How to Manage your Salary and Save More Per Month

Wandering if how to manage your salary and save? Nowadays, managing salary and saving money is the biggest problem for many people whether they are teens, adults, and parents.  

Generally, in order to learn your lesson, many will say charge it to your own experience but the truth is your experience will not be your best teacher why? Because it’s costly and painful, but learning to others experiences and mistakes will be your best teacher because why go through the mistakes of others if you can learn from them.   

Let me prove to you my point, you don’t have to gamble all your money in order to understand how bankrupt that person feels or you don’t have to be a drug-dependent person in order for you to understand how drug addict feels.   

Probably, because most of the time in our culture when it comes to handling their money, they make mistakes and keep on doing it.  

Now, if you are a person who wants to change your financial life, or earn unlimited income, and achieve financial independence. Keep in mind that your financial freedom starts with you, probably, it doesn’t start with the stuff, job, and business that you have. It will always start from you because you are the one who is taking the responsibility to your first step in order for you to arrive at your destination without paying the excess baggage in your life.   

Here, I will share with you some effective methods and tips in order to not be broke, or budget your salary and save money that can help you manage and save your money but I will answer 3 frequently questions that most people ask regarding money issues. So, without further ado, let’s get started.  

How can I save if I have a small salary?  

This question is really a way of wrong thinking because managing your salary and saving money at the same time will never be based on how much your salary is it will always be based on how you can handle it.   

Generally, the problem is not the income but the problem is the attitude of the person towards the income.   

Come to think of it, if you can’t learn to save money while your salary is still small what more if your salary is big? Probably, because what’s the difference? You are the only one who handles your money. Does that mean if you have the big income you already learn to save money while you can’t when it is still small or enough?   

The point is there’s nothing wrong to buy your dreams or achieve your dreams but the moment you increase your income, you also increase your standard of living you can’t see it in the long term.  

What is the importance of budgeting?  

Budgeting is important because it will help you more focus on prioritizing where you can spend and how you can spend your money.   

No budgeting plan can cause you a lot of problems because you will overspend your money.   

Keep in mind that if your income is limited and your expenses are unlimited will cause you to a lot of debts and for sure you will be broke.  

Remember it is too difficult when you don’t have money, so, you always need to create the right spending plan.   

Why do married couples fight for money?  

Mostly because one of them is not transparent and doesn’t have the disciple in spending money which causes them to have problems paying their bills, debts, etc. 

Transparency, honesty, communication, and trust is the main foundation of couples. Though, the willingness to be corrected by your spouse is also a big part of having a successful couple goal. They can avoid fighting each other when it comes to money if they will be honest and transparent to each other. You need to let go of your pride and admit your mistakes especially if you spend the money that you supposed to pay for the bills.  

Keep in mind that your spouse should always bring the best on you. Always be open, do not never go behind your partners back whatever expenses, investment or everything about money matters needs to be shared with your partners. The important is no matter what you fight for is you will resolve it together.  

How to Manage your Salary and Save

Tips in How to Manage your Salary and Save  

Get the Rid of Bad Debts  

This is the most important tip that you should learn, having debt is one of the reasons why people can’t save money because they need to pay it with interest which causes them completely run out of money.  

When it comes to debts, there are two types of debts the good debts and the bad debts. The good debts are the money borrow with the potential return such as investments and business. The other one is the bad debts which are the money you borrow to spend on your necessities, hospital bills, educational expenses, electricity expenses, etc. These are all part of your needs but unfortunately, it is bad debts because it does not give you anything back in return.  

Although it is not incurring bad debts but also when you incur debts with interest such as credit card debts and personal loans, they will charge you from 3% up to 20% interest per annum depending on the financial institution that you are involved with.   

Be consistent in paying off your debt and don’t accumulate debt with interest because once you start to accumulate debt with interest you can never pay off.  

Allocate your money  

This tip is the most basic tip that you should learn when you already receive your salary you need to immediately emphasize the particular amount where you can spend it which are your mortgage, rents, utility bills, insurance food, and living expenses. Allocating your money is really helpful because it will help you know if how much money left on you.   

