Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Mr. Allcrypto on March 11, 2024, 03:05:02 PM
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
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I always recommend it in threads dealing with personal finance. If you want to improve your finances, the first step is to control everything you spend and everything you earn, and that is done with a budget. From there you can reduce debt, if necessary, and save, and then invest. Many people would be surprised that millionaires actually use a budget, especially those who were not millionaires and became one.
A very positive aspect of budgeting is that when you start to control your income and expenses, you feel like your salary has been raised, without it actually happening. And when you get a raise in the future it will be better, because you will have been in control of your finances for a while and you will know how to distribute the money better.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
This is actually what is happening around here in my area because people on social media posted some food, new gears, gadgets, parcels, on party and any other lavish lifestyle but when you have to check on them they have nothing but to only survive the day. Though it's their decision that should be respected but unfortunately that is how they manage their finance.
I personally don't take loans unless I am in an emergency situation. I also don't like to spend more than half of my monthly income for my wants because I only prioritize my needs. I was once of those who wasted their money because of mismanagement that is why I took that as a lesson for me to be able to avoid that mistake ever again.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Setting your budget is spending below what you know you can afford. In an economy that is experiencing turbulence in economic problems, you need to find a level where what you earn should be enough to carter for things that you need. If there is food inflation, go for alternatives, it's not compulsory that you must consume a particular item, if you live large try and come below so that you can be able to continue in a longer term. When you comprise the way you spend in a difficult economy, in the long run, you might even touch your savings that are meant for important things or worse even touch your investments which you ought bit to do in the first place.
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Setting your budget also means putting your basic needs first before any other things, if you do not put your basic needs first you might spend the money on less important things, and it will drain your money ...
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Setting your budget also means putting your basic needs first before any other things, if you do not put your basic needs first you might spend the money on less important things, and it will drain your money ...
Yeah true that is why we need to set our budget so our money will be managed correctly and should be spent only to the most important priorities we have at home. Overspending is for me the new norm nowadays based on my observation here in my area the reason why most of us suffer hardships during pandemic and after the devastation of natural disasters like super typhoons. I personally have learned from that and I don't care if other people don't see that as a lesson because at the end of the day it is still their choice and decision.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Actually even if the economy is not bad yet we must put budget in everything we spending because not everyday is a good day.
Look at the Ants , who is gathering everything when summer so they will not starve when rainy day comes .
we Human must be as Ants perspective .
so My budget is enough to feed my family daily and we are having some good time together outside in weekends.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Obviously, there is hardly anyone whom is endowed with the ability to earn an income and doesn’t do some form of budgeting. Everyone has a budget eventually, that’s if you’ve got some job that pays regular wages. It’s either your pay is enough or not and in most cases, it’s not usually enough. The changing economy catches up to you eventually. You can’t completely get all your expenses into a budget, some things fall in between the lines, some friend might seek a helping hand and others might be unforeseen accidents or incidents.
The catch is,
Though these were out of foresight, it’s effect still could be minimized.
In having a budget, you plan to have some surplus to account for these unforeseen expenses. These would reduce the excesses that comes with expenses and that’s how you find yourself lost in budgeting and mostly not having to meet up with the excess. Even in that, you still have to try.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Actually,setting once budget give him a financial stability, because it helps someone to have a spending limit. Most people who don't set a budget spend extravagantly and most at times have financial issues or crisis. Setting budget makes one to have a good financial plan.
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Obviously, there is hardly anyone whom is endowed with the ability to earn an income and doesn’t do some form of budgeting.
It's more common than you think. You'll be surprised how some employees are constantly borrowing because they don't know how to set up a proper budget. Maybe they do but they do not have the discipline to strictly follow it. I've known of some people that keeps posting their expensive coffees and vacations on social media while still in debt.
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Obviously, there is hardly anyone whom is endowed with the ability to earn an income and doesn’t do some form of budgeting.
