Trusting your budget in times like this.

[Altryist]

 Our earnings may not always be stable, there will be times when we can earn more, there will be times when the income will be lower than usual, so we must take care in the best of times to make savings that can support us in difficult times. You can lose your job, or close your business when it becomes unprofitable, anyone can face this, it is for such times that you need to have savings. It is better that we never need them, than that they will be absent when we need them.

[Mame89]

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.

In managing a budget in an economy that is constantly rotating or unstable, at least we have additional income. Even if there is none, we must learn to manage our finances well and must have an emergency fund and must have investments. There may be many strategies depending on ourselves, but what is certain is that we must change bad habits to be more disciplined in managing finances.

Actually, there is no need to calculate the percentage, just determine how much the monthly consumption budget is. The rest is all invested. The greater the income, the greater the investment value, so you must have long-term and short-term savings so that assets continue to grow for your finances when economic conditions are uncertain.

The point is, stay away from debt, especially debt that is consumptive in nature. Because people who do not have debt are unlikely to go bankrupt (So be careful about debt).

[eightdots]

Our earnings may not always be stable, there will be times when we can earn more, there will be times when the income will be lower than usual, so we must take care in the best of times to make savings that can support us in difficult times. You can lose your job, or close your business when it becomes unprofitable, anyone can face this, it is for such times that you need to have savings. It is better that we never need them, than that they will be absent when we need them.

Saving helps us cope with unexpected situations. One of the purposes of saving is to be prepared for unexpected situations. Each individual's income is different and can determine the amount to be saved according to their income. The amount of savings should not be imposed on the person, savings should be made regularly. Savings take time to accumulate, but savings are useful when a difficult situation arises.

Saving is a habit and it is not easy to acquire this habit. If the habit of saving is acquired, it also helps the person manage their own economy.

[uchegod-21]

Our earnings may not always be stable, there will be times when we can earn more, there will be times when the income will be lower than usual, so we must take care in the best of times to make savings that can support us in difficult times. You can lose your job, or close your business when it becomes unprofitable, anyone can face this, it is for such times that you need to have savings. It is better that we never need them, than that they will be absent when we need them.

Saving helps us cope with unexpected situations. One of the purposes of saving is to be prepared for unexpected situations. Each individual's income is different and can determine the amount to be saved according to their income. The amount of savings should not be imposed on the person, savings should be made regularly. Savings take time to accumulate, but savings are useful when a difficult situation arises.

Saving is a habit and it is not easy to acquire this habit. If the habit of saving is acquired, it also helps the person manage their own economy.

Sometimes I read where people undermine the importance of savings. I have seen some acclaimed financial advisors that despises savings and they preach that investment is all and in all. But they forget that sometimes investment goes wrong. And they also forget that when you are in your low it is the savings that comes in for you. As much as you can, save!

Talking about budget, I'm going to read through this whole thread and see a post that solves my problem because I'm in same situation with OP.

[pusaka]

Sometimes I read where people undermine the importance of savings. I have seen some acclaimed financial advisors that despises savings and they preach that investment is all and in all. But they forget that sometimes investment goes wrong. And they also forget that when you are in your low it is the savings that comes in for you. As much as you can, save!

Talking about budget, I'm going to read through this whole thread and see a post that solves my problem because I'm in same situation with OP.

I think that saving can help us in unexpected situations so that at that time we really need sudden funds. I invest and I also save, why? I want to minimize the risk so that I don't have to withdraw my investment when the situation is urgent. Because if we are in a profitable situation, maybe it will be fine, but if the market is down and we are at a loss, then it will definitely be a loss if we withdraw our investment assets. Therefore, I try my best to manage my finances as well as possible, on the one hand so that I can continue to invest, on the other hand I also have to have savings that I can use in sudden situations. This is a form of anticipation and also minimizing risk.

[Popkon6]

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 don't know what your source of income is, but every person has some source of income. So you can meet your unique needs with the money that survives after meeting basic needs from your source of income. Because it requires a plan, it must detail how you can minimize the extra costs in the right plan. So extra expenses you can reduce your extra expenses by investing in bitcoins every week. So only you can put yourself to the right use with a creative mind.

[doomloop]

Budget is very important for every single person life . If any person don't make budget and he randomly use that money on different things,he will be poor in future. No matters what's your income but actually matters how to manage or use that money and where you are using this money ? You are doing investment or gambling? That matters a lot but you should make a budget for investment in cryptocurrency because in future it will help your child and they they will be free but other investments are not like this and no investment give returns like that.But everyone should make his own budget and no follow anybody ang this will be not practical and he have different income and different liabilities.

No one have any doubt about budget with it's not only important for the single person it's also important for the family and other many which needed to grow with discipline and better environment because without budget we can't go through in positive way for the development usually things or persons without budget had more chances of burst then peoples those are doing things in calculations and within to their budget.

