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How To Spend Money When You Have Little Money To Spend
4 things I think about before purchasing anything
I am making around £1,650 per month (by the way, I would love to make more money, and I am working to get there) and in June 2021, I am planning to spend around £1,000 to be able to save £650 every month until December 2021.
That will add a total of £4,550 into my Emergency Fund which hopefully will be around £10,000. My biggest goal for 2021. To live with only £1,000 per month, I have very little spending money after paying for all my bills. This comes to around £50 per month. So I need to make sure I am using this money wisely.
In 2020, when I found myself broke, I took a whole new approach regarding spending money, so I am good at not spending any money at all. For most of that year, this is what I needed to do to survive.
I have self-control, and can say no to myself. But all of this control can result in taking away your ability to spend any money for pleasure or even making your life much worse because you are too restricted.
With money, it’s important to have a balance and make smart decisions not based on feelings, but data.
