Trusting your budget in times like this.

[bangjoe]

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 need to see first the costs you have to spend in each month, then see how much money you definitely get each month, maybe you have reached the stage of distributing money from your income, but you missed some things such as reserve funds and others that you need to prepare to anticipate if there is an urgent need. then if you see from your total calculation, your income does not meet your needs or costs that must be incurred every month then what you need to do is reduce your expenses and or look for additional income to meet it, this is the basic principle of budgeting your life, if it is related to a rotating economy I think real price fluctuations are not like crypto assets which have large fluctuations in a matter of months, so you don't need to worry about it.

[RockBell]

Mmm setting budget is kind of a huge decision I must say cause after you must have done that following the process is another aspect and if your the type that spends lavishly you ought to follow your budget plans very well because it helps you but some people will still go as far as taking or doing more than what they budgetted. For me when I set a budget plan especially on my spendings I take full control of it in the Sense that if any unbudgeted wants come I back it off, and it's good to keep up this cause it helps in the long run I know from experience and it's not about the country's economy crisis, you can still set up a budget and follow it.

Sometimes even with the budget you might over spend and it is normal because you might feel you have planned everything out not until, things don't go according to plan, their people that don't even have plan all they want to do is to spend without having any serious plan at hand and the way everything is turning it's not every time that budget will work, the price of things are always changing, so the plan to have a budget can actually change so it's not like a stable decision you can say you can make every time.

Their are people that budgeting always works for but not for everyone because the economy is no longer suitable so been careful with money most especially. Plans can actually change so I don't even blame does that the plan is changing or anything. Because anytime I want to get something I noticed that am always crossing the line because i will still see something I need.

I would not agree thay economy crisis are not among, they are definitely the main cause because almost every currency is getting weak and it's losing value.

[Alone055]

You need to see first the costs you have to spend in each month, then see how much money you definitely get each month, maybe you have reached the stage of distributing money from your income, but you missed some things such as reserve funds and others that you need to prepare to anticipate if there is an urgent need. then if you see from your total calculation, your income does not meet your needs or costs that must be incurred every month then what you need to do is reduce your expenses and or look for additional income to meet it, this is the basic principle of budgeting your life, if it is related to a rotating economy I think real price fluctuations are not like crypto assets which have large fluctuations in a matter of months, so you don't need to worry about it.

Real price fluctuations are not about fluctuations in the value of currencies but it is about fluctuations in the prices of goods that we buy using that currency. Ever heard about inflation? That's what I'm talking about here.

Fiat currencies tend to lose purchasing power over time because of inflation and economies going down, and that is even more damaging than a cryptocurrency losing value because a cryptocurrency tends to have the potential to get back to its original price after some time, whereas it is more difficult for a fiat currency to regain its purchasing power very easily. The process is long and you might not even be alive to see it getting changed.

Inflation is one of the biggest reasons why it becomes difficult for a person to manage his livelihood with the limited income they have. If you have always had a fixed income which didn't change much, you must have been doing much better a few years back compared to the current times.

[Adbitco]

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

When to are talking about budgeting you are also talking about discipline,. They both works together because you can't talk about budgets without being principled on how you used and spend them. To make a successful budget and it comes true there are some random and oscillatory movement you would either stop or avoid in order to maintain within your budgets otherwise, there are chances that you will still spend above. But what to do is that if your income is like 500$ per month, and you budget to spend 80$ before it runs out, after you receive salary send out 400$ to savings or any place you wish to store it then send out 50$ as emergency fund, spend the remaining 50$ as budget when the funds doesn't serve you then you go get to emergency funds to spend as well because already your initial budget is 80$ and 20$ was a kind of addiction to sustain you.

[ChiBitCTy]

I use a budgeting platform that I is offered through the retirement plan that I work for.  It's on a page of financial calculators right at the very top, which of course is trying to say it's most likely the most important calculator of them all.  When I speak with clients I run this with them and simply stress the importance of inputting things that aren't necessarily monthly but do happen throughout the years, such as big vacations.   Of course always build in an amount for "unexpected expenses".

[Apocollapse]

Sounds great, right? But have you actually experienced it in real life? Because in my country and through some people I know, it costs at least 15k-20k dollars/person, not as cheap as you mentioned.

If it only costs 1-3 thousand dollars, maybe all the people in my country will choose to immigrate to Germany or any other developed country to work. 

Personally I'm not, but my friends does.

