I know how it feels when someone says I’m broke. It’s just like how I felt a few days before. And if we see today’s youth everyone is always broke. Our pocket money comes and goes and we don’t even realise when and how. This is a major issue these days and thus I’ve got you a solution for saving or say budgeting your pocket money. You will not only be able to save your money but also control its outgoing and incoming.
To save your precious money, make a list of all the spending you do in a month. Categorise your money spending such as travelling, food, clothes and footwear, makeup, phone bills and other things you spend your money regularly. For instance, my pocket money is Rs.5000 per month, on travelling I spend Rs. 2000, on food I spend another Rs. 1500 and my phone bills cost me approximately Rs. 500, which leaves me with Rs. 1000 out of my monthly pocket money. Travelling and food are some things you can’t minimize so you can only play with the money left i.e. in my case Rs. 1000. So now it depends on me where and how I do my budgeting. I might wanna buy shoes or I might wanna contribute for someone’s birthday gift. In any case, I have only Rs. 1000 left with me.
What happens sometimes is, you want to buy that makeup kit or those Skull Candy headphones which are gonna cost you Rs. 2500 but you only got Rs. 1000, so what you should do is avoid going out that month and save yourself some cash and use it on something you need instead.
So make a list where you know how much to spend and on what to spend. This will give you a rough idea how to spend your pocket money in the best way possible. Always keep a little amount in saving every month. Also, eating junk will only harm your body so I would say don’t waste your money on unhygienic food. Remember to keep a fruit in your bag with you daily. Also, shop efficiently, there are sales which help you save some cash. For travelling, use metros, buses or shared cabs, that will help you a lot.
Sometimes you even run out of cash because that month was a busy one and you had to go out for site seeing and had to buy extra food also. That month is your worst nightmare. To save yourself from this kind of a trouble, I’ll advise you to always keep saving a little every month even if it’s Rs.200. At least you’ll have something in your hand in and emergency.
Moreover, make sure you don’t cross all your set limits if you have to spend more on food, reduce your shopping for that month. Otherwise, you’ll run out of cash. And make sure you don’t overspend every time. That’ll leave you with nothing in hand.
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