Bundles of money [Photo/ businesstoday.co.ke]
There is nothing as hard as balancing between your salary and your expenditures.
Many people depend on their salary for all their living, which makes it hard for them to grow rich. Here are ways you can use your little salary to be rich:
Save
Saving is a way of paying yourself.
Saving accumulates with time and you can use this to do something big.
You can start a business with saving from your salary which will make you rich with time.
Essentials first
You should have priorities on how you spend your money.
You should always consider essentials first.
Make a long-term budget that will help you even save some of your money.
Manage your loan repayments
Loans hinder most people from getting rich.
If you are servicing a loan, you can also manage it by putting any extra money you receive into paying back the loan.
Paying your loan within the shortest time possible will reduce the interest rate you will have to pay, hence saving on your money.
Get insurance covers
Insurance covers prove helpful in times of need.
For instance, when you get a medical cover, it will help you save your money when sick.
Insurance covers are paid monthly but helpful when in need.