The tendency of not allocating your money for its purpose or category is you will spend that money on things that you don’t basically need and for sure you can’t save any money.  

Put A Name on your Saving Goal Organizer  

This is one of the most important tips that you should learn, putting a name on your saving goal organizer is very helpful because every time you will see that organizer with the name of the person whom you are saving for will keep you away from using or spending it.   

Putting a name on your saving goal organizer will give you emotional attachment and inspire you to save more.  

Come to think of it, like if you are saving money for your kids’ education and future as a parent do you want to get your kids money? For sure you will not get any single cent on that saving.  

This tip will help you to prevent getting any money that you save for you and for your family.  

Save before Spending  

This is the best tip that you should know, saving is very hard especially if both of your salary and bills come at the same time. Although if you can already save money once you receive your salary you can save more.  

By doing this tip it will be a good idea if you have an open account to the bank which automates money transfer on your savings account. When you continuously do this method, it will become your habit and you won’t even aware that you are already saving money especially it automates on your account.   

Avoid Ads  

Another great tip is avoiding ads. Today, in this world you can see a lot of ads, whether you are inside your house or outside the house, online shops or stores, you can’t avoid those ads and see sale, buy one take one, bargains, or great deals. Probably, because of these sales and beautiful things we see on social media, we will be tempted to buy a lot of things we don’t need and we can’t save money.  

Make A Budget List  

This tip is one of the best tips that you should learn, making a budget list will help you stop buying those things that you don’t need and help you avoid overspending the money that you earn. By this tip, you can also avoid going repeatedly on the grocery because you forgot something to buy. The best thing about this tip is that you can save money on time.  

Do not Use Credit Card  

Another great tip does not use a credit card, the credit card is one of the reasons why many of us have debt because they have credit cards and they always use it for paying a lot of things.  

Basically, most of them depend on their credit cards when it comes to paying their bills why? Most people are naturally motivated in not losing things so when they use cash, they think that they already lose something while when they use their credit cards, they will think that they don’t lose anything because they don’t spend any single cents.   

Track Your Money  

This tip is one of the easiest tips that you should learn, tracking your money is a great way on how you will see if what was happening on your money, if where did you spend it and how did you spend it. A very practical way of finding if it usually goes on your savings or on your expenses. By this tip, you will be more conscious about spending your money.   

In order to do this, you just need to make a list and separate the expenses and the income and put the list of your expenses and your income. In tracking your money, you will know if how much money do you save every month and how much money do you spend on your expenses. If you already have that Track your money list it will already easy for you to save.   

Make your Savings Bigger Instead of Having a Bigger Expenses  

Another good tip that you must learn, making your savings bigger than having a bigger expense is a great way of how you can manage and save more money.  

By this method, if you are saving while earning more money and you avoid spending more expenses even you have a bigger salary will save you a lot of money.  

Keep in mind that the process will be useless if you make a mistake in spending money because even if you already have a bigger salary but you also have a bigger expense at the same time and your savings did not change, you will not save more money.  

How to Manage your Salary and Save


Managing and saving money at the same time is very difficult and challenging to do, most of us can’t avoid spending money on what we want because it makes us happy. After all, one of the biggest reasons why we spend money is to enjoy life. Although, sometimes we should always keep in mind that we should consolidate if what are the parts of your needs and wants. There’s nothing wrong with spending money and buying yourself a reward which fruit of your labor too because Sometimes you also have to enjoy life the way you want it. However, just make sure you are doing it within plans.   

It will be a rule of thumb up if you will have the idea of how you can manage your salary and save money in order to live the financial freedom or financial independence that you want in your retirement.  

Managing and saving money is an incredibly important skill that you should learn. Practice and challenge yourself on how you can manage your salary and save money.   

Therefore, I recommend you go through at least one or two of these tips that I mention above and see if it will work on you and hopefully will help you in achieving the financial independence that you want.