It's more common than you think. You'll be surprised how some employees are constantly borrowing because they don't know how to set up a proper budget. Maybe they do but they do not have the discipline to strictly follow it. I've known of some people that keeps posting their expensive coffees and vacations on social media while still in debt.
Haha you nailed it I have seen a lot of these guys on my soc med accounts as well. I wonder why they sent pm's to me asking for favor just to borrow some cash for their needs despite the fact that they have stable source of income. What is funny thing here is that it is for me not a "need" since they just wanted to initiate an extravagant birthday party and or they just wanted to pay their expensive parcel. I can even see they have huge amount of money from their savings intented for something important but unfortunately that money just pop like a bubble and now they are planning to get credit just to have a newer and advance smartphone again. Most of my 'hood here can afford to get debt after debt after debt I just don't understand how they do that and what is that for. I also observed that they are more dependent on the governments financial aid that is why some of them don't have plans to get proper job and save or even invest on something because they know aid will keep on coming for them. Budget is not an option for these kind of people that is why they are the most affected when it comes to crisis and inflation.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Improving your finance or setting a good budget can be factor,on how you control money you spend .
For you to have an improve finance, you need to have a limit of spending per day, per week and per month.
Certain budget improve the condition of living in any given society. So to me if you set your budget rightly you will not have any financial difficulties. That's my opinion.
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The initial stage in creating a budget plan is to determine how much you earn and spend. Begin by writing down all of your means of income, which involves your day job, any extra income from side works, and any other sources of money coming in. Then, make a list of all of your costs, including fixed expenditures like housing and utility bills, and variable expenses like food and recreational activities. Remember to include any outstanding debt settlements, such as tuition fees or credit card balances. Once the you have an accurate picture of you, can begin creating a budget once you have determined your earnings and costs. Splitting down your budget into sections might assist you avoid overpaying in any one area.
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Whether in a bad or stable economy, spending above your budgets on the aspects that doesn't bring forth profits has never and would never be a good courage because it would definitely affect your bankrolls.
Most at times we spends extravagantly simply because tomorrow is a promising day to refill our pockets again.
Such an expenditure system would definitely deprive us from growths and achieving great things. It would always end us regretting by the end of it at when we would see our fellows at a higher level while we remains below.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Setting a budget is absolutely necessary but in the current economic conditions it is not at all possible to work according to that budget. In my country Bangladesh, the economic condition and the price of daily necessities are so high that it is impossible to cover the whole month according to the budget with the amount of salary received at the end of the month. Therefore, no matter how much the budget is made, it is not possible to implement that budget. Moreover, the amount of inflation has increased so much that it is not possible to buy those daily necessities with the amount of money that goes to the market and makes daily necessities. So no matter how much we try to implement the budget in our country, it is not possible.
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Yes, you are right, @OP. Budgeting is a very vital spending habit to be cultivated. I don't use to forget one very topic I learned during my junior secondary school days on a subject called "home economics." The teacher made me understand the importance of making a budget and also spending wisely by focusing on fulfilling the primary needs first before going for secondary needs, because if a person spends on secondary needs, forgetting the primary ones, they will still have to fulfill the primary ones because they will get more demanding. If, by chance, the person spends all their money trying to fulfill the less important stuff, they will have financial difficulty at that moment. So, budgeting is very important because it will help you analyze the things you want and how to spend the money accordingly.
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Yes, you are right, @OP. Budgeting is a very vital spending habit to be cultivated. I don't use to forget one very topic I learned during my junior secondary school days on a subject called "home economics." The teacher made me understand the importance of making a budget and also spending wisely by focusing on fulfilling the primary needs first before going for secondary needs, because if a person spends on secondary needs, forgetting the primary ones, they will still have to fulfill the primary ones because they will get more demanding. If, by chance, the person spends all their money trying to fulfill the less important stuff, they will have financial difficulty at that moment. So, budgeting is very important because it will help you analyze the things you want and how to spend the money accordingly.
