The former investor reports & corporate writer jots her experiments with money here on IX.

6 Steps To Manage Your Finances Like A Mojito!

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When life gives you lemons… we all know how that idiom ends! It’s true when you have to manage your finances in between jobs. Unless you’re employed with the government in this country, a doctor, lawyer or own a school, your income is not quite secured for life. Whether you’re sacked, asked to quit, or choose to stop working of your own volition, the sudden dam on the rivulet of your income can flood you with stress.

But cheer up! Some positive affirmations and a lot of planning done right can go a long way in helping you manage your finances. Why settle for lemonade when you can have a zingy deal?

Ever calculated how much you spend?

When the going’s good, no one cares. Suddenly though, a 40-buck ice cream can translate into a two-way bus commute home. To manage your finances, don’t just count the tens or hundreds of thousands, but also the small stuff.

Keep a financial journal to track your weekly and monthly expenditure.

In dire straits, cut the frivolties

If you note every spend to the last paisa, to manage your finances when laid off, review those monthly expense lists and eliminate the regrets. Live away from home? A quality monthly tiffin works out less expensive as opposed to having to spend big bucks and a lot of time on deciding what you’ll eat.

Swimming is cheaper than gymming. Morning movie shows don’t drain your pocket like concerts and plays do.

Avoid that LCD giant now!

No one buys a solitaire when a girlfriend’s broken his heart. Make food, shelter and health your top priorities. Shopping and entertainment don’t have to be packed away, but as they say, the best things in life are free!

Is there a short-term executive or skill-building course that could give you a career edge and better pay? Now’s the time to put your stash to hard work. They aren’t as expensive and getting a seat is relatively easier.

Baby Steps

Joblessness comes alongside a lot of time. You can either scamper and run from goal post to goal post for interviews. OR. To manage your finances and make the dent in your wallet less sharp, how about registering on sites like ELANCE and FIVR that enlist services from freelancers?

You can finally realise your dream of working in your PJs or out of a cafe at your own time and on your terms.

Reach out to your circle

Part time and freelance not your style? How about reaching out to people who you share inane quiz results with on social media? You have nothing to hide (from employers or friends or relatives)…

…since you’ve already left that grey space of offending employer sensibilities behind. Throw some grains into the cosmos and let the quick blooms surprise you. Just as you found a place to stay via your friends, you never know when a special role will be created just for you!

Call all your debtors

It’s time to toughen up your collections game. Check your Splitwise app. Recall all the people who borrowed money from you and all the times you were meant to go dutch, but paid for yourself as well as another or several other people.

Ask them to cough up the cash. You don’t even need to explain why. Most of the times, you don’t even have to deviate from politeness to manage your finances.

Now that you’ve hit rock bottom, there’s not much else to lose. If you’ve just begun earning, know you’re not fire-proof. If you’ve been in the system a few decades, know that “experience” can be your bane. Flick the dirt off your shoulders, chin up and manage your finances like a star!

Disclaimer: The views and opinions expressed in this article are for informational purposes only. The authors and publishers are not responsible or liable in any manner for any actions you might take relying on the contents of this article.


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