Keep a calendar on your desk or near to where you sit and use it to note down exact and approximate dates when money is coming in. This could be in the form of payment, salary, money owed from friends and even upcoming expected cash bonuses and gifts.

Also, note down when all bills are due as soon as they come in. Mail payments for credit cards at least one week in advance as to avoid late fees.

The best and more convenient method is to pay bills on-line or better yet arrange direct debit from the bank, this will save you the headache of having to go and pay it in person and make life easier. Set aside the‘ best’ days to pay bills according to the date you receive your salary.

Do it as few times as possible-allot two special dates in which

all bills get paid rather than haphazardly. Make sure bills are all paid off before the due date.

Make a specific marked envelope marked paid to place paid bills in and keep unpaid bills in another envelope marked unpaid. This will help organize bills into one group or another.

Keep these prominently displayed wherever you sit the most.

Track your spending habits

Print a tracking sheet form from the internet. Write down all of the cash spent by the category it was spent in.

Categories may include groceries, petrol, gifts, books and magazines, eating out and miscellaneous. Categories are personalized and can

be as many or few as needed.

Keep the tracking sheet wherever you will be sure to use it and make sure to make a master copy and other copies to circulate.

Write daily so you can remember what you buy and even place items that are only minimally priced.

Keep a notepad with you to track spending. Even little incidentals like a pack of gum or deodorant are worthy of noting.

Remember if you paid for it then it is worth mentioning in your notebook..

Develop a spending plan or budget

Make a columnized sheet in which the first column will be planned spending. Once a week list in that column what you really spent from the tracking sheet. At the end of the month subtract the

amounts and seeing the difference will help further tighten your budget.

By understanding and knowing exactly where money is being spent every month will make it easier to cut down on extravagant items versus the absolute necessities.

Use it also to plan what your priorities are for the month.

Plan also for expense that will not occur on a regular basis every month by taking the yearly cost and dividing by 12 months and list it on your spending plan.

Open a savings account to plan to save for periodic expenses

48 August 2018