Work hard, play harder. There’s no greater feeling than financial freedom and being able to do whatever you want with your money. With a little careful planning and groundwork, even the most carefree bachelors will have no trouble managing their money.

Pay Your Debts

Any debt hanging over your head can become a problem faster than you think it might. Whether it is a few notes to your friends after a night out or something more serious like a car payment, you should always pay your debts.

Businesses use services like Lending Express to find themselves the best loan deals out there and the best repayment schemes to keep themselves in the black. If you need to take a day to work out where you owe money and how to pay it back, do it. It will only benefit you in the long term.

Use the 50/30/20 Budgeting Rule

This is one of the best budgeting rules out there. It breaks down your monthly income into three easy categories. 50% of your monthly income should go on necessities. This means rent or mortgage payments, food bills, utilities and insurance, and anything else that goes towards maintaining your life.

30% of your bill then goes to the extras we all like to indulge in. This can be shopping for new clothes, hobbies, or socialising with your friends. Anything you do which is considered a luxury or not a necessity to your life should be included in this bracket.

The final 20% should go entirely into savings. You can split it between an emergency fund and a separate fun savings if you wish to further distinguish between them.

Don’t Touch Those Savings

When the 30% part of your budget is running low, it can be really tempting to dip into those savings for a little something. You need to be strict with yourself. Those savings are for an emergency or for something in the future.

Setting a goal is a great way to overcome this. Your dream car or a trip of a lifetime away to exciting destinations are all brilliant things to save for. Remember that every time you dip into the savings, you are putting yourself one step away from this goal. To keep yourself on track, reward yourself with small splurges from your 30% for every saving milestone.

Skip the Credit Card

If you are not the most careful with money, a credit card is bad news. Without self-restraint, you can quickly rack up thousands of dollars’ worth of debt. It is sometimes easier to budget your lifestyle if you do not have the apparent escape a credit card offers.

Stick to a debit card and cash and you will have a much better control of your finances.

Final Thoughts

Even the most laidback of guys have the capacity to take control of their finances. Some quick work to write a budget can help you out massively. Plan some goal like a holiday and don’t forget to reward yourself every time you hit a savings milestone.

Your financial happiness is entirely in your hands.