Quote from: xSkylarx on August 31, 2023, 04:17:15 PM

Quote from: red4slash on August 31, 2023, 04:13:05 PM

I have a breakdown of my exact expenses every month, I think I have to make sure to see how much I spend, and I also don't forget to always prepare extra money every month to be ready if there are urgent needs or sudden expenses. And from there I can set aside money to save and also I allocate and to invest.
I always differentiate money for saving and money for investing, why? yes it is a form of my preparation so that I don't have to sell my investment when something urgent happens in the future because I still have savings money ready for me to use.

This form of planning we must do, even though we never get into trouble but we don't know what will happen in the future, and when we don't prepare it will be a bigger problem.

But lucky you as you are still able to budget your money, a lot of people right now that are having a headache because again it is the end of the month, they will receive their salary, they will then pay for the bills and also food on which they will try to budget it but it is not enough, though the solution on this is having another source of income if ever our income is just enough for sure we know how to budget or I don't know with other people but mostly I've known they really budgeting their money because if not we will struggle and forgot to pay other bills.

Do you think I didn't have a problem with that before? If that's what you think then it's wrong, because before I was also like that, who waited for the gahi every month and then paid some bills or even loans because my expenses were greater than what I earned every month, I felt that for a very long time, until finally I realized and asked myself "how long does it have to be like this?" and it really hit me, because if I don't want to change and organize my finances then it will be a big problem in the future.
I also started small and it was a process and a sacrifice because I needed to stabilize my finances first before I could do what I can do now.

Quote from: Pamadar on August 31, 2023, 05:54:11 PM

Good plan like that needs to execute the right way. If you have such kind of discipline, the chance that you will not
overspent your money and chance to be more stable in the future or in your retirement is possible.

It's hard to budget, but with willingness and determination to have a good life in your future, you will be able to
established a good and balance money management.

More on how you plan and how you perform to avoid making a mistake in spending your money.

Well I wouldn't say it was easy and I also practically started from 0.
I made it a habit to divide my expenses into 3 categories and I'm sure everyone already knows this, primary, secondary and tertiary. I started to eliminate my spending defensively on tertiary needs, because if you think about it, we spend more on tertiary needs, even though it's not something that is mandatory for us for me personally. There has to be sacrifice and suppressing our desires.