I'm not gonna sugarcoat it, but it's true the costs is not only $1-3K, but I'm sure it won't reach $15-20K although this depend on where you live and how smart you're.

It probably around $3K-$6.5K because the $1-3K is only for requirement to apply Ausbildung or WHV, but before that we need to learn the language which cost time and money, take the test (you need to pay again if you fail), create passport, buy flight ticket, and complete any other documents.

I believe people have such amount, but they afraid if they fail, imagine they saves $100 every month, which mean they need to work for 3-5 years. That's everything they have, if they didn't make it, they would lost all the money they saved.

[TheUltraElite]

This type of budgeting starts before the crisis period begins.

Saving money for emergency funds and saving in general should start as soon as you are earning and continued as long as possible.

In the crisis period you dont have the chance to look back at what you can spend, if you have funds you will sustain.
Additional sources of income are good but not possible for most of us.

In either case, tide over period and start saving money for the next crisis.

[ancafe]

Rich people who are already smart and those who come from poor families will certainly always have a plan to increase their wealth by continuing to find more money with the capital they currently have. So rich people who still have the spirit to work will continue to move with their wise plans and they will not care about people who still complain for various reasons. And from what you said, I think it is also true because everyone clearly cannot guarantee the level of stability of their income for the future so whatever can be done and it can make money, it will be very good to continue to do it without any indication or thought of stopping.

The most important thing is to stop thinking that we are not able to do big things to improve life in the financial sector because everyone has the same opportunity if done correctly and consistently. Everyone does have different opportunities but there is no reason for anyone not to move to make changes in their lives. Those who have wealth from their parents are also not necessarily successful in developing a business for example because sometimes they rely on the influence of their parents but they themselves do not have the skills.

Don't stop doing something more useful because in that way we learn from every experience to create our own version of success. It is better to struggle by working hard than to expect success by luck from the influence of parents.

[Yucky]

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 live in a country with a rational economy where things are always increasing. The price of what you bought yesterday will change when you go to buy it today. So, you should over-budget. For example, if you budget $3 for something, assume it will cost $3.50.

Also, try to find an extra source of income to complement the spontaneity and rational nature of your economy.

 Don't wait for a reason to save; just keep saving. You never know when emergencies will arise, and some will require more money than others.

📌Make saving a habit, no matter how little. Over-budget and allocate extra funds for miscellaneous expenses. Look for an extra source of income that won't overwhelm you, but will add something to your pocket.

Learn to cut unnecessary expenses. Be mindful of things that won't add value to your budget. It's okay to relax sometimes, but if you're not earning much, you need to cut back on extra spending. Don't go for every hang out your friends invite you, know your budget, know what you're going through, and adjust accordingly.

[bangjoe]

You need to see first the costs you have to spend in each month, then see how much money you definitely get each month, maybe you have reached the stage of distributing money from your income, but you missed some things such as reserve funds and others that you need to prepare to anticipate if there is an urgent need. then if you see from your total calculation, your income does not meet your needs or costs that must be incurred every month then what you need to do is reduce your expenses and or look for additional income to meet it, this is the basic principle of budgeting your life, if it is related to a rotating economy I think real price fluctuations are not like crypto assets which have large fluctuations in a matter of months, so you don't need to worry about it.

Real price fluctuations are not about fluctuations in the value of currencies but it is about fluctuations in the prices of goods that we buy using that currency. Ever heard about inflation? That's what I'm talking about here.

Fiat currencies tend to lose purchasing power over time because of inflation and economies going down, and that is even more damaging than a cryptocurrency losing value because a cryptocurrency tends to have the potential to get back to its original price after some time, whereas it is more difficult for a fiat currency to regain its purchasing power very easily. The process is long and you might not even be alive to see it getting changed.

Inflation is one of the biggest reasons why it becomes difficult for a person to manage his livelihood with the limited income they have. If you have always had a fixed income which didn't change much, you must have been doing much better a few years back compared to the current times.

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.

[mirakal]

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.

They say if you earn a bigger compensation, do not level up your lifestyle but stick still on your budgeting. Improve your way of living but never increase your expenses so that you can still manage to save despite of the high inflation these days. Also, do not just rely on a single source of income. That way, you can manage well your finances without struggling to make ends meet.

