Be wise – Spend wise

You and Your friend are withdrawing the same amount of salary and you are always running out of cash and borrowing money from your friend. Your friend is spending money wisely and you are not. Here are some tips to spend your money wisely.

The first and foremost is You have to differentiate your need, Want and Demand

Need- Needs are basic requirements to survive in the world.

Want - Want are a step ahead of needs which resembles choices, preferences, e.t.c.

Demand - Demand are to own a premium and luxury things.

The Best example of Need, Want and Demand is you have to call your friend then you require a mobile, the requirement of mobile is need. If you choose an Android, Windows or IOS operation system then it is your want and you have so many options but you choose Apple then it’s your demand.  

Plan your Budget including savings for future and strictly stick to the plan. Be wise and choose which best fits for you. Don’t run out of cash by satisfying your demands by now, you may face difficult to satisfy your needs in future.