Spending on things we love and things we crave is justifiable. What matters and is it worth it. Intellectually people would consider something that is needful and that satisfies you is worth every paisa you spend.Some unfavorable situations teach us to manage funds efficiently. There are better ways to learn funds and expense management resourcefully.Funds accumulated to spend for regular or special occasions are not justified, as we do not define what is regular and what is special? Fund allocation makes expense management organized. What changes when we organize, plan and strategize our expenses?We are able to streamline and classify the expenses better. Decision making eases with the classification tables you create. Prefer documenting it in any way that reminds you of the new expense management strategy.Managing expenses should not make you feel as if you kill yourself daily. Innovative ideas take first place in making a happy choice for expense management.Just as nothing is impossible, nothing is unmanageable, not even expenses.Food Expenses: Treat to friends in a quality restaurant of your choice. Food bills can shoot up when everyone orders separately. There isn’t actually a way to control if you do not prefix the menu for the event. Talk to the friends about their food choices, chalk out a menu that fits your budget, and approach the restaurant for the menu and discounts. We are aware of the online schemes, if you have a place that suits the party theme then ordering food can be a better option. Grocery Expenses: Compare the retail and online rates, buy specific things online and other from shops. Manage the payments using the cards that have schemes or malls that have cashback or discounts. Smartphones and laptops make these comparisons speedy and efficient.Apparels Expenses: The clothing trends and our needs/choices always keep swinging causing it to veer offs our decisions. More importantly, the weightage we give to our dressing varies unknowingly. Liking clothes and being shopaholic has a huge difference. The first one shows the way of being and the other one indicates the way you spend. You may like something and buy it abruptly is not at all bad but is it your pattern. If you identify a particular, shopping pattern that hampers your plan for expenses work on it before it’s too late. Educational Expenses: Life may come up with opportunities that you need to grab. Turn on them to learn new things and that can need some investment for your career. The planned and unplanned educational expenses of yourself and your dependents, you may fulfill without disturbing your investments or taking loans.Budgeting: When it comes to the monthly budget, some people stick to it like adhesive. Another way out is to calculate if building stock of a few things is giving your cash flow some shock or just a light pinch. Money lying in the bank account and stock sitting is home shelves are not going to give the same returns. Interest on money versus the comfort of holding some extras stock of items depends on your requirement. Your type of lifestyle, availability of time, spending patterns, an inflow of income, and your thought process including the prefixed notions can impact the budget.Planning the unplanned: Negative is the flip side of positive, time never remains the same. Today you may earn piles of money and then see a downfall. The habits you cultivate for using the money wisely can take you through huge troubles. I think the tight spots of life are to be lived quietly like a duck paddling hard to find food. It is possible if you led the jolly days sensibly. You know your needs so plan for all kinds of expenses including the insurance, occasions that may arise, medical emergencies that can pop up out of the blue, educational expenses and absolutely anything that you don’t dare to think of.Loans, EMIs and Credit Cards: The facilities that look fancy and easy to approach may be a trap for you. The marketing gimmicks of companies, financial institutions, and banks may lead to a massive gap in the wealth-building. The support of EMIs, loans and credit cards can become a habit that you may never be able to break. Using both of them precisely when needed is a prudent decision. Limiting yourself from creating an urge to spend because you have easy access to EMIs, loans and credit cards is not being a miser. You get wiser with each step you take towards saving more and this happens with individual experiences. Needs may differ but everyone has XYZ set limited funds that they need to manage and spend from. Managing expenses will give you that extra financial security, that something to invest or save for some special moment. Make saving money a habit before it leaves you broke and discontented.It may look childish but once you cultivate a habit of asking questions to yourself before spending money, you may discard the checklist.Create a checklist for yourself:? Do you need this product or service?? Is it a useful product or service?? Have you compared the rates?? Are there any offers approaching?? From where are you buying and why?? Is buying that your necessity or you are doing it for an emotional boost?? Payment mode you select is going to impact your cash balances, investments or not? ? Did you plan this expense?? If you did not plan for it, how come you missed it during planning?? Do you have too many unplanned expenses to handle?Chalk out all that comes to your mind and keep making changes in the plan to improve your position. The answers to these questions may be positive or negative; initially, it should not matter as its learning phase.Once seasoned in dealing with the adversities of managing expenses you are going to reach a level of self-certified expense tracking.Your life is not about money as said by most of the saints; we cannot ignore the fact that it is the only means to survive unless you have a magic wand.