Yes it is good to set our budget, so that we can be able to differentiate between our needs and wants l, and also setting our budget helps alot in achieving plenty things, instead of spending your money no things that are not adding to you then with the help of your budget you can be able to achieve your needs first l
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
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What do you think about setting your budgets?
It should be a common practice for everyone. Setting up our own budget can help us to lessen the stress we can get from work and any other activities we do in life. It is also a simple strategy to avoid any difficulties in our financial status. Spending any more than the capabilities of our budget will indeed make us end up in huge debt.
Like the people I often see whom they choose to show up the new things they bought, like showing to everyone that surrounded them they can purchase anything they want. Even if the money they use to purchase things is coming from debt, they don't care and think of it as long as they can continue this kind of activity.
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In our current reality, spending without a budget is like living without a plan or blueprint. Remember he who fails to plan, plans to fail. This becomes a case of embarking on a journey without a road map and the outcome is simple, you will make no headway.
Setting a budget and sticking to the budget should be embraced in our daily lives. This will go a long way in serving as a shield to the untold hardship we are facing as a country. With a budget, you can follow your scale of preference but when no budget is set, then there will be no scale of preference too because both are like Siamen twins.
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
That is most likely what will happen or even has happened if we are not capable of budgetting our funds properly given that inflation is high here in my country I should be setting it all since I have already learn from it in the past that when crisis came we are left unprepared because we don't set our budget and don't even have emergency funds when worst case scenario will come.
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At this time when the cost of living is at an increase, it will be damn right for one to learn how to cut down their weekly or monthly expenditures and set the budget that will begin to fit in on how their basic needs will be met so that they won't end up borrowing money to sort out themselves on feeding and their family.
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What do you think about setting your budgets?
You may set a budget and never stick to it because you lack the discipline to do so. Aside from setting a budget, there is a need to be disciplined about sticking to it because budgets do not work unless you make them do.
After setting your budget, make sure to avoid people who make you forget your financial goals and spend above your means. Avoid people who are more interested in spending than in earning.
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What do you think about setting your budgets?
You may set a budget and never stick to it because you lack the discipline to do so. Aside from setting a budget, there is a need to be disciplined about sticking to it because budgets do not work unless you make them do.
After setting your budget, make sure to avoid people who make you forget your financial goals and spend above your means. Avoid people who are more interested in spending than in earning.
Exactly! Very accurate answer for me. Discipline really plays an important role in every aspect as it will reduce our bad habits and greediness. As we can see rich people have that compared to those who have only enough just to survive. Mindset and discipline plus your budget will be a perfect weapon to defeat financial hardships.
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Already wrote in some topic, I will share my experience here.
Learn to MANAGE your money. To do this, you need to realize 2 key mechanisms:
- accounting
- planning
Accounting is a somewhat formalized task where you record ALL of your income and expenses, preferably by "cost/item/income item", with time stamps
Planning is a solution based on expenses/income of previous periods, plus calendar planning of income/expenses, for the next period (month/quarter/semester/year/year/...).
This will allow you to optimize your expenses, to avoid the condition called "cash gap" (not sure if I'll get the name right in English, but I hope so :) ), which will eventually allow you to move to the stage of accumulation and/or investment of free funds. Or it will show that you should work harder and spend less, as your expenses regularly exceed your income.... But this is also a good indicator, at least you will understand WHY this is the case
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
Yeah I agree! I think most of us has experienced this thing in the past but as time goes by we have already learned from it. We all know how annoying it was when you are facing the groceries in front of you but you forgot what you are gonna buy and that was a mistake since you might bought something you didn't need and even stay in the area just roaming around hoping you can remember the things you needed. Not only it cost you a lot of time but also you might overspend for something unimportant. That is how important to set our own budget on specific things we need so we must have list of it so we spend no more no less.
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What do you think about setting your budgets?
It's very important, that surviving in a country with high inflation depends on your budget you will be on a losing end if you spend more than what you can afford to earn It is important to list or track your expenses and avoid loans even if you are earning more you have to be tight on your budget and set aside money for savings, because we never what will happen tomorrow.
