Topic: Trusting your budget in times like this. (Read 1556 times)

One of the factors too about condition of such country when it comes into that pertains about price of goods and services on which it will really be that making things being a burden by into its citizens.
If it turned out that this do becomes even more worst as time passes by because of that shit governance then it will really be that a hard thing for its citizens to make up such progress into their lives but
instead it will really be that becoming even more difficult for a certain individual on such having that progress and you cant be able to make out some direct conclusions that people are really just that lazy.
Come to think that opportunities doesnt really come often and there are factors on which it could affect out in overall.

If you do find yourself really just that making money which is really that sufficient on day to day survival then it will really be just that normal that you do need up to make out some budget
on which it could really be able to last up until the next paycheck. This is the sad reality that we are really that facing because if you wont really be that good when it comes on handling such tough
situation then you cant be able to survive or go further ahead.

The reason why some people find it difficult to keep their Budget is because of the condition of their country and how the price of goods in the country, you can not Budget when you are hungry, you must be satisfied with what you have before planning to Budget, there are some countries where people earn good money that they can save but the condition of the country will not allow them to think of saving money.

Before thinking of Budget you have to think of how your situation is and if you can live a normal life even when you are saving money, people who can enjoy Budgeting are people who have many sources of income if not no matter how you plan to make a Budget you must touch it, it's not by having mind you can Budget is by having a good source of income.

The direction you said is a very wise direction and also quite reasonable to be done by people who have a regular salary every month. Because they can immediately choose and see valuable assets that they can take as their future investment because if they only depend on one source such as a monthly salary, it will not provide such a big change in our own lives. So the direction of investment is what needs to be seen in detail so as not to be wrong in placing the money that has been set aside from the results of their own monthly salary.

Indeed, one doesn't need multiple sources of income for budgeting, but it's necessary to have multiple sources if you have a single income and it isn't enough for all your expenses because, in such a case, making a budget won't be possible. How can you put everything in the budget when you know the expenses are higher than your income in the first place? So, multiple sources of income help you manage things properly because then you will have more money to spend, and your expenses can fit in the budget you want to make.


That's one of the biggest problems we are facing in modern times. People earn an average income, and then have to deal with inflation which makes them have financial problems because you might be able to manage everything with what you are earning if there is no high inflation but when things start to have higher values while you are still earning the same amount of money, you will have problems.

You have raised important points. But it is not necessary to have multiple sources for budgeting. Many people can earn a lot from one source.
However, I think that making a specific budget every month will help to avoid unnecessary expenses.

But if the government cannot control the market, then even making a budget every month will not benefit the common man. Because if the price of goods increases or decreases, the amount of expenditure will also increase.

this topic is one of the relevant topics I've seen recently in this particular trend because I know quite well that majority of persons that suffered a lot is because of lack of management because if you don't manage very well I don't think that you will be able to actualize any good thing so over spending and causes a poverty and it will make you not to have a saves, so I believe that we need to understand go through this thread so that we will know how to spend our moneys.

$70k was still quite high to be honest but those who have accumulated on that point really took the risk. And so, they're already on their rewards but that's not yet for them to take out their profits. I think that it's still early for them unless they are desperate to just get away with the profit and take it. And those that have bought and held for so long in the past lower than $70k, they have no doubt that they can take it now. But hey, this isn't about the taking profits but the worth of the money that they have now through Bitcoin. With all of these ATHs coming to the market and looks that it's not going to stop anytime soon, there's more to come and one has to be diligent with their decision and be wise but as for me, I'll continue to hold.

For those who do have held up their positions strong then they are definitely making up some bucks now but this is only into those people who do able to accumulate and take risks when the price is still $70k on which it cant really be avoided not to think that there might be corrections as we do go ahead or hover around into its all time high. There's always that kind of hesitation that we might be seeing some correction on which it could really be something nasty but there are those individuals who will really be that taking up some risks on trying out to place and accumulate. So profitability will really be just that a matter on how you will really be able to make out some investment decisions on which you do know that this could really be giving out that kind of advantage on which it will really be helpful for you to make up some profits.

As for profitability then this will really be that matter on how you will really be making out some budget or would really be trying out to make allocations and savings on which you would really be able to find yourself
being sustainable on the time that there's something problem in terms of economic impacts or simply with emergency situations. Nothing beats out into those individuals who are financially prepared and to those
individuals who dont have some budget allocation with these kind of times or moments. So it will really be that up to you into this aspect.

I think this topic is very timely. With the bull run and Bitcoin staying at $91k, the majority of the holders that have held BTC up til' now are in profits. So, be wise in taking your profits and your budgeting. Because for sure there goes the folks that want to enjoy their profits. There is nothing wrong with that as everyone who held for so long and took risks deserves that. And with the current state of the economy, you better be wise and productive with the money that's already on you from the profit that you'll take or have taken from this bull run. Re-invest the bigger part in there but don't forget to entertain and treat yourself by doing so but need to be careful with spending habits that might trick your emotions into saying that you can do everything with that money you have now.

