Trusting your budget in times like this.

[Bright0515]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

[rachael9385]

First of all, in a situation like this, you need to have more than one source of income, so that you can meet up your budget and other necessary expenses. However, if you have made your budget, you should be able to maintain it because it can help you not to spend unnecessarily.

[Wiwo]

As an adult with responsibility, there is what we call emergency needs, this needs arise on daily basis and at that you can not accurately make a budget of how much you spend in a day, all that you need is to be financially stable enough to be able to withstand whatever comes your way as long as you keep living each day, it may not be from you directly but from your family so before you set out to make any budget, you should also take that time to check or reserve an emergency funds.

So for sure you can make a budget only when your income esceed you spending, and to achieve such financial level you have to make sure to always save more than you spend, in other to stay ahead of any situation that could arise.

[Cryptoprincess101]

When it comes to expenditures, you will definitely exceed your budgets because:
1. Due to inflation, the price of goods and commodities might not be the same again as you thought it would

2. Sometimes you can have a budget of things you need at a particular period of time but at some point you will find other things of more importance than the ones you already have in your budget which can lead to spending more than your budget.

3. Improper planning of your budget can also lead to one exceeding their budget.

No matter how you want to plan your budgets, you should make provision for miscellaneous items and also make an excessive budget such that inflation will not affect your already planned budget and if there's anything that would have falling outside the box, your excess budget can take care of them without you having to go above what you planned for.

[o48o]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

You adapt your budget to accordingly. That's what the budget is for. You also might want to slowly create a buffer fund or buffer storage for food in case of something extreme happens and your budget falls apart.

In fact, there should be plan b for not being able to follow your budget, (you can see that as part of a budget), because that can happen for many reasons. And remember that budget is a plan for adapting circumstances around you. So the plan changes if circumstances changes. Good plan always has a backup plan. Whether that includes taking a loan or living in your relatives for a while, or selling anything that isn't essential, that's your decision.

But there's no magic bullet here. Radically rising costs are tough nut to solve for anyone. If i would live in a country that's highly unstable. I probably would only keep money for essentials, I would buy only what's essential for my survival and save anything i could afford. I wouldn't save it as my own country's fiat currency if that's unstable, but as something like gold, or bitcoin. Or just USD. USD doesn't crash overnight and i can sleep with having my money in usd for a while. Not for a long time as it drops slowly in value though.

[Raflesia]

In this case is that as someone who is considered an adult and is responsible for his survival, financial management must be mastered as a basic step. This is an obligation and we are required to be able to do this because it is for our survival to be a little better.

When our financial management is better maintained then of course we can organize and plan for the future considering that in the end even though the needs continue to rise and the economic level is getting harder but when we can manage the finances we have from the salary we get every month at least we can still make some things so that our economic level is not worse than other people. Expenses and income must be balanced and many people do not realize that it is only because of the effect of a lifestyle that is ultimately higher that makes the income we get not really enough and blame the economy that is increasingly destroyed, but in the end things like that cannot be changed and what must adjust of course is ourselves if we still want to survive in difficult conditions like this.

[Rruchi man]

So how do you manage your budget in a rotational economy? I think I myself would need to hear from you guys.

In an economy where inflation is a common occurrence and prices are not always constant, you should always adjust your budget accordingly. For example, you could raise the amount you set aside for bills and necessities (like food) and then balance it with funds designated for "wants" or pleasure until you are able to increase your income again, perhaps by taking on an additional source of income.

You should try as much not to tamper with money meant for investment because that is what will guarantee you a future.

[EFS]

First of all, you need a good income. I mean you have to have an income higher than your expenses.
Next, you need to watch your spending. Put aside the things you spend because you need to and look at what you spend arbitrarily. If there are items that you think you spend too much money, cut back.
You can buy products that don't have a short consumption date, such as basic food and cleaning supplies that you have to buy constantly. Also, keep track of when these are on sale and stock up. This way, you won't spend extra money on products you would've bought anyway.
If you have bad habits, try to quit them. If you smoke or drink alcohol, try to cut down, if you gamble too much, try to quit. It's not easy to do these things, but if you succeed, not only your financial situation but also your quality of life will improve over time.
The economy is bad in many countries. We all go through difficult times at some point in our lives. But you can be sure that it won't always be like this. Stay positive.

[itorai]

As an adult with responsibility, there is what we call emergency needs, this needs arise on daily basis and at that you can not accurately make a budget of how much you spend in a day, all that you need is to be financially stable enough to be able to withstand whatever comes your way as long as you keep living each day, it may not be from you directly but from your family so before you set out to make any budget, you should also take that time to check or reserve an emergency funds.

So for sure you can make a budget only when your income esceed you spending, and to achieve such financial level you have to make sure to always save more than you spend, in other to stay ahead of any situation that could arise.

indeed, saving is something that is needed to prevent difficulties when making a budget, when your situation requires it, by working you will always generate income, when there is no income, that is where the usefulness of this savings budget lies, which can help provide solutions to your needs.

