How do you Manage your Budget?

[eann014]

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

[Serco]

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.

[barrett_fire]

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.

[Sandra_Skelley]

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.

[Bhe]

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.

[Jimitieu]

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.

[marina_miru_mir_1]

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.

[Spacebound01]

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

[merj99]

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.

[Weluxzee]

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

[fairyvibes]

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.

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......

[Lesterus]

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.

[barrett_fire]

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.

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.

[imMac]

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

[Olivia S]

Spend all my money
dont manage at all

[parazhia]

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.

[raatnak]

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.

[BatuNissan]

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

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

[Skydreamer19]

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

[barrett_fire]

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

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

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!