Keep Money For Fixed Expenses Separate

Queries Krishiv Thakur, Pune How should I go about making a monthly budget so that my salary lasts for the whole month? I often find myself struggling in the last week of the month and want to figure this out. Proper planning and setting up a budget can help you. First, make a note of all your fixed and unavoidable monthly expenses such as groceries, rent, EMIs, utilities, phone, Internet, personal grooming and credit card payments. Then, list down how much you spend on clothing, eating out, entertainment, and so on. Once you have the list of your expenses, add up the total and look for the areas where you can cut back on spending if you need to. Once you have a tentative idea of all your fixed monthly expenses, transfer the same amount or a little extra to a separate bank account and use that account only for your expenses. This will help you meet your fixed expenses. Also, avoid...