https://kwachalelo.com/when-can-you-dip-into-an-emergency-fund/

Your Money is not being Handled Well If

  1. Every month is a financial haze

You are several years into your job or business and the money is coming in like clockwork but, you always seem to be in a financial maze. Nothing is making sense.

Nothing will make sense financially if you do not look at your daily money habits. What realistic or unrealistic choices have you made with your money? Are you spending money just because so and so has brought in a pair of shoes that you have always wanted to own or there is a suit sale at your regular suit supplier?

Whether or not your work demands that you dress the part (successful and smart) your pocket demands that you plan for the expenditure.

  1. You pay the bills under duress or are always late

You are usually playing ‘hide and seek’ with someone you owe money to and are always receiving phone calls and reminder texts about one bill or the other. If you do pay, it is late and in some circumstances this comes with penalties.

Have a plan for your money and simple as it is, a budget is a tool that will help you see what your current situation is. It will show you where you are spending too much or too little and will show you if you are spending more money than you can afford.

  1. You are always crunching numbers

Forget the imaginary numbers and look at the actual income you get (look at your pay slip), the amount you have saved up (look at your bank statement) and the money you have spent so far (the slips from the shops you went to) and the debts you owe (look at the demand notices or the sms’).

Are you spending less than your income? Are you spending more than you earn? Your finances every single month can only be dealt with if you gather all the details together and compare the numbers coming in and going out.

Kwachalelo

A Zambian site sharing quick read articles around work, money and adulting life with selective interviews and quotes.
The founder, editor and lead writer who left university with a good grasp of public administration, economics, money, banking and international relations is also qualified in journalism and creative writing. She has been published in Drum and The BBC Focus on Africa Magazine and has been featured in several local and international publications.
An avid bird watcher with an extraordinary fondness for chikanda ( a Zambian delicatessen that vegans and non-vegans world-wide are putting on their bucket list ) she often tweets in poetry and short prose @kwachalelo