Few days ago, I had taught you the steps to manage salary when you did not start to manage the salary. But after learning to manage first time, you have to learn to manage your monthly salary. Only after this, you can save your salary better way.

Before teaching the steps, I am again referencing my same friend. He came again to me. He had given his side and told that he did different unwanted expenses under pressure. He paid donated under the pressure of father. He paid different gift under the pressure of other members of staff. I agreed that human being pays different expenses under the pressure because human being is very sensitive. I remembered, I had to take the  loan of Rs. 4000. Once, I went to a hospital where I had seen the death of a person who took the poison because he had no money to repay the loan. After coming from hospital, I called same person. I said, "You are free from my given loan of Rs. 4000 because I donated same amount to you. I did not want to see more death due to this. I think, my this decision was not good but still I was very affected from death seen in the hospital. Ok, now, we will learn, how can we manage our monthly salary.

1st Step : Know Different Types Monthly Needs

There are three types of need. One is basic which we have to fulfill at any cost. For example, we need food, milk and fruits. We have to pay at any cost. Second is for goal. Your goal may be getting higher education, getting a bike, a car, an own house, travelling on airplane, for future of children and business development. All the dreams and Goal are long term. Third and last is luxury. We want to get fun of life every time by spending money. We want to live AC room, big home and we also want to show the status that we are rich, millionaire or billionaire.

(A) Pay first your basic needs. Make the list of all your basic needs.

(C) Remember that we are human being. So, we can face the mis-happening. So,  save some amount for medical security of life.

(B) Make the List of all big goal of your life. Calculate its cost. Fix the time period which you have to achieve with your salary.

(C) Now, After two, you can use your salary only for fun.

2nd Step : Make Monthly Personal Budget

Monthly personal budget is made on the basis of different types of monthly needs. After knowing monthly need, you have to choose, how much you have to spend. For example, you can drink 1 Kg milk. You can also drink 2 Kg milk in a day. But, it is on you what your salary will allow. It is also on your personal desire whether you want to increase your weight or to decrease your weight. Open the excel. Try to change different figures and check the effect on salary. Like this, you can estimate of any type of expense.

3rd Step : Make Monthly Income and Expenditure Statement

Monthly Income and expenditure statement will be helpful for you  to see whether you way of spending is correct or not. Be faithful what you have make the personal budget. Following is the income and expenditure statement which we have made monthly basis.

4th Step : Changes in Decision for Paying Expenses

I am explaining with simple example

A. Mobile Expense

According to past, your per month, mobile expense is Rs. 500. With this, you can pay Rs. 6000 per year. But, you can easily take decision to decrease this expense by keeping mobile more time in busy or meeting mode. Try to reduce calls with friend. If you want to meet, meet them personally. Your money is spending. But, you have to decrease this expense slowly, otherwise, your friend will feel sad. I tried to reduce Rs. 100 from sixth month. With this, you can save your salary Rs. 2000.

B. Clothes Buying Expenses

According to your past experience, your per month clothes buying expense is Rs. 1000. Dear, there is limit of buying of clothes. Fashion is unlimited but your salary is limited. Why are you not understanding. You can increase your salary dramatically if you change your thinking. Why does you need clothes? Can you not live without clothes? Yes, it is needed for becoming human being. But you only need washed and pressed clothes not new clothes every month. Think like me. You have bought clothes for 5 months with paying Rs. 5000. Now, you have enough. Now, if you have not time due to service, go to washerman. Give him Rs. 200 every month. He will wash and press the clothes. Now, your old clothes will look like new clothes. But you will save Rs. 5600.

C. Marriage Expenses

Are you interested to help your friend or relative by giving big amount in his marriage? or Are you showing your high status by paying big amount in the marriage of your friend or relative? Both question, you have to think before deciding what is the best amount which you will give as marriage gift to your friend or relative? Suppose, your per month marriage expense is Rs. 1000. With this, you can pay Rs. 12000 per year. But, sit on the chair, if you want to help your friend or relative who is marrying. You can help him to settle his business. You can support his life partner for finding new service after marriage. For this, you can use your goodwill and reputation. All are free cost. I remembered, I went with my offline students whole day for finding their service. I used also my reputation for giving them work in the market. For this, I did not pay but with this my given time and reputation, I have made the career of my student. Like this, you can also make the differences. But you will save Rs. 6293 in a year. One more thing, I want to tell that there is not limit of showing your status. If you will go with Rs. 50,00,000's car in the marriage, you can see that other may bring Rs. 60,00,000's car. If you will go in the race of showing status, you will lose everything. Relax your mind. See, the inside body of all those who are showing status. All's mind are not in relax. Main thing is to control your mind.

D. Refreshment Expenses

Refreshment means to get new energy or new power. If you are thinking, you will get refreshment by drinking cold and soft drink, you are totally wrong. It is the waste of money. Just buy one or two Lemon from market and make the lemon juice by adding water and small salt. With this, your cost will be just Rs. 100 per month but you will get 200 times more energy and power. You will also happy when your saved annual salary will be Rs. 1750 which you have just saved by using best alternative of refreshment.

E. Donation expense

Suppose, you donate every month Rs. 1000 for getting peace and satisfaction of mind. You can reduce it up to Rs. 1 by following tips. You can easily save Rs. 6993.

a) What is donation? You should know. It is support to helpless. Instead of giving money, there are lots of other alternatives for giving donation. For example, your per month salary is Rs. 8000. It means, you earn Rs. 267 per day. It means, Rs. 33 per hour. Suppose, after coming from your service, you give 2 hours your physical time for helping helpless. This help may be teaching to orphan children. This help may be caring helpless and old patient. This help may be collecting donation for hungry people. This help may be finding new online sponsors for your free online schools. Your dedicated give two hours are the donation which we can easily convert in amount according to your salary rate. Two hour daily given time means, Rs. 1980 donation.

b) You may have different skills for example, you are expert in accounting or audit. You can maintain the accounts of not-for profit organization. You can also give free audit service to not for profit organization. If any one wants to free service of Audit the Accounts of our not-for profit organization, he or she can contact us at out telephone no. 01762-500250 (India), +91-1762-500250 (Outside India). Your given free every service is also your donation.
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