Even now situation is going the worst day by day in many countries due to inflation and domestic problems but peoples or firms which are still doing all under minimum budget have better results here now having things under budget are difficult but still peoples those understand and able to do they are trying their best for survive and have some hope of improvement in near future with numerous communities and peoples are suffering badly because their budget is having not enough sources for them to bring some stability into their lives which are ruined by current uncertainty.

[Rabata]

Sometimes I read where people undermine the importance of savings. I have seen some acclaimed financial advisors that despises savings and they preach that investment is all and in all. But they forget that sometimes investment goes wrong. And they also forget that when you are in your low it is the savings that comes in for you. As much as you can, save!

Talking about budget, I'm going to read through this whole thread and see a post that solves my problem because I'm in same situation with OP.

I think that saving can help us in unexpected situations so that at that time we really need sudden funds. I invest and I also save, why? I want to minimize the risk so that I don't have to withdraw my investment when the situation is urgent. Because if we are in a profitable situation, maybe it will be fine, but if the market is down and we are at a loss, then it will definitely be a loss if we withdraw our investment assets. Therefore, I try my best to manage my finances as well as possible, on the one hand so that I can continue to invest, on the other hand I also have to have savings that I can use in sudden situations. This is a form of anticipation and also minimizing risk.

Anytime people can face unwanted situation. If any saving or emergency fund is formed at that time then that moment is definitely safe for him. But it is often seen that many continuing investing but no one builds any emergency fund. It is not always possible to profit from an investment at one stage. When the investment is supposed to be profitable, it can go to the worst level. And in this concern, if the investor has an urgent situation, he has to manage the money in any way. According to the situation, he has to complete that urgent task with huge losses. I've seen some good advisors who suggest making separate preparations for their emergency funds the same way they prioritize investing. There is no alternative to setting up a emergency fund in carrying out any regular activities. Those who do not do this will lose their wealth.

[Nwada001]

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.

Multiple sources of income are not the solution to maintaining a budget; you make your budget based on how much you earn and not how much you expect to earn. If you have multiple sources of income, there is also a possibility that your demand will increase, which will make it impossible to maintain that budget.
 
The best thing to do first is to have a self-discipline mindset not to spend on things outside your budget list, and there should also be some extra funds that will be used to cover up unforeseen expenses that, even if the price of things increases, won't affect you much.

[dunfida]

Sometimes I read where people undermine the importance of savings. I have seen some acclaimed financial advisors that despises savings and they preach that investment is all and in all. But they forget that sometimes investment goes wrong. And they also forget that when you are in your low it is the savings that comes in for you. As much as you can, save!

Talking about budget, I'm going to read through this whole thread and see a post that solves my problem because I'm in same situation with OP.

I think that saving can help us in unexpected situations so that at that time we really need sudden funds. I invest and I also save, why? I want to minimize the risk so that I don't have to withdraw my investment when the situation is urgent. Because if we are in a profitable situation, maybe it will be fine, but if the market is down and we are at a loss, then it will definitely be a loss if we withdraw our investment assets. Therefore, I try my best to manage my finances as well as possible, on the one hand so that I can continue to invest, on the other hand I also have to have savings that I can use in sudden situations. This is a form of anticipation and also minimizing risk.

Anytime people can face unwanted situation. If any saving or emergency fund is formed at that time then that moment is definitely safe for him. But it is often seen that many continuing investing but no one builds any emergency fund. It is not always possible to profit from an investment at one stage. When the investment is supposed to be profitable, it can go to the worst level. And in this concern, if the investor has an urgent situation, he has to manage the money in any way. According to the situation, he has to complete that urgent task with huge losses. I've seen some good advisors who suggest making separate preparations for their emergency funds the same way they prioritize investing. There is no alternative to setting up a emergency fund in carrying out any regular activities. Those who do not do this will lose their wealth.

These are inevitable things on which you would really be able to encounter things on which you dont really like to happen because there's no way that you could really be able to avoid problems on which it do really simply means that you would really be that needing yourself to get prepared on whatever the situation that you might be able to face on. If you are someone whose really that not anticipating those things then you would really be getting shocked on the time that you will really be able to face up some problems in the future. On the moment that this happens then you will really be that easily panicking because you havent been able to anticipate or able to expect that this would gonna happen. This is why it is really that important that you should really be knowing at least on what are the things that you should gonna do and dont
make yourself that easily shocked and able to face on on whatever possible problem you might be able to encounter.

Budgeting will really be always recommended whether you do have still the money because we know that money isnt that unlimited and could that easily deplete out if you wont really be that careful.
On the moment that you would really be having such behavior then you might be potentially be able to encounter issues later on.

[Peanutswar]

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.

