Make Little Things Come True Through Money Management


Life isn’t just about having big dreams, expensive comforts, and high-end luxuries. In the race of maintaining your hectic schedule and working hard to earn more, you may often fail to remember to take advantage of the simple pleasures of life. Well, these pleasures might seem insignificant or playful in nature but they can be responsible for bringing immense satisfaction. They are tagged as greater joys of life.

So what exactly are these joys of your life? Well, here are some of them:

• Watching the moments of joy on your child’s face when you take them for the dance classes.
• Dropping your partner for Zumba classes while going to your office.
• Pursuing that wishing hobby of learning to play guitar.
• Watching your much-loved singer performing live.

This list can hold countless such reasons. You have a heartily longing to experience these finer joys, but then there is the other side of the track which suggests being practical to make them happen. You need to have time in order to do these little things while managing your finances to spend about the same.

Well, making your time management, fairly easier. The best thing to start this is by waking 15 minutes earlier every morning. In addition, you can reduce your screen time or digital media hours. Moreover, you can even mark a dedicated hour for the day to spend with family and also for yourself.

But, have you ever wondered about the money part? Well, this demands awareness and proper planning at your end. So here is what you could do to accomplish the bigger joys in your life without getting tensed about the finances.

Create a Budget

Pen down your total income and expenses (works better if done on an excel sheet). Take a good look at it every fortnight or a month. Find out the reasons in case you have surpassed the budget on some counts. Your aim should be to live within the set budget.

Save Smartly

You should focus on saving at least 15 – 30% of your in-hand income if you want to hit the key objectives of your life i.e. own a home, child’s education & marriage, retirement, etc. Keeping a long-term point of view and allocating your savings to a diversified portfolio containing fixed income securities, insurance plans (life, health and non – life), and equity funds for more advanced risk-return trade-off. Also, an emergency fund shares equal importance, and it should be equivalent to your 3 – 6 months, aside to tackle any unforeseen expenses. Similarly, you should push a part of your income towards the expenses that you will need to grow on the finer joys of life. With its help, you and your family can take advantage of the small pleasures of life without putting an additional burden on your fixed budget.

In case you plan your time and finances appropriately, you need not forget, give up or delay those finer dreams in your life ever. What are you waiting for? Start planning today, as your little joys are waiting to unfurl!

Comments

  1. Kjerstin Lis23 August 2020 at 09:36

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