Saturday, September 29, 2007

Saving and Sorting Money by ATM

We're back, sorry for the long vacation. I was busy looking for a new job and now it's been two months since i started working as a copywriter. It's a dream come true to write for a living! :)

With that shared, how can we save more of our salaries and get control over them? This is a no-brainer, but i would like to share it anyway. When i got my first salary, i decided to do "sorting" of money through ATM cards. My goal was to see how much i really make each pay day, how much do i spend, and what should be my weekly allowance.

Since then, i separated my salary from other income. Even if i have money on hand from other things, i will get my allowance from my salary account thru ATM since the allowance is for expenses related to work. By doing so, i get a very clear picture of how much is retained from my pay.

It's that simple and I may sound stupid for even sharing it. It's just that some people are confused whether they are earning or incurring more expenses than savings. Money and finances are really confusing because there are a lot of factors that affect our financial decisions. Sorting money and getting a clear picture on the amount we have on hand, is a great way to lessen the mental burden from finances. Also, you get to set aside part of your savings from other income and save them from being spent. That's exactly why rich people have separate bank accounts!