How to Fight the Month-End Money Crunch?
How to Fight the Month-End Money Crunch? https://www.fundstiger.com/month-end-money-crunch/ Running out of money by month-end is a common phenomenon . In order to get out of the financial crisis faced during the end of the month, you need to have a budget. A fixed budget will help you reconcile your income with expenses. Not having a budget will let your spends get out of hands, leaving little or no money at month-end. To get rid of this problem, you need to prepare a budget, differentiating essential spends like paying bills, EMIs, flooding expenses, house rent from discretionary ones like dining out, watching a movie etc. Once you provide for all essential expenses, you can know how much you are left with for discretionary expenses. This will help you bring discipline in your spending habit. Worth mentioning here is that you need to put 20-30% of your income every month in an emergency fund, which you should not use other than in an emergency. Financial planners say you need ...