[Nalain420]

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

When to are talking about budgeting you are also talking about discipline,. They both works together because you can't talk about budgets without being principled on how you used and spend them. To make a successful budget and it comes true there are some random and oscillatory movement you would either stop or avoid in order to maintain within your budgets otherwise, there are chances that you will still spend above. But what to do is that if your income is like 500$ per month, and you budget to spend 80$ before it runs out, after you receive salary send out 400$ to savings or any place you wish to store it then send out 50$ as emergency fund, spend the remaining 50$ as budget when the funds doesn't serve you then you go get to emergency funds to spend as well because already your initial budget is 80$ and 20$ was a kind of addiction to sustain you.

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.

[Jawhead999]

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.

[SAFGJX]

Faith is a small word but it has a lot of value. If every person has the word faith then any difficult task becomes easy. For example, with faith we make a budget for the family and the country for a month and run the family and the country according to that budget. Then at the end of the month, it will be seen that the family and the country have improved to some extent. Needless to say, the budget cannot be higher than the income. Declaring budget higher than income means adding debt. The more the country can balance between the budget and the income, the faster the countries will advance economically.

[dezoel]

You live in a country with a rational economy where things are always increasing. The price of what you bought yesterday will change when you go to buy it today. So, you should over-budget. For example, if you budget $3 for something, assume it will cost $3.50.

Also, try to find an extra source of income to complement the spontaneity and rational nature of your economy.

 Don't wait for a reason to save; just keep saving. You never know when emergencies will arise, and some will require more money than others.

📌Make saving a habit, no matter how little. Over-budget and allocate extra funds for miscellaneous expenses. Look for an extra source of income that won't overwhelm you, but will add something to your pocket.

Learn to cut unnecessary expenses. Be mindful of things that won't add value to your budget. It's okay to relax sometimes, but if you're not earning much, you need to cut back on extra spending. Don't go for every hang out your friends invite you, know your budget, know what you're going through, and adjust accordingly.

This is not alone your problem we are also having same problem with in last three years things are already out of the control because you post about $3 for something, assume it will cost $3.50 but we have price doubled or some cases treble which are really terrible, but we are trying to survive in this society because we have no options, and we can't go against them.

Few years back we have low income, but we were doing ok but now recently we are having just treble our income, but our expenses are still not under our budget which is creating problems with now doing work more than 12 hours are usual with few years back this was just 8 hours even now in many cases peoples are doing work for 7 days and every day is had 12 to 14 hours duty because they want to give better things to their kids.

I personally had cut in many expenses but still I am also not able to compete with this current situation which is creating frustration, and I am going depressed day by day due to this situation but trying to fight until I can do with no positive signs are in front of me.

[Lanatsa]

You live in a country with a rational economy where things are always increasing. The price of what you bought yesterday will change when you go to buy it today. So, you should over-budget. For example, if you budget $3 for something, assume it will cost $3.50.

Also, try to find an extra source of income to complement the spontaneity and rational nature of your economy.

 Don't wait for a reason to save; just keep saving. You never know when emergencies will arise, and some will require more money than others.

📌Make saving a habit, no matter how little. Over-budget and allocate extra funds for miscellaneous expenses. Look for an extra source of income that won't overwhelm you, but will add something to your pocket.

Learn to cut unnecessary expenses. Be mindful of things that won't add value to your budget. It's okay to relax sometimes, but if you're not earning much, you need to cut back on extra spending. Don't go for every hang out your friends invite you, know your budget, know what you're going through, and adjust accordingly.

This is not alone your problem we are also having same problem with in last three years things are already out of the control because you post about $3 for something, assume it will cost $3.50 but we have price doubled or some cases treble which are really terrible, but we are trying to survive in this society because we have no options, and we can't go against them.

Few years back we have low income, but we were doing ok but now recently we are having just treble our income, but our expenses are still not under our budget which is creating problems with now doing work more than 12 hours are usual with few years back this was just 8 hours even now in many cases peoples are doing work for 7 days and every day is had 12 to 14 hours duty because they want to give better things to their kids.

I personally had cut in many expenses but still I am also not able to compete with this current situation which is creating frustration, and I am going depressed day by day due to this situation but trying to fight until I can do with no positive signs are in front of me.

