SLC32-W2 || Real Life Problem Solving Challenge: Budget Planning
I don't think if there is anyone who would not like to have a budget plans on how to spend this days to avoid being broke. That is why we really need a budget plans to enable us cut down some irrelevant and unwanted expenses and to spend wisely on our income.
How do you plan your weekly or monthly budget? Explain well.
Before the week beings as I already know what I earn I will first of all bring out my booklet write down what I will needing for the weeks and also save some little money . This is how I have been planning my weekly and monthly budget and it has been a big help to me to save some money.
What tool or method do you use to track your expenses? Show at least one tool or method in detail with a selfie.
My selfie and my book to track down my expenses for the week
Writing down my budget and my expenses on a notebook then calculate the both, compare it to the previous old weeks and months to know if I'm spending much or less for the week and month..
What are the unnecessary expenses that affect your income? Explain.
The major things that affect my income and make me spend unnecessary is:
Data and recharged card. without data I can't access the internet or blog and also make calls with my phone.
Transportations. The cost of fuel in my country is one thousand two to one thousand five depends on your area which is about 15 steem so on a daily basis I spend much in transportation.
Unexpected incident like illness like pains
How do you save money from your income that will sustain you for future hardships?
My income that sustain me for future hardship is my little saving. I have a little saving card that I'm saving it's own by oto-abasi repayment card. It's a daily contribution where I'm marking and saving some little of amount of money which I use to collect from him every month and then save the money in to my account.
As you can see my little marking savings.
This has been a big help to me because I know it will be difficult for me if I'm to do it alone.
Have you ever created a budget that would improve your financial situation? Show us practically how.
| item | Amount |
|---|---|
| Food stuffs | 30,000 |
| Transportation | 10,000 |
| Miscellaneous | 15,000 |
| Bills | 10,000 |
| Saving | 30,000 |
Yes. Before I use to spend more than the income before the end of the month, I will become a debtor. Especially on buying some items that I don't really need just to make myself okay. But after some time I realized that if I keep on living this kind of life I may not survive the economy so now I have started making a budget I make sure I planned myself well starting from the first day of the week to the last .
What advice would you give to others for great budget planning?
My advice to people is that the world is not as it use to be before things are getting harder prices of commodities are high every day by day. If you want to survive and don't want to feel the hardship, you must make a budget plans on how to be using your income before the end of the month to avoid being broke.
And I'm inviting @okere-blessing @eveetim and @ruthjoe to Join me.
Thank you very much for presenting us a nice post where you have planned according to your salary budget.
I hope your implementation is well according to this budget, and will definitely improve if you continue accordingly.
A couple of things I noticed your photos are very blurry and can improve on them then I think the quality of your suffering will be better good luck
Okay thanks noted about the picture I will improve better next time.
I've always loved the contribution idea. It has helped a lot of people in my area to save money for big projects and for raining days. When they spend from their means, they save small until it becomes huge and they are disciplined because it's not them that holds the money. This your method will really help you especially in this era.
But a question.... What if something bad happens to the person getting these contributions and the money is gone? Do we say it's risky savings? 😁
Llevar un control de los ingresos y egresos permite tener un control con relación a la parte económica. Ajustar el presupuesto y evitar los gastos extras ayuda a formular un ahorro para los gastos requeridos en el futuro, bien sea por enfermedad o diferentes necesidades que se pueden presentar.