Salary cuts can be caused by many things according to company rules. Whether because of not entering work without notice, arriving late to the office, or as a result of the company's deteriorating finances.
Salary cuts are painful. Because, that means your income is reduced, while the expenditure must still be financed in full.
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| 5 Tips for Living Comfortably despite a Salary Cut |
In a situation like this, you need a smart way to get around finances to keep your life safe and comfortable. Here are the tips:
1. Make a list of spending priorities
Once the company's salary is cut, immediately arrange the latest list of expenses adjusted for income. That means you have to prioritize basic needs over wants.
These basic needs include, eating and drinking, washing and bathing equipment, transportation costs, paying monthly bills, paying debt installments, giving parents monthly money, as well as children's education and snack money.
Delay shopping that is desired, such as buying new clothes and shoes, changing gadgets, vacationing abroad. For entertainment, it should still be limited. For example, in a month, only once to watch a movie.
You still live a good life even if the salary is cut, and without sacrificing the main needs, namely daily costs.
2. Keep the allocation of emergency funds, savings or investments
Living well even if the salary is cut does not mean just thinking about today, but also in the future. Although income is reduced, you still have to set aside money for emergency fund purposes, as well as savings or investments.
Emergency funds are collected to deal with emergency or urgent conditions. Just in case the pay cut lasts longer or even gets laid off.
While savings or investments are allocated for future preparation. Even if you have to delay the desire, but the most important thing is to be able to live well in old age because you have a stable financial from saving or investment habits.
3. Do fun activities at home
A good life isn't always synonymous with going out to eat at a restaurant, going to a branded clothing mall, a regular vacation out of town or abroad. Even at home you can still live a good life.
One way to do fun activities that become your hobby, such as cooking your favorite food, watching movies or Korean dramas, reading books, gardening, singing, and so on.
Not too often out of the house actually avoid unplanned expenses. Secure the contents of the wallet to make enough until the end of the month.
4. Side work or side business
If you want to be able to meet the needs as well as wants when the salary is cut, of course, you must be able to increase income. You need to make extra money by working side by side.
Working side by side such as being a part-time worker or freelancer, creating vlogs or content that is able to bring in the coffers of money. Find a side job that suits your passion and time.
Take advantage of time after work or holidays to do side work. You can also side businesses, such as selling online or renting a car or motorcycle to earn passive income.
This is called work for you. Even while sleeping, money goes into the pockets. That way, you can live a good life without the need to cut excessive spending.
5. Shopping for cheap, but quality goods
Salary cut but still want to spend? It's okay, as long as you use clever tricks. You can shop for cheap goods, but still quality and do not eliminate its function.
For example, shopping for used goods, KW goods, or the same item, but different brands that cost less. For example, used soy sauce A, switch to soy sauce B which is cheaper.
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