[Apocollapse]

Many users have mentioned to earn a high income which is true, but it's still not enough.

As I can see you're live in third world countries, the most possible ways to earn high income are:
1. Move to developed countries who welcome to immigrants e.g. Germany, Australia, etc.
2. Have a skill to offer in internet, get a clients from developed countries.

I don't recommend to start business because it's risky or find more jobs in your countries, because it doesn't enough to change your life.

[Hewlet]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

if you're staying alone without too much external responsibilities, it's easier to curtail your expenses than it is when you're staying with other people like family members who you're assisting in one way or the other in terms of footing thier bills. Budgeting is very important most expecially in times like this when cost of living is very high and the wage is almost constant. Here's what I do. I have different account that houses my fiat which is what I make use of for most of my spending. Once my pay comes in, a take out only 35% of it for all my needs while the rest is stored in a form I don't usually touch except I have exhausted all options available. Because I'm leaving in a large household where you can't really assume an amount that's enough for your weekly or monthly expenses, I just try not to spend above my weekly set out amount even though i don't really have a defined amount I have set out for my weekly ot monthly expenses.

Once if start staying in my space fully, it's going to be much easier to have a budget that's relatively achievable since I can project all the things I will be needing on a weekly basis and stay disciplined not to spend above those needs. Overall, budgeting is very important and it's one way that helps you manage the resources you're earning such that you're not spending above what you're earning and that you're using your money to what's the right thing.

[Text]

Budgeting can feel like a constant balancing act. I’ve found that the key for me is staying flexible while also sticking to the core essentials like housing, food, and bills first. I’ve started giving myself a little wiggle room in my budget for unexpected expenses, which has helped reduce stress when things go off track.

One thing that’s really helped me is tracking my spending more frequently. Instead of just checking at the end of the month, I review it weekly to catch any overspending early. It also helps to categorize my spending, so I can quickly see where I’m exceeding and where I’m doing well.

I’d love to hear what strategies have worked for others too because this is something I’m still working on.

[Fiatless]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

It will be very difficult to follow your budget if your country is experiencing inflation. The amount you assign to projected expenditures will keep increasing, which makes the budget ineffective.

The easiest way I can think of ito help you maintain a budget in a country experiencing a constant increase in the price of commodities is to cut projected expenses. Maybe you will have to remove some items that are not basic needs in the budget. I am also facing the same problems in my country and had to cut the amount I spend on internet and TV subscriptions to avoid a deficit.

1. Move to developed countries who welcome to immigrants e.g. Germany, Australia, etc.

This is a very good idea but the problem is that moving to these countries is also expensive. The increase in racist activities in these countries, especially Germany, is discouraging.

[Yatsan]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

I totally concur. Containment of one's budget becomes difficult. More so when price of things Keep going up and up. No matter how much advance preparation I can do, But an unexpected rise in cost or surprise bill can undo everything.

What I have been trying to do the last little while This has been to inject some flexibility into my budget. For instance, I give myself a 'buffer' category for specific price or cost surprises. This helps me worry less when the grocery bill or other essentials fall short. Suddenly spike Another way that helps is to track more expenses. Sometimes just seeing where money is going helps adjust sooner rather than later to the end of the month knowing I spent too much money.

if you're staying alone without too much external responsibilities, it's easier to curtail your expenses than it is when you're staying with other people like family members who you're assisting in one way or the other in terms of footing thier bills. Budgeting is very important most expecially in times like this when cost of living is very high and the wage is almost constant. Here's what I do. I have different account that houses my fiat which is what I make use of for most of my spending. Once my pay comes in, a take out only 35% of it for all my needs while the rest is stored in a form I don't usually touch except I have exhausted all options available. Because I'm leaving in a large household where you can't really assume an amount that's enough for your weekly or monthly expenses, I just try not to spend above my weekly set out amount even though i don't really have a defined amount I have set out for my weekly ot monthly expenses.

Once if start staying in my space fully, it's going to be much easier to have a budget that's relatively achievable since I can project all the things I will be needing on a weekly basis and stay disciplined not to spend above those needs. Overall, budgeting is very important and it's one way that helps you manage the resources you're earning such that you're not spending above what you're earning and that you're using your money to what's the right thing.

I can understand budget issues, especially when you live with other people and have other financial responsibilities. Controlling expenses is certainly much easier if you just manage your own expenses. I think it's great that you have a system where you set aside only 35% of your money for your needs while leaving the rest in an untouchable account. Such discipline can literally be a lifesaver when unexpected expenses arise.

For me, I find that budgeting is much more difficult when living with family or sharing finances. Because you can't always predict what's going to happen, things like medical bills, tuition, or even minor emergencies can often derail the best laid plans. What helps me is having an emergency fund that I regularly contribute to that is separate from my main budget. That way, if something unexpected happens, I will not strip myself of my daily allowance or overspend. I agree that living alone makes budgeting easier because you have more control over your spending. I think once you go out You will find it much easier to plan your weekly and monthly expenses.

