After a certain age and depending on the circumstances, there comes a time when every child moves away from the nurturing arms of the parents and learn to fend for him or herself. Here we are not necessarily discussing the Collage circumstances where one’s parents send you money for your tuition as well as lodging but you move away from home, this is more about when you are completely left alone to our own devices. For some kids, it is earlier than others. Here are a few tips for you to watch out for and do in managing your finances and food when you finally start off on your own.
This a tough one which takes a few years to master. The new found freedom to do anything you please with your money is euphoric, until the day you realize you have none left due to spending it all on some frivolous item and you have no one to consult in order to even get some back up cash. This is when most people turn to personal loans which end up taking away the best years of your life because you are tied up with debt. The easiest way to manage your finances is to first destroy all credit cards that you own. These are the worst killers as they allow you to spend without realizing the actual amount.
Thereafter, set aside a certain sum of money for emergencies and under no circumstances should you tap into it unless you are dying. Thereafter, try to save up a certain sum in maybe a bank account without mobile banking or an ATM card, which means you are forced to go to the bank to withdraw money, and you very well know this will happen only when you are most desperate. If you are forced to take on a private loan maybe to finance a car or an apartment, in cities such as Singapore, do your research and get the lowest interest rates before getting a personal loan to a efficient consultant.
The correct management of food can save you a ton in grocery and restaurant bills as well as hospital bills later on due to not eating healthy. The easiest way to save money and eat healthy is to cook your own food. If you are living alone, or with a roommate, try to keep your refrigerator stocked and eat at least one meal from home. If you are better with your cooking skills, think of healthy ways of making delicious dishes and lose out on the commercial fats and oils used by stores which are very harmful to the body.