How do you Manage your Budget? - page 2.

marina_miru_mir_1

newbie

Activity: 15

Merit: 0

Quote from: Onecrypto18 on June 27, 2018, 07:11:07 AM

A lot of families have always have the challenge of managing their budgets especially on pay day. Most families exhaust their monthly earnings just midway into their pay day, while they struggle for the remaining half of the month.

My question to you is this: How do you manage your budget in order to save for the rainy days?

I think it's not about saving, but about stopping spending money on unnecessary things, which in a short time will fly into the trash, in general this is a big topic and it's easiest to start studying it with a minimalist theme.

Jimitieu

member

Activity: 141

Merit: 10

use a ledger or an app on your phone to manage your expense on everything you've bought. Sometimes you bought something and think it's not matter, guess again because it does matter when you bump into something like that over again, it might be a huge amount of money you spend and when you in need of it, you will wonder where it have gone.

Bhe

newbie

Activity: 380

Merit: 0

I record my expenses..Once i have my data, i organize the numbers by categories, such as gas, groceries and mortgage, and total each amount.

Sandra_Skelley

newbie

Activity: 16

Merit: 0

We ask this kind of question because we do not tell the truth to ourselves. How can you save in you earn nothing? People keep managing their budget for nothing. The result is always negative. They work all their life for nothing. The educational system is wrong. We should teach people how to earn more. At schools, teachers must teach how to invest and make big money. Instead, they teach theories and stories. With this actual system, people cannot be rich. The system is done to keep us poor. For that reason we keep managing our budget. We just need to earn more. The more you earn, the better life is.

barrett_fire

newbie

Activity: 21

Merit: 0

The most important principle in budgeting is to spend less than you earn. If that's a problem for you, but maybe want to consider looking at the same idea from another perspective. Earn more than you spend. How to keep track of everything is the question. For some people, it may seem extreme, but I keep a detailed record of every penny I spend and every penny I earn. I made a convenient spreadsheet in Google Sheets where I write down every expense I make and every time I earn something. All of my expenses are categorized. I can can easily see where my money is going and how much more I am earning than I am spending. I love it. It may seem intimidating at first, but, once you get in the habit, it doesn't take much time at all.

Serco

sr. member

Activity: 1050

Merit: 250

Make a financial note every month. Do not expect you to make perfect financial planning in just one try. The best way to see where your money goes is by constantly paying attention to your expenses, and recapitulate them at least once a month. Generally, your revenue is unchanged, so you only need to adjust your spend if you feel that your revenue is still low.

Calculate the remaining money you have after deducting fixed and required expenses. If you only spend money on fixed and required expenses, how much money you have left and you should be able to figure it out. Take into account fixed income, then reduce it by the amount of fixed and mandatory expenditure to see the rest of your money each month. You must know the rest of the money to manage the money well because of the rest of the money in your pocket money for fun.

eann014

hero member

Activity: 1078

Merit: 501

Quote from: Onecrypto18 on June 27, 2018, 07:11:07 AM

A lot of families have always have the challenge of managing their budgets especially on pay day. Most families exhaust their monthly earnings just midway into their pay day, while they struggle for the remaining half of the month.

My question to you is this: How do you manage your budget in order to save for the rainy days?

It is really hard to manage our budget especially if we don't have enough budget to manage at all. My partner in life has a good job and I don't have a job at all, right now I am trying to earn bitcoin but as we look at bitcoin price right now, it is also struggling at this point. I know that we need to find another extra income for us to survive but if our budget is not enough at the whole month then that is the time we need to borrow some money with our relatives or to the people who care for us. Embarrassed

It is also sad that we need to do that but that is also the right thing to do.

KASUD36

newbie

Activity: 31

Merit: 0

I plan my budget according to my income and reduce all unnecessary expenses which will exceed my income

AMLMPS

newbie

Activity: 26

Merit: 2

The best way to manage your budget is to live within your means first. Then look for ways to increase your income if your current salary or income is not enough or you wanted more financial freedom. Doing work here in bitcointalk will help.

B1tUnl0ck3r

sr. member

Activity: 854

Merit: 277

liife threw a tempest at you? be a coconut !

Quote from: Onecrypto18 on June 27, 2018, 07:11:07 AM

A lot of families have always have the challenge of managing their budgets especially on pay day. Most families exhaust their monthly earnings just midway into their pay day, while they struggle for the remaining half of the month.

My question to you is this: How do you manage your budget in order to save for the rainy days?

learn about Cost of Living, emergency fund, tracking of all expanses and income and don't forget it is super easy : Income>expanse = winning and income

Starfranko

jr. member

Activity: 672

Merit: 1

To me the best way to manage my budget is to spend on necessities alone and also plan what to spend on

Fayefot

member

Activity: 128

Merit: 10

When it comes to budgetting I usually make a list of each week expenses. Then just put in a certain amount that i need to spend the whole week. I dont really buy things that are nit in my list. 50% for savings and the resy is for bills and foods and others.

GG_nick

newbie

Activity: 70

Merit: 0

A good trick would be to have a log book where you put all your expenses for the day/week/month (depends on your preference) so you can easily track your expenses. Another trick would be to set aside a certain part of your salary as your monthly savings. Then for what you have left, that's what you use for your daily expenses and make that amount fit until you get your next paycheck.

alyssaxx

newbie

Activity: 193

Merit: 0

Savings first before expenses, that's i do after receiving my salary. I always put budget first to my needs rather than to my wants. At the end of the month if i still have left money that's the time i buy my wants, if sometimes i didn't use that i put it in my savings and in my emergency fund

inesterdd

member

Activity: 292

Merit: 11

I draw a table in the notebook for each month. I divide all expenses into categories, such as food, transport, sweets, household, entertainment ... and so on - and for each fixed a constant amount that I spend for a month.

letstalkbitcoin2

newbie

Activity: 38

Merit: 0

in order to have a proper budget management, i set out a well detailed scale of preference in order of need, i think the reason people have budget management issues is not because they have a low income, human wants are alway insatiable, the more income you receive the more responsibilities knocks on your door, the reason is that people dont know how to differentiate between their need and want, they tends to give more priority to their wants rather than their need. My scale of prefer detailed my needs in order of importance and if there is left over then it extends to my wants.

Impulseboy

jr. member

Activity: 196

Merit: 4

I always make sure to keep 50% of my paycheck as much and as often as I can. The others go to rent and bills, groceries and leisure. It can be challenging but somehow I manage.

IndigoRed

jr. member

Activity: 196

Merit: 1

There are apps available you can you to help you manage your money (ex. PocketGuard, Wally). They're really useful. And most of them are free! It's like having a pocket sized financial planner. Taking advantage of technology is a good thing.

Instaco

newbie

Activity: 19

Merit: 0

Spend what you can spend, and look for more opportunities to make profit.

Managing your budget for me is all about increasing your spending power together with increasing your streams of income.

When I don't earn much, i reduce my budget to a level that will enable me to sustain my needs for daily living.

criza

full member

Activity: 574

Merit: 108

Budget management is quite essential in our economic life. But as much as we know the importance of saving, the less we do the act pf saving. I know that it is difficult to save, but I believe that it is more difficult to have nothing to left in case of an emergency or when rainy days came in to our lives. Here are some of my tips on how to manage our budget. First, prioritize saving rather than expenses. Income must be subtracted to savings then the difference will be your expense rather than the opposite. Second, learn how to distinguish what is a need and a want; always put first what is your need. Lastly, commit yourself in saving for you to be able to become consistent in saving. Besides, saving is about consistency. And consistency is the key for a good budget management.

Topic: How do you Manage your Budget? - page 2. (Read 384 times)