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Quote from: radjie on August 30, 2023, 04:52:56 AM

Sometimes expenses are difficult to predict every month, even though we have detailed everything, there are always urgent needs that require us to incur additional costs
Perhaps the most important thing is to get into the habit of saving a fixed amount every month, so that we can have reserve funds when needed, and are always productive in seeking additional financial input, so that we can meet our main needs.

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.

Managing or budgeting finances is very important, so that our lives are peaceful and safe compared to not managing and budgeting finances, and this difference is very real.
And prioritize this budget for important expenses that we have to spend every month because they have become part of life, such as electricity, water, installments or house rent if any, basic needs and so on that we have to prioritize for a month's needs. However, this must also be adjusted to income, and if it is deemed insufficient then it must be cut or used sufficiently, and if it is still insufficient. There is no other choice but to look for a side job or additional income to cover everything. And it would be better if the overall income was more, it could be used to save and invest even in small amounts.

Very crucial because managing ones finances would really be that something that putting up everything in order specially on how much you do spend and how much you do earn. Having no plans or having no direction on how you do spend will definitely be putting up you in trouble in the future since we know that saving up accordinly and dont make yourself getting drowned with loan or debt is something that we should really be careful with.