Huegli

How does a typical income earner spend her monthly income? Here is a common faulty picture of how an employee budget her income:
Purchasing necessities and basic commodities. On top of the list are the basic commodities that you usually purchased at grocery stores or supermarkets such as but not limited to sugar, coffee, rice, fruits and veggies, bread and the like. These are the things you really need and allot budget for when you go to Waitrose or sainsburys to shop. If you want to save more money from your grocery purchases you may try to visit Superdrug online, items there are extremely low-priced.
Paying bills and fees. Electricity bills, telephone and water utility bills also made it to the list. Usually they come in monthly basis and are paid regularly to avoid service interruption. Tuition fees in schools are also part of this list.
Buying Wants. More often than not, income earners give more priority to buying their wants and not their needs. Luxurious items create liabilities when the money used to buy it was loaned. Robert Kiyosaki in his book “Poor Dad, Rich Dad” calls them doodads, items which do not bring wealth but debts and more debts.
Where is saving some money on the list? Apparently none.
A practical tip for one who aspires to get out of the rat race is to pay yourself first before anyone or anything else. After saving a certain percentage of your income, you may pay your debts gradually until you have fully covered all of them. The process might be slow but with some intelligent efforts, you will succeed to increase your asset to build business or invest.