this is the hardest part of the financial budget if you are earning just right for paying your monthly bill and daily necessities. But what will you have to do ? . You dont need that high portion of savings everytime. For example , you have $50 on your hand in excess of your expenses, budget it for a week in a very cheap way , groceries would be better, then save what is remained. Take aside your weekly starbucks and put it on your bank.You can take coffe at home or on a cheap way. Small amounts will get big in a time and you can start investing after. You can always reward yourself after if you start investing and earned passively.
This is what you call pay yourself first. Even if only a little amount upon receiving your salary, you need to pay yourself by saving a little amount because it will be accumulated eventually. If you do it this way, you can always save because the tendency when you save after expenses is that there will be nothing left because you will think to save next month or even worse forget that you need to save. This is the usual case that's why savings should come first before spending. Having a budget is the smart way to do it wherein you need to jot down your expenses so that you can distribute your earnings properly. It is even ideal of you list all your expenses so that you will know what expenses you overspend and then adjust it accordingly and see what expenses you can possibly save.
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