As if we do have other options? There's no way that we could really be able to avoid this drastic economic shit situation on which it is really that becoming worst as the years passing by. It will really be that something  really affects the way of living on which it will really be that normal that we will really be struggling specially into those individuals who are really just that basically that being dependent on their monthly check or pay.
This is why for us to be able to survive on this life then it would really be that recommended that you should really be knowing on to set budgets accordingly. It will really be that common sense that you will really be giving out some priority into the things on what must be that prioritized and leaving into those things on which doesnt really have any use at all. Sometimes people do experience those hardship in terms of financial due to some bad decisions on spending into something which is really that worthless. They will really be only making those kinds of realizations on the moment that they are already on tough conditions or situations.
It will really be always recommended that you should be mindful about your spending and if have the chance then you should that focusing into trying out to have some other sources of income on which it could be obtained through having some investment or business on which these are the things that could possibly save up your ass with this shit economic state that we are in.

[Ryu_Ar1]

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 need to see first the costs you have to spend in each month, then see how much money you definitely get each month, maybe you have reached the stage of distributing money from your income, but you missed some things such as reserve funds and others that you need to prepare to anticipate if there is an urgent need. then if you see from your total calculation, your income does not meet your needs or costs that must be incurred every month then what you need to do is reduce your expenses and or look for additional income to meet it, this is the basic principle of budgeting your life, if it is related to a rotating economy I think real price fluctuations are not like crypto assets which have large fluctuations in a matter of months, so you don't need to worry about it.

I have a different view in this case because in my opinion, to start allocating expenses, of course we have to look at the income in one month that we get because this is important to make our budget not too overloaded in expenses so that what we spend is not greater than what we get from monthly income.

The reason is quite simple even though we know that spending every month starting from primary or secondary needs must of course keep going even without the budget coming in from income but at least when we have a fixed income (eg from salary) then we can better project ourselves for good management in finance so that our salary is not wasted on unnecessary expenses. If in the end we only rely on expenses without looking at income first, it may not be a balance because you will try to justify anything so that your expenses can be overcome.

Although in some cases it is good because we have the motivation to earn more money from hard work or side work, but when it cannot be fulfilled and you do not get additional money, the budgeted expenses will become difficult because it is not balanced and even overloaded with the income we have.

[AmoreJaz]

Faith is a small word but it has a lot of value. If every person has the word faith then any difficult task becomes easy. For example, with faith we make a budget for the family and the country for a month and run the family and the country according to that budget. Then at the end of the month, it will be seen that the family and the country have improved to some extent. Needless to say, the budget cannot be higher than the income. Declaring budget higher than income means adding debt. The more the country can balance between the budget and the income, the faster the countries will advance economically.

Not only faith, you need hard work at the same time. Because you need action to fulfil your obligations with your family. As much as possible, don't incur debt. Live below your means, so you won't incur any debt. Just live with basic necessities.

Also, don't rely on government's assistance as you will only subject yourself from disappointment. Much better if you can take care of yourself without relying from anyone else. As it is hard to ask from anyone, you need to find contingencies that you believe can support your basic survival. Odd jobs, alternative sources of food, side hustles and all. As long as you are living decently and not harming anyone, you will be at peace with yourself.

[MRY]

Faith is a small word but it has a lot of value. If every person has the word faith then any difficult task becomes easy. For example, with faith we make a budget for the family and the country for a month and run the family and the country according to that budget. Then at the end of the month, it will be seen that the family and the country have improved to some extent. Needless to say, the budget cannot be higher than the income. Declaring budget higher than income means adding debt. The more the country can balance between the budget and the income, the faster the countries will advance economically.

Not only faith, you need hard work at the same time. Because you need action to fulfil your obligations with your family. As much as possible, don't incur debt. Live below your means, so you won't incur any debt. Just live with basic necessities.

We do need to realize that apart from trust, action and work are cardinal packages necessary for honoring responsibilities, most especially familial responsibilities. A proper performance of these responsibilities shall support stable and healthy family life. Economy is another significant aspect to keen on, because in this way we spare ourselves with desperate financial expectations. This is not just the question of whether or not we have an income, but how we have organised our income well.

In this case it will be easier for us to allocate our funds more wisely because we shall shift our attention to our bare essential needs, and live like that until our financial position changes for the better. Less spending on unimportant things will make us better financially secure and able to remain stable in the future. In that manner, we will be able to enjoy the Am erican life along with being able to meet the needs of our families without worrying of being trapped with debt issues.

[Etranger]

Stick with your previous budgeting despite on having that upgraded or improved source of income on which this could be leading into more progressive life.

I highly doubt that many people will do this. Plus, I don’t see much sense in it because otherwise, it’s unclear why one would want to earn more if the standard of living remains the same and doesn’t improve. It then turns into a desire to acquire money for the sake of money, rather than using it as a tool to achieve other goals.