You will expect the unexpected in this life.
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You can never manage your life with a fixed budget because suppose you run a business and suddenly your business loses. Then your body can get sick in different ways then you will spend more money than your budget. But we should develop stability by homogenizing income and expenditure. You should keep some extra funds and compare your daily living expenses with your income. Your statement is also correct that there are many people in the society who spend more than their income. But spending in such a way will cause a lot of crisis in your money which is not a good development at all.
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What do you think about setting your budgets?
Right now, I consider budgeting as a skill that I must have because of how helpful it is not only when it comes to investing, but in our personal lives as well.
As of this moment, I'm still having a hard time budgeting my monthly allowance, and I guess I'm fortunate that my partner is very good at it hence, she budgets our monthly salary.
Budgeting really is an important skill that everyone, or at least one of the couple must learn because you might not notice, you might spending way more than what you're earning on a monthly basis. I've seen people here in our community that doesn't know about budgeting and what happened to them? They're having a hard time saving, and sometimes, they're asking for a loan with their relatives.
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What do you think about setting your budgets?
Right now, I consider budgeting as a skill that I must have because of how helpful it is not only when it comes to investing, but in our personal lives as well.
As of this moment, I'm still having a hard time budgeting my monthly allowance, and I guess I'm fortunate that my partner is very good at it hence, she budgets our monthly salary.
Budgeting really is an important skill that everyone, or at least one of the couple must learn because you might not notice, you might spending way more than what you're earning on a monthly basis. I've seen people here in our community that doesn't know about budgeting and what happened to them? They're having a hard time saving, and sometimes, they're asking for a loan with their relatives.
Yeah I agree. Budgetting is a skill that only few knows as we can see on social media where people themselves shows off things that they don't really need and important for them it seems that they just wanted to look smart and nice but in reality when you visit them persoanlly it's totally different because they have nothing and know nothing but spend their money indiscriminately that sometimes lead to getting loans just to fulfill their urge as materialistic people.
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We need to make budget in every economic planning or settings in other to come to the realization of achieving a set target or goals, this will help when we make budget because things will go on as expected and there will not be probably anything to be done left undone, budget will help us cut cost, manage resources, plan effectively and meet up with the target at hand over doing something.
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Now a days people’s Costing is more then income. It is bad financial system. So i think Budget is very important. So we have to more skilled in budget and it’s management.
If we were fail to proper budget then it will be very difficult to maintaining our family and our personal life. So everyone should experienced in budget.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
That's right and that has been the reason why people find it difficult to save money for future purposes because of lack of management and they don't have a budget plan. People spend above their income just as you said, which is very bad, most people do that because they want to impress other people, so they are living a fake lifestyle which they don't have enough money for that, while some, because of responsibility, they are spending beyond their budget and this can be cause by depending on only one source of income. So it's very essential for us to do within our reach, we should set or plan our budget rightly in order to also have savings for future purpose.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Yes, I agree that spending above your budget is bad for you that is why we need to learn how to set our budget for everyday expenses. Nowadays the cost of all products is getting expensive setting up a budget will help us to track our expenses and spend our money wisely.
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
Yeah I agree! I think most of us has experienced this thing in the past but as time goes by we have already learned from it. We all know how annoying it was when you are facing the groceries in front of you but you forgot what you are gonna buy and that was a mistake since you might bought something you didn't need and even stay in the area just roaming around hoping you can remember the things you needed. Not only it cost you a lot of time but also you might overspend for something unimportant. That is how important to set our own budget on specific things we need so we must have list of it so we spend no more no less.
Learning lessons from past mistakes mate , yeah have been in this problem for how many years but goodly that my Wife teaches me to list actually I even bring her most of the time in the grocery so I will never have an issue at any time.
though little by little i started adjusting and also tries not to bring large amount when going to grocery so I will be focusing in all important things only .
life is harder now not like in the past that I have large funds coming daily but now there is some financial issues that I need tofocus so limiting my expenses is really better.
