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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?

To manage your budget efficiently, considering a lot of thing should be seen. First is that we could first deduct the savings amount for this is the most convenient way on budgeting while saving. After that, next thing to consider is all the bills needed to be paid. Priority those who is near the due date. All the expenses can be eventually be budgeted after paying necessary bills. The key in budgeting income is to follow the simple equation which is Income -Savings= Expenses. Through this you might achieved an efficient budgeting scheme while saving enough money.

It depends on how you need to use daily cash, you should be able to make a schedule for your expenses. Because I am not married then I just buy my personal needs and eat with my girlfriend, every month I always set aside my money to save and I set aside my money for investment to use when I'm in need of money. I think you should be able to save money for the future such as investment and insurance, if you need goods or other things you should think first before buying, whether you buy is needed or not.

An excel spreadsheet is the easiest way, although there are plenty of (free) online budgeting tools. Simple format, just fill in your earnings, then all your outgoings (including savings, investments etc.), and that will give you a balance. Best way is to draw up a yearly plan, then you can include the 'once a year' payments as well to plan ahead. Don't make the mistake of not including your savings in outgoings, you never know when you might need an emergency stash, and just saving 'the leftovers' is not a plan. I made my own (very basic), but just google 'free budget planner' and you'll get plenty of options.

I receive my payday twice a month, so what I do is divide my salary according to my expenses to keep track of my budget and I dont usually buy things that are not needed so that I wont go beyond my budget. I also make sure to save 10% from my salary for emergency purposes.

Get all the list of your expense then give a break down on each of those in percentage. If you know how to compute in percentage, budgeting is super easy but math is complicated ;D That strategy always works for me and save my butt in time of poverty when pay day is a long way ahead.

Listing your expenses will help to budget your money for the upcoming days.

You have to be patient of writing down and cutting down your expenses. Don't buy the things that you want and buy only the things that you need.

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.

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.

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. :)

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.

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.

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.

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

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.

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.

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

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<expanse = losing.

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.

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

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

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.

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.

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.

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.

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.

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.

Im a office boy i can manage may budget maybe 800 pesos a week because i always bought in supermarket can goods and noodles but i didnt eat this everyday.. i eat that every another day.  Come on you may try that maybe u can budget your own in 600. I didnt drink alcohol in critical week before salary.. hehe

I manage the budget by prioritizing by critical and non-critical things.
Critical things are rent/mortgage, food, car and car insurance, utilities (water, gas, electric), at least one cell phone, and internet because I work from home.
Food shopping and mortgage are probably the biggest bills I have. I'm pretty frugal with food shopping, try to buy in bulk, and portion out meat by serving or meal before it goes in the freezer.
Instead of paying hundreds of dollars on a fancy cellphone & contract, I use a tracfone. Spent $20 on a dumb phone and maybe spend on average less than $15/month on service. I use an old iPhone for apps on wifi. Quit cable and get Netflix or Amazon Prime subscription.
Don't go out to eat. Cook from scratch. Stop buying coffee from DD.
Dive into thrift shops for "new" clothes or miscellaneous things around the house.
Going from "abundance living" to frugal living takes some adjustment. You'd be surprised how much you can save.

Managing budget is quite a difficult task but with proper planning one can scale through without running into lack
First you draft out a scale of preference then you spend having in mind that day to day expense will be made... With this should not run broke

It's quite easy to save money if you didn't buy all the ridiculous consumer items that most people buy.  Most stuff people buy is not needed and overpriced.  People pay 200 dollars for a pair of shoes because it has a jordan logo on it, the world we live in......

Its really easy to manage budget, just always be wise in buying goods look for an item that not so expensive but affordable don't buy expensive especially if they not really necessary always save money at least 20% of your monthly salary to have savings if they need.

This is some good advice. I thought I'd just elaborate on your critical/non-critical idea. Cutting expenses is a great idea. There are a lot of ways to do it. The priority though should first be to establish how much much you have and how much you spend. Figure out how much your critical things cost first. Pay the things you absolute must as soon as you get your paycheck. This would be rent, insurance, utilities, monthly bills (internet, cell phone). They you'll see how much money you actually have left to spend. Pay off any consumer debt you have ASAP, starting with the the debts with the highest interest. Writing everything down will help more than anything. Then you can figure out have much you have to spend on food and whether or not anything will be left over.

To manage my budjet i didn't buy things i dont really need.

Spend all my money :)
dont manage at all

When shopping monthly, make a list of the most important. then find the cheapest price with the same type of goods compare the brand one with another. The most important is the benefits and the cheap price. look for discounts. Set aside some money from income for savings, for example if at any time there is an urgent and very important need. That's what I do.

Unfortunately, I dont. I tried to save a bit here and there, but usually I just spend everything on concert tickets, PC upgrades or something.

I do not agree, spending should not be reduced.
but income should be added.

I conserve energy or to make me money to take my budjet

I agree that increasing your income is a very good thing to do. I don't think, however, that one's income should be raised to meet one's expenses. We need to always strive to keep our spending within the restrictions of our income. If we feel like those restrictions are uncomfortable, then we should work to earn more money. People who are in the habit of spending more than they make will often keep spending more than they make, no matter how much they make. This is just a recipe for debt!

Keep your budget in crypto. It`s a better way to save them.

Hello,
Usually, I try to do next: I don't save money when It comes to buy good and natural food. But I save on clothes buying medium-priced ones, I save on phones, computer, and other stuff. Calculating, It is almost 20-25 % per month from my income being saved. And this one is for Dark days :)

Write down on a paper all your sources of income and all expenses, then try to possibly minimize the expenses. It's a great way to do shopping by writing down everything you need to buy, you won't spend more money than needed.

I can see that having money in crypto would make it less convenient to spend money. This could be a good place to keep some of your saving. I don't think it is really an answer to the question though. It can only be part of the answer. A budget is a financial plan. It needs to account for what income you will have and was expenses. You use to to make sure you have enough money for all the things you need/want. I would be careful with your suggestion, as crypto markets don't seem very stable. It would be sad to lose all your savings in crypto currencies.

I say that depends, country and I suffer a bit since I am from Venezuela and our economy is very bad, but I try to buy everything today, because tomorrow I do not know if it cost twice what it cost, so I manage the little that I earn to buy everything I need, the only way I can save is buying dollars and keeping them

just get a notebook and a bank acct
always jot down what you buy and deposit some money it doesnt have to be big at first just have patience and itll work

Managing the budget is a difficult thing sometimes I make a list of my expenses for a particular month and decide