Withdrawal can become a habit. Once you develop the habit of withdrawing either fiat or converting your crypto holding to local currency for use, It almost becomes so difficult to break.
Needs and wants/problems to solve with money never stop arising, how do you handle your withdrawal? Be sincere, considering that local currency is becoming less of value as the cost of things are constantly rising now, so much that the cost price today is not the cost price tomorrow. Is a budget still effective in your opinion?
Well it’s good to be making budgets so that we will be able to know what you’re spending on. But, sometimes there are some expenses that you never plan and they just come in out of nowhere.And just like you said, these days inflation has been much and there has been an increase in the price of most things you will find in the market.
So, the best solution now will be to increase our means of income: if you only have one source of income, it’s best that you also look for another source that will serve as a passive income. So what I’m trying to say is that your income should match or surpass the level of expenses you are making in a month.
Unexpected spending is the biggest reason people are having trouble while having a steady income. I am in no means a poor person, I am doing well for myself and I am very happy about it, and I do save some money aside every week as well so I am quite proud of that situation as well. However when you are not wealthy, even the smallest thing could set you back for a very long time.
I needed to buy a new shoe? Extra spending this month, I got my wisdom tooth pulled out? Extra expense, I needed to buy few new shirts? Extra, I needed a PC? Boy oh boy, such a huge extra. So, there are tons of stuff in the world that causes us to lose money when not expecting. Making a budget could be tough when there are so many unexpected spending happening.