Money management is an important aspect while we are living in this 21st century filled with challenges to simply survive. The cost of living is steadily increasing as days pass by and more people are struggling in order to pay the expenses. There are so many things to pay every month, such as utilities bills, house rent, car loan and also insurance. This simply shows how hard it is for people to maintain a comfortable life since even a salary of 2k might not be enough to cover all these payments. It is not surprising that money management has also become an issue in order for more people to save money. Hard for them to do that when they have barely enough money due to overspending. This does not only apply to the teens, but also adults despite their responsibilities to pay the bills and such.
Sometimes, it might leave you wondering about this particular question. Where does all our money go, exactly?
Besides the utilities bills such as the water and electric bills, people are used to subscribing to streaming services like Netflix and news. Do you know that it is very common for people to subscribe to Netflix due to that being the main source of entertainment at homes? This streaming service allows you to watch the latest movies and even update you on new series coming. As for the news subscription, this is essential for the entrepreneurs and elederly to get their daily dose of news updates all around the world. It is recorded that New York Times (NYT) have about 7.5 million subscriptions.
Another reason we spent money is for investments. People invest in property of forex trading for various reasons. Some plan to make more money to expand their business, reach their financial goals and some focus on saving for their post-retirement days. Whatever reason they have, people have been investing because they are confident that it will turn into profits and benefit them in the future. Forex trading, especially, has been the star for investing parties as this act of selling, buying or exchanging foreign currency is very popular these days. If you are interested to start, check out this best global market trading brokers.
This is probably the culprit for overspending all the time. Most people, especially the teens and women, seem to find it hard to refrain from buying products online. The trick is that the products sold online are mostly super cheap and there’s no harm in spending some money to buy them. There are even discounts and sales every few weeks as you can see from their mobile applications. Some of the well-known online platforms are Shopee and Lazada where people shop till they drop in the virtual world. So, what is the problem here? The prices are cheap and there are discounts too. The issue is that when the products have low prices, people go out of the line by buying too much. They might not notice due to the prices of each product that seems safe for their savings, but the total amount for all the products they shop will commonly exceed their budget. Then, they realise they overspent and there’s nothing they can do about it.
All in all, there are actually many sources where we spend our money every month. It’s up to us to manage our spending well so that we will not be struggling in the future.