6 Useful Tips to Maximize a Small Salary – Part 2
On our last entry, we started taking a look at what people affected by low salaries could do in order to maximize them and, by doing so, they could also avoid applying for unnecessary personal loans that they will later have trouble to repay.
Now, let’s take a look at the last three tips that you can implement to maximize your salary.
4. Bring Your Own Lunch to Your Work:
One of the most though temptations of working at an office is definitely those office-cafeteria sandwiches, tarts and juices that, along with the daily specials can get extremely expensive if you start taking them every day. This is why, when it comes to food, your golden rule should be to always take home-prepared meals to work unless you want to be applying for personal loans to repay all your dinner debts. Not only you will save substantial amount of money with this approach, but you will also stay healthy, since it is proven that nothing can replace healthy, home-made meal.
Of course, you should always keep a few days to have dinner out with your co-workers, but make sure to keep them to a minimum.
5. Have Your Coffee Always at the Office:
If you are one of those people who just can’t live without coffee, then what better way to save than to have that steamy cup of coffee at the office instead of at home. Not only that, most offices not only have excellent coffee machines, they also provide their employees with tea, snacks and other perks, so make sure to take advantage of those.
Additionally, almost every office out there has also a microwave, which you can use to heat up your food and even prepare some quick-recipe snacks at work.
6. Use Your Credit and Debit Cards With Measure:
One of the things about earning a low salary that is really not nice is that even the smallest expenses, when accumulated, can total up to a significant portion of your salary. This is precisely the case of paying for your expenses with your credit card. Remember, every expense paid for with a credit card will have to be repaid back to the bank or lender of your personal loan eventually. In fact, it is highly advisable for you to stay away from credit cards and huge personal loans during the early years of work. Remaining out of debt will help you tremendously and will also keep your finances in control for a few years in the future.
If you want further proof of just how damaging misusing a credit card can be for someone who doesn’t earn much, all financial experts agree on that the biggest financial obstacle that that anyone earning a minimum-wage can face when staving to achieve a great life is to fall in credit card or personal loan debt. Of course, things are only made more complicated by banks and lenders virtually giving credit cards away, but you should learn to stay away from them.
And don’t forget, even if you feel like you are struggling with your current salary, always keep the bigger picture in mind. things will get better and soon you will be able to afford a personal loan or other perks you might want.