Budgeting can feel like a constant balancing act. I’ve found that the key for me is staying flexible while also sticking to the core essentials like housing, food, and bills first. I’ve started giving myself a little wiggle room in my budget for unexpected expenses, which has helped reduce stress when things go off track.

One thing that’s really helped me is tracking my spending more frequently. Instead of just checking at the end of the month, I review it weekly to catch any overspending early. It also helps to categorize my spending, so I can quickly see where I’m exceeding and where I’m doing well.

I’d love to hear what strategies have worked for others too because this is something I’m still working on.

I can definitely relate to the constant balancing act when it comes to budgeting! It is such a problem. Especially when unexpected expenses arise. same as you I prioritize what's important when booking. Receipts and groceries before anything else. But I found it important to do other things. Life happens and sometimes you have to make changes.

One thing that changed for me was a budgeting app that can track real-time expenditures. It truly gives me much responsibility to know what I'm doing. I can immediately see if I'm over-spending on something such as eating out or entertainment. I also have "miscellaneous" money for unpredictable expenses that tend to throw things off balance. That helps me decrease my anxiety and stick to the plan. I agree that reviewing your budget weekly has made all the difference. It has assisted me to spend much more than I should because I have reviewed at the end of the week instead of waiting till the end of the month. Other significant savings strategy which I adopted recently is to categorize spending into "Needs" and "Wants," making it easier for me to know what needs cutting first.

[icalical]

It is difficult to manage a budget, especially within an unpredictable economy where prices of staples can suddenly increase. What works for me personally has been building a more flexible budget that takes not just projected income into account but also unexpected expenses, placing room for wiggles on items like groceries or gas prices, which never quite seem to stay put.

Though inflation does indeed appear to be cooling in some regions, the instability certainly is a reality that continues with high costs for housing and services, for example, In Indonesia inflation rates have experienced a few ups and downs in recent years, sometimes spoiling even the best laid budgets. Just this year, inflation has actually been kept in check-staying at about 3%-but rising prices of everyday goods still make it tricky to stay on track. And so, living in a country where inflation is still a very relevant concern, it would seem as though, no matter how much you plan, you will overspend sometimes. What has helped me is updating my budget more frequently and setting aside extra money for months where prices spike. Doesn't work perfectly, but that little cushion goes a long way in an economy that's so unpredictable.

[mindrust]

I make budgets all the time. I make an emergency budget, a monthly expenses budget, an investment budget, a dooms day budget… one can create a budget for almost any situation. The main problem is, do you have the cash flow? Unless you have a decent cash flow, you can’t make a budget for anything and a decent cash flow comes with a decent job or business. Usually owning a business is much more rewarding than having a white collar job btw. If you don’t have that kind of income you should focus on that problem first. It makes a whole lot of difference to have $10k monthly income than having only $3k.

[Strongkored]

Sometimes we think that we have spent more than the budget and consider it a waste, but it could be that when making a budget we made a mistake in setting or not taking into account the increase in food prices or other things that are routine and mandatory for us to spend, so going back to setting a budget and sometimes records what we spend enough to help evaluate whether our budget is right and when we exceed it we are wasteful or we made the wrong budget.

Usually we make a budget based on income, pay close attention, it could be that our income is no longer sufficient so we need to find additional income so that we will not be stressed because we always spend more than what has been budgeted and need to create other funds and this is like a reserve budget that we can use when the main budget has passed.

But actually the theory is always easy, what is difficult is being disciplined in managing money, what is not important, we should be able to reduce spending.

[Kemarit]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

It's really very hard to manage our budget, specially if your salary and is not that big or enough for you family. However, the way I do it, is that I literally write down in a notepad the bills that I have to pay in a given month, like credit cards (yeah, it's killing me), then everything else like internet, electricity and water bills.

And then what's left, me and my wife work it out on how we gonna budget for a week. Although I'm into crypto and see I step aside as well some money to continue my accumulate and then if everything else fail, I just a small portion from my crypto saving.

[passwordnow]

It is very important for every man to have a budget on how to spend to avoid being broke or overspending. But some people I take myself for an instance no matter how I make my budget at some points I still exceed it so I really need your thoughts guys.
And at the same time having a successful budget and maintaining your budget depends on the situation of your country in a country where prices of goods are not stable it would be very difficult to have a trusted budget.

So how do you manage your budget in a rotational economy I think I myself would need to hear from you guys.

It's no longer how to be a good budgeting person but on how many sources of income we have to attain the cost of living that we have. We might be living below our means but sometimes, it's not really enough to cover all of the cost from the bills, food, rent, gas, etc. And that's why even how good you are in budgeting but the cost keeps on rising and there's no way that most of them are going to decrease in the future. So with that, the one best solution is to make more money. More hustles, more investments, assets and businesses that will generate more income to keep up with the fight of inflation. I think that there's no other solution unless you're really into budgeting and you will be able to sacrifice other important means of your bills but most of us won't be able to do that.

[DeathAngel]

The easiest way is to work out what your bills are, add 10% to that sum & then you can spend whatever remains from your salary on things you enjoy. It’s probably a good idea to have an emergency fund too.