Mastering Your Money: Smart Spending Habits in Your 20s
Mastering Your Money: Smart Spending Habits in Your 20s
Fear of finances and the responsibility that comes with them should not be a reason to ignore what’s happening in your wallet. Here are some healthy habits to adopt that will help you avoid the fear of running out of money by the end of the month.
Know Your Monthly Expenses
Financial planners recommend keeping track of your monthly expenses, one-time expenditures, and net income. Categorize your fixed expenses and subtract them from your monthly income. The main categories of expenses are usually:
- Rent
- Utilities
- Food
- Clothing
- Personal care
- Entertainment
Whenever possible, allocate a sum for
