The Rest for Living

My last suggestion on managing your money is

The remaining of 60% of your salary is meant to support your living expenses.

I put this suggestion last because only then your life would be focus on the future more than the present.

Why care about living last? Because normally many people would say “I save what is left at the end of month”, that “what is left” sometimes would be zero in figure. That’s why by putting your living expenses at the end, you would be force to budget your expenses for the whole month at the start of the month. This would ensure a constant increase in your future modal and also a living now.

Not enough? Is that the question you have in mind? Then budget is the word you need to learn. A budget helps to limit your monthly expenses, you would be more aware of your financial status within the month. This would help you live the life you want and also save some for the future.

How to budget? This is only my suggestion, you would have to try it out to see whether it works on you or not. First of all, take care of those overhead you have every month, such as rental, loan payment, family support etc. After that, you should take into account your living expenses such as food, transport, electric etc. At the end, would be your miscellaneous expenses, such as entertainment, clothing, etc. Budgeting is about prioritizing, you should put the “must do” things first and the “want do” things last.

If you have been following my blog from the first article, the suggestion I made to you are also arrange according to priority. I suggest to invest first, enjoy second, upgrade third, help others fourth, long term fifth then care for now last. That’s the priority of many millionaires according to books like “ Secrets of the Millionaire Mind”. I have no millionaire friends but the author does. So we learn and use, some day we would be millionaire too right?

Have a try, budget today with the mind of

60% to live.

By,
Yong Yeong Chow
Public Mutual Unit Trust Consultant.
MSN: yyc83@hotmail.com
* Catch me on MSN for a chat.