How to manage your money so you don’t feel trapped in life (part I)

In order to be able to manage your money, you need to think of two things; what is your income, and what are your expenses on a monthly basis.

As income we consider the salary we get from our job, or any other money that you are paid.

The simplest way is to do a mathematical operation which is from the amount of the salary you receive (income) subtract the expenses (fixed and variable) and the difference you have will be the amount is left for you to use it either as a saving or to other variable expenses.

If the difference is very low to zero, or even minus, then you will need to evaluate again the calculated variable expenses.

We will present you some ways so that this amount is not close to zero and that you can put little by little a small amount to your savings which you can use for any of your goals or emergencies.

We would like to highlight the importance of having an emergency fund. 

income – expenses = profit (or savings)