Money, money, and money! This is our biggest issue and subject we think and talk of. Of course, in the world we live in, we depend on money to live life with a certain standard in our society. There might be some people who can live sustainably without any money but the mainstream human wants to be involved socially and desires at least a basic of comfort. To build our own house, we take hard money loans, we try to save some money and pay back the bank so we can one day say: “that’s actually my house”. We hustle through a 9/5 job so we can pay our bills and buy some food for our family.
That sounds like a big hustle! But it is the reality for most people. They live in expensive countries, work a lot for a little salary, and try to manage their money a little.
Some years ago, this was my story as well! I run from one job to another so I can earn a little money to make my daily life. At the same time, I was thinking of how to pay back my student loan. I did a master’s degree, working full-time in a company… but it was not enough money to save some of the cash. I started to work in the evening in a bar, to make some extra money. That’s how my life looked like. That’s how the life of my friends looked like. Hustling from one job to another so you can barely pay the running costs.
One night, after closing the bar and walking home I realized that not everything is about working more and more. I started to think of different ways how to get out of this circle. The solution was: Proper Management!
From this day, call it enlightenment or a crazy idea, I started some effective ways which actually helped me to pay back my student loan quickly, work a normal job, have time for my family & friends and still have enough money for every day.
The first step is creating a budget. Know how much money you need for food, for living, and special events. Make clear what fixed expenses you have, what income you have, and what extra money is left. Write it down! Knowing how much money you have and how much is spent on fixed expenses gives you an overview and idea of how your financial situation is.
If you know about your expenses and income, try to make a proper plan at what corner you can save some money.
Keep the extra expenses like coffee and cake in restaurants low. This does not mean that eliminate all treats for yourself. Just find a way that is good for you and your wallet.
Saving is essential. Compare prices, make a proper food plan and buy the needed groceries if possible not in the most expensive shop. You can save even on small things, but in total the saving will be worth it. Remove unnecessary expenses!
By saving daily, you will have some extra money which definitely helps you to pay back loans without working on various side hustles. Managing your money properly is a way to save money, enjoying life, and becoming financially sustainable.