Is it time to take back control of your finances? Say no more! We are here to help you, because arranging finances can sometimes be quite exciting. Especially when you sometimes don’t dare to look at your own bank account. To start, it can be a good idea to ask yourself some questions about money. Not so much fun perhaps, but useful to create an overview and think about how you would like your finances to be.
Also read: Money stress: with these tips you can make it to the end of the month financially
Asking questions about money
Having money worries is something you want to get rid of as soon as possible. You want to live the life you have in mind, but often that doesn’t work because of your financial situation. To get it (back) on track, it’s smart to think about what you actually want. And of course, the best way to do that is by asking yourself certain questions about money. See it as a kind of journal hour where you write down the questions in a notebook or in the notes app on your phone, and then answer them.
What questions should you ask exactly? What will be most useful to you? We have compiled a list of questions (+ explanations) for you, so that you can start getting your finances in order today.
1. How much do I want to save per month?
How much do you actually save each month? Do you sometimes take something out of your piggy banks? In order to actually save an amount that you can ‘get rid of’, it is smart to think about what you want and what you can do. Maybe it is 10% of your income, maybe 15% or preferably 7%.
2. Can I increase my income? If so, how?
Some people are already happy with their income and don’t necessarily need more to live happily. If this is not the case for you, then you can look at ways to increase your income. Maybe with a side job? Or can you ask your boss for a raise?
3. Can I save and enjoy life at the same time?
There are different ways to save. Saving for ‘later’, in case of emergency and such, but you can also save to spend. In order to save and continue to do fun things, it is best to set up a pot with a budget for yourself. You transfer money to this to spend each month. Is there anything left at the end of the month? Then you can choose to transfer it to your ‘real’ savings account, or keep it as a gift for the following month.
4. Do I have a well-stocked pot on hand?
We just wrote about emergencies and money, but this is also important to ask yourself. Can I pay for things in an emergency? A broken down car, a washing machine that no longer works… How can you fill this pot?
5. Do I spend my money consciously?
Making impulsive purchases in life, well, it’s part of life. Sometimes. Not too often. If you want to get your finances back in order, it’s good to ask yourself where all your earned money actually goes. Are these things you really need? Or could you have left that one bag behind?