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
Yeah I agree! I think most of us has experienced this thing in the past but as time goes by we have already learned from it. We all know how annoying it was when you are facing the groceries in front of you but you forgot what you are gonna buy and that was a mistake since you might bought something you didn't need and even stay in the area just roaming around hoping you can remember the things you needed. Not only it cost you a lot of time but also you might overspend for something unimportant. That is how important to set our own budget on specific things we need so we must have list of it so we spend no more no less.
Learning lessons from past mistakes mate , yeah have been in this problem for how many years but goodly that my Wife teaches me to list actually I even bring her most of the time in the grocery so I will never have an issue at any time.
though little by little i started adjusting and also tries not to bring large amount when going to grocery so I will be focusing in all important things only .
life is harder now not like in the past that I have large funds coming daily but now there is some financial issues that I need tofocus so limiting my expenses is really better.
Yeah women especially wives knows best on budgetting, they know what is best and what is not for the family that is why most of the time they are the one assigned to make the budgetting inside the household. Based on my observation with my mother they listed everything they need to buy in the market so they don't spend more on things we don't need as she tells us we should prioritize needs than our wants to save money.
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Whether in a bad or stable economy, spending above your budgets on the aspects that doesn't bring forth profits has never and would never be a good courage because it would definitely affect your bankrolls.
Most at times we spends extravagantly simply because tomorrow is a promising day to refill our pockets again.
Such an expenditure system would definitely deprive us from growths and achieving great things. It would always end us regretting by the end of it at when we would see our fellows at a higher level while we remains below.
I wish most people will be aware of this, because some people have this mentality to spend carelessly and say tomorrow will talk for itself and this have make a lot of people go bankrupt and poor in life, which will make them regret and I said " Had I know", so its very essential to always set their budget and avoid careless spending, because it can never yield any good things to us but rather it will bring more regrets and suffer and can even lead us to death. So no matter how sweet materials things are, we should never spend or do more than ourselves, anything excess is not always good and doesn't end well just like you said, let's act wisely and avoid embarrassment in the future.
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
Yeah I agree! I think most of us has experienced this thing in the past but as time goes by we have already learned from it. We all know how annoying it was when you are facing the groceries in front of you but you forgot what you are gonna buy and that was a mistake since you might bought something you didn't need and even stay in the area just roaming around hoping you can remember the things you needed. Not only it cost you a lot of time but also you might overspend for something unimportant. That is how important to set our own budget on specific things we need so we must have list of it so we spend no more no less.
Learning lessons from past mistakes mate , yeah have been in this problem for how many years but goodly that my Wife teaches me to list actually I even bring her most of the time in the grocery so I will never have an issue at any time.
though little by little i started adjusting and also tries not to bring large amount when going to grocery so I will be focusing in all important things only .
life is harder now not like in the past that I have large funds coming daily but now there is some financial issues that I need tofocus so limiting my expenses is really better.
Yeah women especially wives knows best on budgetting, they know what is best and what is not for the family that is why most of the time they are the one assigned to make the budgetting inside the household. Based on my observation with my mother they listed everything they need to buy in the market so they don't spend more on things we don't need as she tells us we should prioritize needs than our wants to save money.
I agree that women make excellent housekeepers, but most of them are poor managers outside of the home. Some women can not run a business which implies a failure in budget as regards to business. I have a case at hand. There is a man in my neighborhood who owns a supermarket, and every time you go there, you see him and his wife, so I assumed that the person's success was due to the fact that his wife was always present, but my assumption was incorrect when the man opened the same business for his wife.
Surprisingly, the business did not last six months. The shop is currently closed. My argument is that women are better at managing their families than men, but men are better managers in business.
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
Yeah I agree! I think most of us has experienced this thing in the past but as time goes by we have already learned from it. We all know how annoying it was when you are facing the groceries in front of you but you forgot what you are gonna buy and that was a mistake since you might bought something you didn't need and even stay in the area just roaming around hoping you can remember the things you needed. Not only it cost you a lot of time but also you might overspend for something unimportant. That is how important to set our own budget on specific things we need so we must have list of it so we spend no more no less.
