How do you budget your money in a day

streazight

hero member

Activity: 910

Merit: 502

Quote from: dx_twisted on November 29, 2017, 03:57:03 AM

This is a very interesting topic, I will share my insights on this. Please look below regarding my allocation / budget of my salary from my work, kindly note that this is for monthly expenses only:

1. Food (20%) --- $200.00
2. Rent (10%) --- $100.00
3. Transpo (Gas) (10%) --- $100.00
4. Utilities (Electric, Water, Cable, Internet) (10%) --- $100.00
5. Clothing (10%) --- $200.00
6. Car Amort (30%) --- $300.00
7. Bank Account Savings (10%) --- $250.00
8. Local BTC Wallet Savings (10%) --- $250.00

Monthly Salary: $1,500.00 / month

I do live in the Philippines and the salary here is not that really well compared to other countries such as USA, Canada, Australia, UK or Middle East countries. But my monthly salary is being classified to a managerial position, and if you will convert it into Philippine Peso, this is enough to survive with the kind of lifestyle that I have. I'm not that social kind of person nor live in lavish, so I guess that really helps to allocate my salary very well. Also, as you can see, I have a savings to my local BTC wallet. I don't do trading, what matters me most is just hold the coins until I'm tired of saving (which I guess will never end though, Grin

).

Wow! What a nice budget except that you did not include miscellaneous. The truth is there are just some unforeseen things that could happen which one should always budget for so that you won't have to scatter your plans in the long run. These that you have listed are some necessary stuffs, and apparently you may not be the outgoing type not to have included some little cash for fun in it, but I like the savings distribution though.

Matteo.b

full member

Activity: 356

Merit: 100

For me budgeting a money in a day is so hard and difficult in spending it. A lot choosing how we spend in our daily lifetime we have ideally buy some useful for our family first, like basic needs food, things and our daily needs.

Lecam

sr. member

Activity: 700

Merit: 254

Quote from: jamzjosef on November 22, 2017, 05:25:22 PM

For me budgeting money in a day leads to your success in wealth. As a student I budget money in which atleast 50% of my allowance will be part of my savings. So you how do you budget your money? I wanna know your strategy.

The best way to save money is to take the money you only need for the day before leaving your house. That way, you will not be tempted to spend more money if ever you want to buy something or do something. I usually do this because if ever I go somewhere and I am aware that I have extra money, I keep on spending my money.

Sadlife

sr. member

Activity: 1400

Merit: 269

I dont really spend a lot cause i live with my parents so most of the cost is on them but sometimes i withdraw my money atleast $35-40 and give them half of it to help them the rest of my bitcoins is for my savings and as a long term investment. For the money that ive withdrawn i usually spent it on clothes, food and online games.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: MiningBattalion on November 30, 2017, 12:36:14 PM

Quote from: Destnhel on November 30, 2017, 12:04:10 PM

Well, when it comes on budgeting "oh its so hard" . as a mother like me i need to budget wisely for us to survive, i have my work with a minimum wage of salary but i have 2 years old son, were just renting our house so i need to keep the 50% for that. Other 50% for our foods things that we need. Thats why i want an extra income so i try this bitcoin.

Budgeting really may not be an a easy task but it is something that is extremely necessary as the help to cut unnecessary spend,also I save it for other day even month so that can't experience lack of money when there is a problem I have money expecialy for money to use emergency use only .

Always having a saving is really advisable because we wont know on the things that would possibly happen ahead which we would really need money and if we don't have savings then we would really have a bigger problem knowing that most things on this world do really need money for it to be fixed specially on health problems not only into those circumstances,savings do acts as a back up fund also if you do see some investment opportunities.

Cling18

full member

Activity: 1708

Merit: 126

Quote from: jamzjosef on November 22, 2017, 05:25:22 PM

For me budgeting money in a day leads to your success in wealth. As a student I budget money in which atleast 50% of my allowance will be part of my savings. So you how do you budget your money? I wanna know your strategy.

Proper money budgeting is necessary for us who saves money for our future. I spend my money wisely in a day for it will affect my budget for the whole week. First, I buy all the things that I need for a day and keep the rest of it for my savings. Even rich people also spend their money wisely for they know how hard it is to earn and save such amount.

MiningBattalion

full member

Activity: 333

Merit: 103

Quote from: Destnhel on November 30, 2017, 12:04:10 PM

Well, when it comes on budgeting "oh its so hard" . as a mother like me i need to budget wisely for us to survive, i have my work with a minimum wage of salary but i have 2 years old son, were just renting our house so i need to keep the 50% for that. Other 50% for our foods things that we need. Thats why i want an extra income so i try this bitcoin.

Budgeting really may not be an a easy task but it is something that is extremely necessary as the help to cut unnecessary spend,also I save it for other day even month so that can't experience lack of money when there is a problem I have money expecialy for money to use emergency use only .

Destnhel

newbie

Activity: 123

Merit: 0

Well, when it comes on budgeting "oh its so hard" . as a mother like me i need to budget wisely for us to survive, i have my work with a minimum wage of salary but i have 2 years old son, were just renting our house so i need to keep the 50% for that. Other 50% for our foods things that we need. Thats why i want an extra income so i try this bitcoin.

