It is hard to earn a good amount of money working as an intern, and we know that it is hard to resist a good sale – we’ve been there! However, with a little organization it is possible to reconcile low wages with shopping and still save money every month! That’s why we’ve put together some tips on controlling spending and saving money so you stop feeling like you never have enough money for every thing you want to do and really starting to save up!
- Write down all your fixed expenses
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This tip works a lot for those who pay monthly bills, such as light and water or even Netflix and internet. Write down all your monthly financial responsibilities and calculate your salary by subtracting those expenses. Putting everything on paper makes it easier to organize and helps you to know which part of your salary you will have to spent every month.
- Note sporadic expenses that are frequent
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Look forward to Uber’s spending, parties, and Friday night’s bar so you can separate an amount of money for this functionality. That way you will not be caught by surprise at the end of the month!
- Set goals for your money
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With all the expenses listed on paper, you can separate the money for each function and see how much you can save at the end of the month. With that amount you can set goals, such as making a trip or going to a concert. Creating a goal for your money make it easier to save.
- Always save some percentage
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This tip is linked to tip number three, even if you have nothing in mind it is cool to save a percentage, even if a small one. It is good to separate it into another account, such as savings account, or investing it! With this ability you end up getting used to the idea of saving money and also realize that you will not be missing much during the month.
- Before you buy anything ask yourself if you really need it
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It may sound cliché but it always works. Thinking about whether that utensil or clothing is really needed helps to avoid wrong expenses. After all, we often buy things by impulse – we can even use it, but sometimes it is just not necessary. Conscious consumption must be a slogan.
- Make it a habit to save money
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A great way to raise money is to save on what is already fixed, to reduce expenses and to opt for more economical options or even to avoid certain expenses considered perks help a lot to save money.
- Forget the credit card
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We know that it is practical and that it is often the most viable solution for certain accounts. But starting from the principle of necessity you will see that you can give up the credit card. After all, that expense it is money that in fact you do not have and, later, you will have to pay it.
- Investments are great!
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If possible, make an investment that yields over time, be it direct treasury, savings or stock purchase. There are investments for all budgets, so assume that when you apply any amount it will yield! You can research what makes the most sense for your economic situation and here are some ideas on three investments you can make with you Intern salary!
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The article above was edited by Laura Ferrazzano.
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