Once the person earns money sometimes they change their lifestyle reason why they extend additional cost we called this as lifestyle inflation which is before they cant afford those things and now after they get money and a budget they make an excessive buying to those things they cant afford, sometimes casual spend and sometimes is for flexing in social media. Now they get ignore their savings because they know that there will be a salary will coming next cutoff. Be a financial literate and manage your money properly to avoid spending much and once unexpected emergency or occurrence happen you have a money.

[bitgolden]

I think that saving can help us in unexpected situations so that at that time we really need sudden funds. I invest and I also save, why? I want to minimize the risk so that I don't have to withdraw my investment when the situation is urgent. Because if we are in a profitable situation, maybe it will be fine, but if the market is down and we are at a loss, then it will definitely be a loss if we withdraw our investment assets. Therefore, I try my best to manage my finances as well as possible, on the one hand so that I can continue to invest, on the other hand I also have to have savings that I can use in sudden situations. This is a form of anticipation and also minimizing risk.

This is the way to grow, if you can save and put some aside for investments, then eventually you will get richer to do stuff more freely, otherwise you are not going to end up with anything good.

I believe we are seeing something that is changing for the worse right now with people who do not have enough income to save, but we need to be more logical, creating debt, no matter what the cause is, always carries a risk. I am not saying don't have any debt, there are smart debt and bad debts, do not get in debt to buy a new iphone pro or something, but get in debt to buy a piece of land for example.

I believe the best thing to do right now would be making sure we deal with a lot of profit and if we can do that then we are going to make a good return without a doubt. One exception is health, making debt for health is acceptable. Always keep trying to grow, and have more and more, eventually you will do fine, I have been trying to grow a lot, failed most of the time, but still ended up "richer" in the sense that I am not poorer at least.

[ancafe]

Once the person earns money sometimes they change their lifestyle reason why they extend additional cost we called this as lifestyle inflation which is before they cant afford those things and now after they get money and a budget they make an excessive buying to those things they cant afford, sometimes casual spend and sometimes is for flexing in social media. Now they get ignore their savings because they know that there will be a salary will coming next cutoff. Be a financial literate and manage your money properly to avoid spending much and once unexpected emergency or occurrence happen you have a money.

That's how a person's lifestyle is when they have money and their previous standard of living which seemed simple changes completely because it is influenced by the additional income. When the income we get is stable and can be said to be large, it is not a problem as long as people can make adjustments to expenses and needs to support life. But if it is only to show off on social media because they have a better standard of living, then I think it is not a behavior that should be exemplified.

We need to be smart in managing our finances so that when unwanted things happen, we have a solution. Most people are wasteful in buying expensive things, but when they have financial problems, their lives become worse and they end up having to sell the luxury goods they previously bought.

[pusaka]

I think that saving can help us in unexpected situations so that at that time we really need sudden funds. I invest and I also save, why? I want to minimize the risk so that I don't have to withdraw my investment when the situation is urgent. Because if we are in a profitable situation, maybe it will be fine, but if the market is down and we are at a loss, then it will definitely be a loss if we withdraw our investment assets. Therefore, I try my best to manage my finances as well as possible, on the one hand so that I can continue to invest, on the other hand I also have to have savings that I can use in sudden situations. This is a form of anticipation and also minimizing risk.

Anytime people can face unwanted situation. If any saving or emergency fund is formed at that time then that moment is definitely safe for him. But it is often seen that many continuing investing but no one builds any emergency fund. It is not always possible to profit from an investment at one stage. When the investment is supposed to be profitable, it can go to the worst level. And in this concern, if the investor has an urgent situation, he has to manage the money in any way. According to the situation, he has to complete that urgent task with huge losses. I've seen some good advisors who suggest making separate preparations for their emergency funds the same way they prioritize investing. There is no alternative to setting up a emergency fund in carrying out any regular activities. Those who do not do this will lose their wealth.

That's the point, we don't know when the things we don't want will happen. Even though we are still fine now, it doesn't mean that we will never be touched by bad things, there is always a risk that we will feel that way. So to anticipate it is to prepare an emergency fund. Someone might say that during their life they have not experienced anything bad, so they tend to ignore things that are a form of preparation. Nobody wants bad things to happen, everyone definitely wants their life to be good. But that is just a hope and we can only do our best to prevent it from happening.

[Gooner0]

Well in the kind of economical situation you find yourself, I'll advise you carefully plan your self!
Check how much you earn in a month, and try to check how much you spend in that same month, if how much you spend exceeds how much u earn then you have to retrace your steps.   Cut your budget, try to find other sources of income, be pragmatic,be determined not to get broke then trust me you'll watch things get better.