Even if you have one source of income, always, if it is, for example, a salary, as soon as you receive it, set aside even a large amount, but steadily, every month and then find something to reinvest this money in.

Back to the meaning of control and being able to manage finances better based on the needs to be purchased, without having such management it will be difficult to control yourself so as not to spend something that is not needed to be purchased. Avoid an excessive lifestyle and do not need to pursue life trends like most people live because avoiding unnecessary waste of money will make our lives better.

What goods do you mean because not all goods have to be bought and not all goods are necessities. Except when talking about fulfilling food because that is a need that may need to be met according to the budget we have. Food needs often rise uncontrollably, especially if there is a recession and it is caused by scarcity and must be exported from abroad.

If you want to be more economical, then buy raw materials and cook at home so that we can be much more economical. No need to pursue a lifestyle and eat in luxurious places like restaurants because what we need to think about is how to maximize the existing budget to meet the needs of life to be better.

One major enemy of accurate budgeting that I've seen as a person is lack of proper breakdown while budgeting. When you budget for certain needs, you need to break the budget down to all concerns that make up that need and various factors that would be included in achieving it, be detailed leaving no stone unturned and you'll see the loophole that would've rendered the budget inefficient, then you can choose to increase your budget or cut down the concerns of meeting such needs.

Secondly you need to include tolerance while making a budget, don't be exact because there's some aspect you cannot see clearly until you've started spending, so if after breakdown your budget for a particular need is $300, it's better to apportion $350 to it in order to service miscellaneous.

Finally, be sure to budget on needs first before flexing or frivolities and not vice versa so you can accurately and easily cut down on frivolities without much problem rather than cutting down on your needs.

Also remember to reserve some funds for emergency and always increase your emergency funding across intervals and reserve them strictly for emergencies because they always come.

You have made a reasonable point, when the economic situation becomes tight, the most important thing is to choose the sectors of emergency expenditure and stop the hobby expenditure. We often say or many people suggest in the midst of economic hardship that we should enrich the sectors of income or increase the potential sectors of income. But in reality, no matter our economic situation, we all try our best to earn the highest income. So in this case your argument is very effective we should choose the emergency sectors and manage the expenditure accordingly.

Well, don't believe it, in the country where I have lived since I was born it is like that, you have to do many activities to earn good money, work hard to be able to have a high income and be able to cover basic needs, if there is a good level of professionalism , you can have more advantage over others , it helps, but honestly the jobs that are more basic, the sales of certain things, the people who do them earn much more than being in a Company where you have to meet Schedules and Certain goals that sometimes are not so simple, and all to fight against inflation, it is really hard.

Period like this,what is needed is to have more than one source of income to enable you achieve whatever you have written down on your budget. Or set up a business which too can help you to be stable and achieve what you have earmarked to accomplish.

The influence of inflation at this time is indeed undeniable so that everyone must have more than one income in their lives so that unexpected things can also be overcome so well without any significant obstacles. Now business people also continue to move to open more branches in order to get more income because they also understand very well that more than one income will help them in anything rather than just relying on income from one direction which may not be able to cover all the needs they want in their lives.

The first thing you should consider is your income and household expenses because this is the big thing. If it is not addressed, it will go out of your budget, and it is difficult to control. In today era these two things are given more priority and it should be so because if this thing is not fulfill in your own home how will you do other things. If you do two or two businesses and work then you can use it in your own way. You can spend so much that you can use it if you need money in hard times.

You're right  sometimes when you plan your budgets there will always be an unforseen circumstances that will make you to go above your expected budgets and that way you have spent above your expectations and like you said inflation has affected alot of things and thus is why multiple income are advise so it can really cover up for some wants and needs inorder to meet up with your budgets.

Let me avoid sounding like a motivational speaker right now who would tell you that you can still save no matter what you have. My brother, all you need is a better income, or else, that is how you will always find it difficult to have a financial plan, not to mention a budget.

Things are hard in some countries right now, my country is a typical example, so I know the pain. If you go to the market today to buy a good that worths $10, I can assure you that you may see it at around $12-$13 in the next 1-2 weeks, how is someone planning on that? It is not feasible. Just try to increase your means of income to tackle your financial needs and that will probably encourage savings.

Inflaiton is inevitable and this is something that we must prepare ourselves in the moment or time that we do need up to do more hard work and wise decisions so that we would really be able to survive.
There are times or moments that we will really be having those kind of confidence into someone that they are really that able to survive without any hardship but on the moment that they've been able to
encounter those things then this is where they do make out some actions. It will really be that a very common human behavior on such as this because they are really just that trying out to make actions
on the moment that they do really have that kind of difficulties or challenges that they might be able to encounter ahead. Management when it comes to budgeting will really be that tough specially on living in a world
on where everything is really that increasing in terms of price and if your job salary isnt really that increasing as well  then it will really be that resulting into such overdropped on which this is something
that not really good. Proper budget and buying up important things or priorities is something that will be recommended and not really that focusing on buying some liabilities because this is where
people usually prison themselves with lifetime debt.