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.