[bangjoe]

Talking about inflation which is very big if it is calculated annually, but are you going to maintain the same income in a matter of years? are you not investing and so on to sustain your life against inflation? if not then you have to do it, because if I have to talk about inflation by fiat, every year it will definitely decrease the exchange rate, so we compensate for it by investing or getting more income so that life can be maintained in the long run.

If you didn't earn much, you won't able to invest much.

Yeah you might make profit from investing for few years, but we don't know what happen in the future and your investment might not enough to cover your life.

Most people do invest, most people do find other gigs to earn extra money. But, most of them choose not a good investment e.g. not surpass inflation rate or they choose gigs that can't be leverage e.g. food delivery instead of singer, actor, programmer etc.

Whether it's a lot or not is subjective and how to invest has a value that we can't calculate for each person.
Motivated from the book Phiyscholgy of Money by Morgan Housel, the fact is that for an ordinary worker can invest enough to get a lot of value when in his old age, yes even though it does take longer, but it is like more certainty in building wealth and certainly safe, how to treat money will affect how to make decisions in using money for his needs, some people reduce their expenses and do not spend their money on things outside of primary needs so that they can accumulate more.

Choosing where to invest is very important to save value, not a few do fail, such as the amount of the increase in the S&P500 and gold that can withstand the percentage of inflation, let alone bitcoin which is certainly more profitable, but we must be aware of the habits of people investing and why they fail is to choose something like gambling, they don't know what they are buying and think within a month or two can have an increase in price, of course as an investor is a silly thought.

[Gentle_Soul]

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.

Well said I believe what you said about having multiple sources of income but let's not also forget that when you start having different sources of income it comes with it's own  responsibility. The more money you make on a daily basis , is the more open you are to responsibilities especially ones you can not say no know to
In this case this is where decipline comes in for I think once you make out your  plans for expenses it should be disbursed immediately to avoid being spent outside what it is budgeted for . I think why people spend more on unnecessary things is because the money is just so easily accessible to them so at anytime they could withdraw it for a different purpose for which it was meant
So in my opinion decipline is necessary to avoid unnecessary expenses this decipline could include making this money inaccessible not untill it is time for it to be used .

[Wiwo]

Well said I believe what you said about having multiple sources of income but let's not also forget that when you start having different sources of income it comes with it's own  responsibility. The more money you make on a daily basis , is the more open you are to responsibilities especially ones you can not say no know to
In this case this is where decipline comes in for I think once you make out your  plans for expenses it should be disbursed immediately to avoid being spent outside what it is budgeted for . I think why people spend more on unnecessary things is because the money is just so easily accessible to them so at anytime they could withdraw it for a different purpose for which it was meant
So in my opinion decipline is necessary to avoid unnecessary expenses this decipline could include making this money inaccessible not untill it is time for it to be used .

You are correct to say that there is need for proper budgeting before the resources comes in, what I do most time. Es is that, I never allow money to seat in my bank account without any project that it be meant for, this is because of my past experience where I was spending more that I was earning, and when I seat to have analysis of my spending, I come to realise that, I was spending like that because I always wait for money inflow to happen before making budgets for that money.

But ever since I become pro active with my financial management and also spending according to my my budget and not leaving extra cash reserves seating in my balance, it becomes more easier for me to be able to follow up and stay on point with my financial requirements and inflows, most times I operate a zero balance to avoid spending out of my budget regardless of how many sources of income that I have.

[RockBell]

Our earnings may not always be stable, there will be times when we can earn more, there will be times when the income will be lower than usual, so we must take care in the best of times to make savings that can support us in difficult times. You can lose your job, or close your business when it becomes unprofitable, anyone can face this, it is for such times that you need to have savings. It is better that we never need them, than that they will be absent when we need them.

That's is how life is nothing is certain everything cannot go the way you want always and just like the illustration you gave you can not always get what you want always their periods were you don't have a choice than to shape your self to what ever situation you find your self at that particular time. And if you are anymore in a particular time you should be able to know how to control your funds so as not to mismanage funds because when you might need does funds you might have spent a lot of money on things that are not relevant and might regret why you spent that way.

And a lot of people need to start understanding thay saving is very important and if you want to save then you have to invest it in crypto currency, if you feel you are not even comfortable with how money is losing its value we need to take things seriously especially when it comes to our finance you won't know the relevance of what everyone is saying until you need money.

And this is one of the reasons I love bitcoin investment because as little as I get sometimes I don't joke with accumulation, because I know the relevance of using the money someday when am seriously in need of money I won't have a choice than to use the funds but I always have emergency fiat for emergencies.

[Cryptmuster]

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 have noticed one thing, that the cost of living is constantly being raised so that people cannot improve their standard of living. Inflation, tax increases and other economic difficulties lead to the fact that we constantly need to think about how to distribute our will in such a way that it is enough for the standard of living to which we are accustomed, or think about how to increase our income. Sometimes in the most difficult times you have to save.