Your monthly standard of living is skewed
If your month starts with endless shopping trips at the mall and lavish dinners in fancy restaurants and it ends with you in front of the TV slurping noodles, there’s clearly a glitch in the Matrix. For one thing, you’re not properly taking into account the meals and groceries you’ll be needing in the next 30 days of the month. Furthermore, you’re probably miscalculating food costs in general. Not in your favor, I might add.
Try to allocate more money for food and other things that take a bigger bite out of your budget from the very start of the month, to avoid having problems paying for them as the end of the month gets closer. In addition, review your habits when it comes to grocery shopping and eating out and try to find ways to save money. You could start by cooking more at home, using coupons when shopping or looking for sales and discounts.
Most of your monthly salary goes toward one big expense
If you receive your salary in two installments, using most of the first portion to pay the rent or the mortgage might seem like the best approach. But if you have to pay for something out of the blue, like a medical bill or a house repair, your plan to pay the rent or mortgage on time could be seriously affected.
Therefore, to avoid having to struggle to catch up with your payments, try to set some money aside from every salary for rent, mortgage or other similar payments. By doing so, you can make sure you’ll always be financially prepared to deal with unexpected expenses one month.
