Three Ways to Make Your Life Easier with Budgeting Tips


One of the problems that are often faced in managing your daily financial is an over budget in shopping. This should not be ignored because too often over budget can make it difficult for you to save. In fact, you will run out of money before payday. Of course, you will regret it in the end of the day, right? However, keep in mind it turns out that over budget can be prevented by trying to do these three ways, view more.


How to Make Your Lifestyles Easier by Avoiding Over Budget


  1. Apply to the Credit Union


Credit union is financial institution that offers a variety of services provided by banks, such as checking and savings accounts, loans, and credit cards. The difference is that credit union is owned by account holders or members, not external shareholders.


The main advantage of joining a credit union is that it sometimes offers better customer service than a bank, along with lower fees and higher interest rates. Credit union can offer this benefit because as member-owned institution, it has to work for the benefit of the account holder rather than making a profit for the other shareholders.


  1. Utilize a Debt Calculator


Often, one of the reasons people over budget is the ownership of a credit card. As we know, the advantage of credit card is that you can buy any goods in easy installments without collateral. Various types of goods from expensive to cheap ones, such as motorbikes to cellphones can be paid in installments using a credit card.


This is certainly very tempting. You have to really understand how to use the debt calculator of credit card you are using, or the one you are going to apply for. You need to calculate credit card installment interest yourself. In doing this calculation, let’s assume you take a 1.5% interest installment with a tenor of 6 months to buy a car.


For example, the price of car is $20,000, taken with a tenor of 6 months and an interest of 1.5%, and then you can calculate the interest in the following way. The interest that must be paid from the total price of the car is $20,000 x 1.5% = $300. While the monthly installments to be paid are ($20,000/6) + interest = $3,333 + $300 = $3,633. Therefore, you have to pay $3,633 every month for 6 months.


That is how to calculate credit card installment interest, and the amount of installments you have to pay every month. By knowing this, you can consider yourself whether to take it or not. For your information, using zero percent installment promo is also quite profitable. Always keep in mind, choose credit installments according to your ability.


  1. Budget Your Wallet


If the two methods above do not seem to be able to help much, all you need to do is limit your spending budget according to your wallet. Don’t shop what you don’t need; shop according to your needs and your wallet.


By doing the ways above, you can at least reduce the risk of over budget in shopping. It is advisable to make a list of needs first before leaving for shopping. Make a plan for the price of the goods to be purchased, and then add up. That way, you can estimate the total money that must be brought.


You may leave your credit card at home if you can, so you do not go crazy shopping. In addition, you must also consistently adhere to the shopping list which has been made, and refrain from being tempted by the items you see.


Stacee R. Grigg

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