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: Bitcoinjheta on November 29, 2017, 02:41:00 AM

Quote from: Rylei on November 29, 2017, 02:19:20 AM

My mother gives me exact money everyday enough for me to go to school. So whatever amount left in my wallet, that would be my savings for that day. As college student, I learned to restrict myself from buying things that I really don't need even on buying food whenever I'm hungry. I keep telling myself that someday, I can reward myself. Budgeting is a matter of discipline and to what environment you've grown has something to do with it.

Budgeting is not an easy task and even experts gain headaches when it comes to financial allocations. I personally is not good at budgeting but I make it sure that I spend my to what is necessary. In a day for example, I allocate my money for my food, fuel and allowance for my kids. Sometimes you can experience budget constraints but it's a daily challenge I have to overcome.

Budgeting really may not be an easy task but it is something that is extremely necessary as they help to cut some unnecessary spending. Personally, I budget at the end of the month for the next month and that is what I follow for every day.

Once you understand all your needs, the daily ones which includes miscellaneous will be included coupled with all the other needs. Some can stay depending on their priority. This has helped me save a lot.

Jupeter

full member

Activity: 378

Merit: 100

Quote from: Weaklies on November 25, 2017, 12:54:05 PM

I have not started earning yet. once i have earn some bitcoin then i will think about what to do with my earn bitcoin.

Well me as a senior high school student i am budgeting my money very well because we are not rich and we need many money to survive in life and to survive on school and house expenses, so my 50% of my earnings is i am giving to my parents, so mu parents is the one to budget on our house expenses and dor weekly groceries and then 25% for my tuition fee and for my allowance and the other 25% is for my fiture purposes.

gabmen

hero member

Activity: 1246

Merit: 529

CryptoTalk.Org - Get Paid for every Post!

If its on a daily basis there's really not much to it. My expenses are planned weekly so i only shell out money if i want to buy something which doesn't really happen everyday.

dvillier

member

Activity: 238

Merit: 57

My system in planning my cash is by spending it admirably. I just purchase the things that I require not the things that I need albeit once in a while I get a few things I need yet not that an excessive number of or excessively costly. Likewise, figure out how to contribute to some securities exchange or to bitcoin for you to produce cash. It is a decent approach to contribute for your future life.

Creating N Action

full member

Activity: 266

Merit: 102

Every one has their own way of budgeting their own money in a day. For me, it defends on the people how much money they have in a day. I budget my money for the important things need. The largest part or maybe I can say 50 %percent of my own money from the bitcoin was for the food to be eated of my family for the whole day, the breakfast, the lunch, the dinner and the snacks as well. I have two sister and Both of my parents, in all we are five in our family that's why we need a greater amount of money to buy that food. The other 50 percent of my money is for my investment. Also I save it for the other day even months so that we can't experience lack of money or when there's a problem I have money to use for especially for emergencies.

Aljohn08

member

Activity: 84

Merit: 10

Quote from: Flowzer on November 22, 2017, 05:53:21 PM

doubling money needs special skills for you to get what you want. maybe by trying to trade or gambling. you can try it to earn more. trading just takes patience in investing wait time coin prices rise. so that gain gets increased. gambling is the fastest way to get bitcoin. but also the quickest way to get a loss.

but how it will increase if you have lack of knowledge ?? Trading and gambling is almost the same if you dont know how it works you definitely lose your money .. My advice is to hold your money in bitcoin .. Bitcoin will never stop doing well

david_019

member

Activity: 256

Merit: 10

As an eldest brother I'm the one who is taking care the budget. First I make sure that the fare of my brother and two sisters is Already secured, second is our budget for the whole week.

trako

hero member

Activity: 756

Merit: 505

I always split my money in two. 50% invest in cash or another 50% for needs or savings. always divide by. some mines are cheap. gold is the most used investment instrument in my country. I am investing myself every quarter taking a quarter of gold. a quarter of gold in my country for 60 dollars. If I need it, I do not break all of it, but a little small. so it does not affect the whole.

--DarkSecrets--

hero member

Activity: 854

Merit: 500

Stake & Vote or Become a IoTeX Delegate!

I budget my money a day by simply figuring out the expenses I'm expecting to make. I make sure that I allot at least 20% of my money for savings for future investments. Before I leave the house, I look food which I can bring instead of buying. I also do list the expenses I made to make sure nothing went to nothing and of course to evaluate if the what I spend are important or not.

hatemmkh

member

Activity: 104

Merit: 10

DIMPAY: Invest for Tomorrow. Today.

it's a fixed budget for my by ratios or in other words by percentages as follows:
20% savings
20% expenses
60% trading and investing

Taki

hero member

Activity: 1078

Merit: 514

I can admit that I still didn't learn how to manage my finances at least per week. Currently I spend money only for food, but it is totally not organized. Instead of visiting a super market once a week and to buy everything is necessary for cooking and daily life - I go shopping almost every day and instead of rational spending money I buy something, something I forget to buy, so I actually do not cut my costs, but just raise it, cause of gasoline also costs not little. I think with rational spending I could allow myself something more, but for now I can't.

dulce dd121990

full member

Activity: 294

Merit: 100

yes budgeting everyday plays an important part in our life for success. in my own, I budget my money evryday by spending my money in my daily needs only like eating cheap food not exceeding in my budget. I never spend for other purpoposes which is not included in my budget..that is how I budget everyday.

Topic: How do you budget your money in a day (Read 2102 times)