How to properly manage your wallet

The average Mexican worker spends their whole paycheck in 13 days, learn how to administrate better your money

We have all spent the whole paycheck in less than a week, so we think of different ways to prevent this of happening again. The cause is probably the lack of organization with your wallet.

According to a study by De la Riva Group the paycheck of a Mexican lasts for 13 days, and the rest of the time we are overwhelmed to survive until we get the next paycheck.

The truth is that, no matter how much you earn, if you don’t know how to manage your money properly, it will be gone in unnecessary purchases.

There are several methods to save and be able to continue spending without going broke for the week, here are three simple steps to spend your money wisely and reach 15 days with money in hand.

3- Save the highest percentage of your salary to pay the bills, gas or food.

Your priorities must go ahead of the rest of other expenses. Keep in mind that you must pay your bills first, before you want to buy something else. Separate your money into parts and so you will know how much you can have for other less important expenses.

2- Open-up a savings account.

We never know when we can have an emergency, for that we must have a savings account. The ideal is to have backup money that you can use if necessary, and keeping it in the bank is much safer to avoid expending it.

1- Separate a small amount of money for fun and amenities.

Spending a part of your salary on fun, such as going to the movies, fancy restaurants, clubs or doing one of your favorite hobbies does not have to stop happening, just do it once a week and manage your money so you can give yourself that luxury without feeling guilty and going broke for the rest of the week.


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