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It is really annoying to fall short of funds when allocating the budget to our needs. This list are helpful in guiding one on how to keep our expenses on tab and avoid the frustration of falling short of funds even though we always try to look for extra funds to fill our needs.

Setting the budget and knowing the reason why we always have shortage is a good way to troubleshoot our financing activitives.

When you start planning on budgeting first you have to set first your savings since it's the main base of your financing and the rest or half of your money depends on what are you going to do it's either you will invest to make it double or put up a business.

And actually, before that, we also have to stabilize our income first. Because setting a good budget won't be of much use if our income is uncertain. But if we feel we have a fairly stable income then setting a budget and implementing it becomes easier. Recognizing the types of needs and classifying them based on basic and additional needs will make it easier for us to manage our financial expenses. It's just that we also have to think about our savings and investments too. In fact, we also have to make a budget for a reserve fund or emergency fund which we can collect slowly every time we get income.

You are right that without having a stable income it will not be possible for us to be able to manage our expenditure budget, so having a stable income will make it easier for us to manage our expenditure budget. Being able to group together our needs and our desires will be very good for us in managing our finances because if we cannot differentiate between these two things it will be very difficult to avoid excessive spending. If we can manage our expenses well, it will make it very easy for us to save and invest so that we can get profits from these investments.

The problem is also with other people who already know that their source of income is not enough; they still have expenses. Because they may think they have an alternative to their expenses through borrowing or whatever reason.

i understand this and might be guilty of such mindset at times i’ve tried going a day without holding my wallet but still end up spending because in my mind, i do have money and i will always have money even if i might not know where to get that money from

it’s something I’m working on and reading through this thread has helped me gain some insights hopefully i can learn to be more disciplined and lessen my expenses