Courtesy: Pixabay
A mapping strategy for controlling money is an essential money protection method. The application of this method will help you not to fall into debt. 

However, this strategy is more effective than any other method for personal money. 

The outbreak of corona has not only reduced the rhythm of the daily life of the people. Rather, it has pushed the earnings of every human being towards an uncertain destination.

As a result, its repercussions are beginning to be felt in every country in the world. Every sector of the economy is devastated today.

If we ask you, are you worried about this? Not just you; Rather each person’s answer would be yes. However, here we will give you an idea about a balancing lifestyle that will take away your frustration.

Yes. You do not need to be an economist to apply the tricks we are talking about. Just read the tips and use them on your personal money.   

What is a mapping strategy for controlling money? 

By mapping, we mean budgeting of our monthly or weekly income and expenses. For example, your weekly earnings are £500 and you spend around £400 for everything. Now, what you have to do is make a map of expenditure as follows: 
1.     High-Level area (very necessary area)
2.     Medium level area (necessary)
3.     Low-level area (not so necessary) 

If we create a map of our weekly spending, we get three levels. such as High, Medium, and Low. Now, we have to make a list for each area and them as follows: 
  • High includes basic needs such as Basic needs are mainly food, clothing, medicine, shelter, and education.
  • Medium which is not basically basic but requires less than that.Travelling, Shopping.
  • Low-level which comprises recreations; entertainment, and unnecessary shopping, etc. 
If you would like to live a debt-free and controlled life, we would suggest you apply the strategies mentioned above.