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Tips to save money on a tight budget
Introduction
• Running short of money is something that can happen to anyone anywhere, therefore planning comes into picture.
• Getting acquainted with your incoming and outgoing finances is always good to keep a track and thereby control the cash flow from your account.
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1. Make a note of your expenses by creating a monthly budget
• Calculating your finances will always help you know and track down all the expenditures you need to make in the coming month.
• Divide expenses according to the areas your funds will be utilized for.
2. Pay off your debts
• Debts are sometime unavoidable;however, if your salary is spent in a controlled manner and are able to adjust in the existing resources you can certainly live life debt free.
• Paying off our debt well in time can help us not fall into that financially tight situation.
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3. Use credit card only if you can pay back in time
• Credit cards are good till the time you can make the payment well in time otherwise you will just end up accumulating interest and paying credit card bills.
• Failing to pay your credit card bills can lead you into a financially tight situation.
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4. Try managing within the resources
• Manage your monthly budget within the resources available and that you do not have to borrow for any external source.
• Remember borrowing money will always come at a cost.
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5. Get insurance for yourself, your family and vehicle
• A thing providing protection against a possible eventuality.
• Availing an insurance helps us fight any emergency situation without having us pay in cash for the purpose.
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6. Beware - Do not overspend
• If you are not in a financially tight situation then do not over spend and fall in the debt trap.
• I am sure that there are many who would run cashless, especially while heading towards the month end.
For more details visit : https://www.letzbank.com/
Contact usLetzbank,Plot No. 4,, 1-98/8/9/A, Image Gardens Rd, Madhapur,500081 Hyderabad, Telangana,India.
040-48586878
For more details visit : https://www.letzbank.com/
Thank You
For more details visit : https://www.letzbank.com/
