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Home budget for the single

Being a single seems to be much simpler than having a group of children and a partner with whom we have to share the expenses. At the same time, living alone can be very expensive.
 

Why? More freedom, more frequent eating outside the home and, above all, no sense of responsibility for the other person. If you are a single person and are looking for a way to save money, start by preparing your home budget.

Permanent and occasional expenses
 

The first thing to take care of when preparing a home budget is the inventory of all expenditure. Make a list divided into two sections. One of them should include fixed expenses (rent, bills, credit installment), the other one should include purchases that you do occasionally (clothes, shoes, cosmetics, food).
 

Renting an independent apartment costs 1500-2000 EUR depending on the city. Unlike singles, people living in a relationship can share the fees for the apartment, which has a positive impact on their budget. If you live alone and want to reduce your monthly subsistence costs, consider renting a larger apartment and sharing it with your friends. Look at what you spend the most money on. Start cooking at home and replace your car with a bicycle. You'll quickly find out that your wallet can hold up to several hundred euros a month.

Control yourself
 

When you share an account with a partner, your financial decisions are regularly reviewed. You can't buy new clothes and shoes with impunity, go on expensive excursions and succumb to all weaknesses. In most unions, at least one person is very meticulous and reasonable in spending common money, which makes it much easier to save money. In such cases, singles have to count on each other. Even the best planned home budget will not be helpful if you don't show a little self-discipline. Try to do some thoughtful shopping and always take a list with you to the store. Choose products with a long shelf life and only as much as you can eat. Recalculate how much "small pleasures" cost you and try to give up at least some of them.

 

And what about borrowing?
 

Having a common account translates into better creditworthiness, all the more so when both people work and receive a fixed income. This does not mean, however, that singles cannot take advantage of the offer of banks and loan companies.
 

Individuals living alone, however, should make a good estimate of their financial capacity. One salary means that if you have difficulty paying your debt, you won't be able to count on the help of a partner.
 

In case of urgent expenses, consider taking a free moment so that you don't have to bear the costs of interest and additional fees.

Control yourself
 

When you share an account with a partner, your financial decisions are regularly reviewed. You can't buy new clothes and shoes with impunity, go on expensive excursions and succumb to all weaknesses. In most unions, at least one person is very meticulous and reasonable in spending common money, which makes it much easier to save money. In such cases, singles have to count on each other. Even the best planned home budget will not be helpful if you don't show a little self-discipline. Try to do some thoughtful shopping and always take a list with you to the store. Choose products with a long shelf life and only as much as you can eat. Recalculate how much "small pleasures" cost you and try to give up at least some of them.

And what about borrowing?
 

Having a common account translates into better creditworthiness, all the more so when both people work and receive a fixed income. This does not mean, however, that singles cannot take advantage of the offer of banks and loan companies.
 

Individuals living alone, however, should make a good estimate of their financial capacity. One salary means that if you have difficulty paying your debt, you won't be able to count on the help of a partner.
 

In case of urgent expenses, consider taking a free moment so that you don't have to bear the costs of interest and additional fees.

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