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Written by   261
2 years ago

"Do you always spend less, or can't buy the things you want and needs, or do you sometimes miss out on your friend's get together or hang outs because you are short on budget?"

Instead of sulking because you are haven't enough budget, why not study about budgeting. Perhaps others will think that it will only need to be learnt later when you are independent. But isn't it better that you learn it while it's still early.

It is better to learn it while you are in control of your parents, before being independent or experiencing the hardships of life. Because money is sometimes protective and if you know how to budget you will surely have self-confidence and your parents would surely be glad if you learn how to handle it properly.

What exactly should we learn about budgeting?

Have you ever asked your parents what your expenses at home? For example, your total monthly expenses such as, food, electricity, water, house rent or car expenses. If you are living with your parents, you should be included in the expenses and benefit from what you will learn in case you chose to be independent. It's good that you have an idea and listen to your parents when they are budgeting money at home.

What are the budgeting challenges?

You may think that it is easy to control spending. But the truth is that it is difficult to do, especially when you are still in with your parents, for example if they give you money or you already earning it,and sometimes you can spend your money wherever or whatever you want.

And one more thing, you enjoy spending right!

It is only natural that you want your friends to like and accept you. But ask yourself 'when I am with my friends, do I spend because I can afford it or am I just obliged?

Because we know that many people spend just to impress their friends and relatives. They impress others with the amount of things they have, instead of cultivating the good qualities that others will like. If that is your character then it can cause problems.

So,how to control budget?

Instead of wasting your money and salary on expenses you can bring enough money just for that hang outs or things you need to buy. And it can also be a habit to look for cheap prices where you can save.

Here are some suggestions on how to do budgeting...

  • Make a record and compare expenses or buy if it is enough for your income and budget for the next salary.

  • Avoid borrowing and not being able to pay right away, because you will only get worse when it overlaps.

  • Save money on investments, always secure information about money or investment especially if it is in the online business.

  • Do not trust lending money to people who do not have the capacity to repay it because in this situation you may be the one to lose when you need money.

  • Change the habit.If you are spending more than your budget and your debt is increasing, change your habits when it comes to spending money and learn to save.

Some others think theres nothing problem to worry on spending when you have a lot of money. But if you do not control it it can be bad for you.

Money is a big help if you use it correctly. In fact, money, earning and budgeting are an important part of many people's lives. But stay balanced because there are things that are more important than money. Family, relationships and health.

"A person without control over spending is like a blindfolded driver,"

[Disclaimer] I'm not an money expert or related into any money matters organization, this basic article about money budgeting was based on my idea, knowledge and experience.And hoping that it helps especially to those who's into this situation.Learning from experts and lisenced people still the best thing to have education about this matter.

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Written by   261
2 years ago
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Comments

Great article

$ 0.00
2 years ago

when i be a young, i always spend all my money, but now when i am old i learn to save some on a side

$ 0.00
2 years ago

Well thats a good move towards future.

$ 0.00
2 years ago

good advice...nice post! what tools would you suggest for keeping a record of your expenses?

$ 0.00
2 years ago

A simple notes or tally of daily,monthly expenses is enough to remind us to save and control expenses.

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2 years ago