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3 Simple Ways to Manage Your Money Better

Is money an issue for you? Does it seem like you never have enough, or are you just starting an independent life and you’re confused about the financial aspect of it? Here are three quick tips that can help you manage your money better.

Start Early

When it comes to learning anything, it’s usually best to do it as early in life as possible, and money is no exception. You don’t want to end up trying to figure these things out in your thirties, when you’re maybe already hoping to buy a home and start saving for your pension. A great way to start thinking about your finances is learning how student loans work. Just when you’re entering higher education is a good opportunity to take responsibility for paying your own tuition and learn how it works to take out and pay back a loan. Doing the research yourself and then taking out a student loan from a private lender is a good first step towards financial independence. Another option might be to get a job for the holidays, either when you’re still in high school or once you’ve already started college, and learning to take care of your own expenses and savings.


Be honest with yourself, do you know where all of your money goes each month, or does it leave your bank account willy-nilly? Budgeting is always a useful tool for managing your expenses and knowing what you can afford to splurge on. Make yourself a monthly budget, starting with the necessities like rent, utilities and groceries, and then, based on what you have left from your monthly income, you can determine how much you can afford to spend on other things you enjoy. These can include fitness, clothes shopping, house renovations, nights out, or travel. These rules don’t have to be strict and you’re free to move things around from month to month, but it’s good to have a rough estimate for how much money you have, and what sorts of things you want to spend it on.


When you’re making a budget, it’s important not to spend everything you make every month. Even if you’re not saving for anything in particular right now, you’re always going to want something expensive in the future, and then you’ll already have a head start in saving towards it. Having some savings is also going to save you when large, unexpected expenses come up, like a car mechanic or hospital bills, which you can’t accommodate for in your regular budget. Lastly, it’s just good to get into the habit of saving, for every time you’re going to be doing it in the future. Choose a monthly amount that you won’t spend and put it into a savings account after you get your paycheck. There’s also a multitude of apps out there that will do this task for you, taking a set amount from your bank account at predetermined intervals, and these can be massively helpful if you find it too difficult to keep track of manually.

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