9 Tips for Men Against Dry Wallet at the End of the Month

In the midst of a life full of demands and needs, we often hear complaints from many people, especially men, about their wallets always being empty towards the end of the month. This problem is not only related to income, but also how to manage finances. For some people, managing finances can be a challenge in itself. However, with some strategies and the right mindset, we can become "anti-dry wallet men" who are able to manage finances well until the end of the month.

Understanding Expenses

The first step in avoiding an empty wallet at the end of the month is to understand our spending. Before creating a budget, it is important to record all daily expenses. Start by recording small expenses such as coffee at a cafe, lunch, or transportation. By realizing how much money we spend on small things, we can recognize spending patterns that we may not be aware of.

After recording for a month, review the expenses. Categorize the expenses into several parts: basic needs (such as food, transportation, and bills), routine expenses (such as installments, rent, and insurance), and Discretionary Expenses (entertainment, eating out, and shopping). This way, it will be easier for us to evaluate where we can save.

Creating a Budget

After understanding the expenses, the next step is to create a monthly budget. This budget serves as a guide to control expenses and ensure that we do not exceed the set limits. In creating a budget, it is better to use the 50/30/20 method, where 50% of income is used for basic needs, 30% for Discretionary Expenses, and 20% for savings or investments.

Be sure to write this budget down and stick it somewhere visible, like on your desk or on the refrigerator. Seeing your budget regularly will help you feel more motivated to stick to it.

Save Before Shopping

One of the secrets to being a man who is not an empty wallet is to get used to saving before shopping. Instead of using all the remaining money at the end of the month, try to set aside some money to save at the beginning of the month. This way, we already have an "emergency fund" that can be used for urgent needs without having to disrupt the monthly budget.

Many people find it difficult to save because of unexpected expenses. Therefore, it is important to set aside emergency funds that can be used in urgent situations. Make it a habit to save around 10% of your monthly income into a savings account before doing other shopping activities.

Reducing Discretionary Spending

Discretionary Spending is often the cause of an empty wallet at the end of the month. Eating out, entertainment, and shopping for unnecessary items can drain our wallets quickly. Therefore, there needs to be awareness to reduce spending in this section.

Try planning dinner at home instead of eating out. In addition to being more economical, cooking at home can also be a fun and healthy activity. For entertainment, look for cheaper alternatives, such as watching a movie at home or taking a walk in the park. By reducing Discretionary Spending, we can allocate more money for essential needs and savings.

Take Advantage of Discounts and Promos

One way to keep your wallet thick is to take advantage of discounts and promotions. When shopping, always find out if there are any promotions or discounts being offered. Many stores and e-commerce platforms often provide discounts, both for certain products and on special days.

However, remember to stick to your budget. Don't be tempted to buy something just because it's on sale, if it's not something you need. Being wise in shopping means you have to be able to distinguish between needs and wants.

Investing in Yourself

Investing doesn’t always mean saving in a bank or buying stocks. One form of investment that is often overlooked is investing in yourself. Taking courses or training to improve your skills can open up better job opportunities, which in turn can increase your income. By improving your skills, you have the opportunity to get a higher-paying job or move up in a company.

In addition, maintaining physical and mental health is also a long-term investment. Good health will reduce expenses for doctor's fees and medicines, and increase our productivity at work.

Using Financial Apps

In the digital era like today, there are many financial applications that can help us manage our budget and expenses. These applications can help record every expense, provide reminders to pay bills, and monitor savings balances. Some applications can also provide reports on our spending habits, so we can more easily identify areas that need improvement.

Using financial apps can make managing finances more fun and organized. We can see our financial progress in real-time and make wiser decisions.

Changing Mindset

One of the keys to becoming a man who is not a dry wallet is to change our mindset about money. Many people think that money is a source of happiness or social status. In fact, money should be seen as a tool to achieve life goals.

Start to focus more on long-term goals, such as owning a house, preparing a retirement fund, or building a business. In this way, we will be more motivated to manage our finances well, and avoid unnecessary expenses.

Involving Family and Friends

Managing your finances doesn’t have to be done alone. Involve family or friends in your financial planning. For example, make an agreement with your partner to support each other in achieving your financial goals. Or, invite friends to do more economical activities, such as having a picnic in the park instead of going to an expensive restaurant.

By supporting each other, we will feel more motivated to stick to the budget and avoid unnecessary expenses. In addition, sharing experiences and financial management tips with those closest to us can also provide new perspectives.

Conclusion

Becoming a man who is not an empty wallet at the end of the month is not impossible. By understanding spending, making a budget, saving before shopping, and reducing Discretionary Spending, we can become a man who is not an empty wallet and keep our finances healthy. In addition, taking advantage of discounts, investing in yourself, using financial applications, and changing your mindset are important steps in achieving financial freedom.

Don't forget to involve your family and friends in this journey. With the right support, we can live our lives more easily without worrying about an empty wallet at the end of the month. Always remember, good financial management is the key to a more peaceful and happy life. Let's start now and become a man who is anti-empty wallet and is able to manage finances wisely!