Cost of Living: Changes a lot over time
Every single person possesses a character trait that is not shared by anyone else. Do you agree?
The concept of lifestyle is related to a theory that each person has a unique style of living and seeing life from a different perspective. Having said this, what do you think makes a person decide on choosing his/her own lifestyle?
Some people care a lot about their physical appearance, and for them, money spent on appearance is a highly pleasant characteristic. Some people pay more attention to food, so they tend to spend more on food. And Few more people found who would love to explore the world. They really do enjoy travelling which makes them frequent travellers to spend more money on travel tickets, accommodations, etc.
Spending money, isn't it? We all require money to maintain a balance in life, to keep our loved ones happy and keep ourselves motivated. Cost of living is a perfect match between individual characteristics and the standard of living in a society. There is a certain amount of money needed for a person to run a certain standard of living according to his own character and perception. Cost of living has changed a lot over time and is more likely to make situational indication for different phases of life based on expenses.
This expenses are of two main types - fixed and flexible. Fixed expenses don't change over time but flexible expenses change according to season, place, health, age, etc. It's not how smart you are at spending; it is how smart you are at tracking your daily spend.
There are no rules to spend but there are rules for saving. We at NumReceipt set the rules right for you. We designed an Expense Manager app in order to keep a record of all your receipts & to track all your expense activities. Yes, you heard it right! We are the masters in calculating your cost of living.
For more useful information & tips on financial planning, read our blogs which would definitely help you or start using NumReceipt - Expense Manager App today.
Save First, Spend Next- Your First Step to Frugal Living