Learning lessons from past mistakes mate , yeah have been in this problem for how many years but goodly that my Wife teaches me to list actually I even bring her most of the time in the grocery so I will never have an issue at any time.
though little by little i started adjusting and also tries not to bring large amount when going to grocery so I will be focusing in all important things only .
life is harder now not like in the past that I have large funds coming daily but now there is some financial issues that I need tofocus so limiting my expenses is really better.
Yeah women especially wives knows best on budgetting, they know what is best and what is not for the family that is why most of the time they are the one assigned to make the budgetting inside the household. Based on my observation with my mother they listed everything they need to buy in the market so they don't spend more on things we don't need as she tells us we should prioritize needs than our wants to save money.
Though not all wives are like that but at least most of them have this knowledge and characteristics that will help each family grow if the Husband will only support their wife's plans and budgeting .
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We recommend the popular 50/30/20 budget to maximize your money. In it, you spend roughly 50% of your after-tax dollars on necessities, including debt minimum payments. No more than 30% goes to wants, and at least 20% goes to savings and additional debt payments beyond minimums. We like the simplicity of this plan.
https://www.nerdwallet.com/article/finance/how-to-budget#:~:text=We%20recommend%20the%20popular%2050,the%20simplicity%20of%20this%20plan.
at least these says a lot of we can only apply this in lifetime(not just for dollar earning people but for all the world)
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Everyone should really set the budget. A list of what you need when you go to grocery can be really helpful, so you can just get what you need. The same thing with other things. Because if we won't set it then most probably we will reach out to some lending apps and will be in debt. That's very frustrating
this is my biggest problem in the past , that we are going in grocery without the list and yeah just taking this and that we think needed and ending this as? spending so much even those things that we don't needed in time.
this is why since then I required my why to put a list about those items we need in that certain week , because that is the real budgeting that we are now saving a lot of money for weekly spending.
Yeah I agree! I think most of us has experienced this thing in the past but as time goes by we have already learned from it. We all know how annoying it was when you are facing the groceries in front of you but you forgot what you are gonna buy and that was a mistake since you might bought something you didn't need and even stay in the area just roaming around hoping you can remember the things you needed. Not only it cost you a lot of time but also you might overspend for something unimportant. That is how important to set our own budget on specific things we need so we must have list of it so we spend no more no less.
Learning lessons from past mistakes mate , yeah have been in this problem for how many years but goodly that my Wife teaches me to list actually I even bring her most of the time in the grocery so I will never have an issue at any time.
though little by little i started adjusting and also tries not to bring large amount when going to grocery so I will be focusing in all important things only .
life is harder now not like in the past that I have large funds coming daily but now there is some financial issues that I need tofocus so limiting my expenses is really better.
Yeah women especially wives knows best on budgetting, they know what is best and what is not for the family that is why most of the time they are the one assigned to make the budgetting inside the household. Based on my observation with my mother they listed everything they need to buy in the market so they don't spend more on things we don't need as she tells us we should prioritize needs than our wants to save money.
I agree that women make excellent housekeepers, but most of them are poor managers outside of the home. Some women can not run a business which implies a failure in budget as regards to business. I have a case at hand. There is a man in my neighborhood who owns a supermarket, and every time you go there, you see him and his wife, so I assumed that the person's success was due to the fact that his wife was always present, but my assumption was incorrect when the man opened the same business for his wife.
Surprisingly, the business did not last six months. The shop is currently closed. My argument is that women are better at managing their families than men, but men are better managers in business.
Well yeah maybe not all women are good at it because I remembered the situation of my friends wife where they got a loan money of like more or less $600 from his husbands lending account here in my place but that doesn't goes well for them because the money was all gone without the husband knowing where it all goes as that money was intended for the renovation of their house but ends up nothing and take note that was a loan money. From that incident their relationship became sour and ugly.
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We cannot be operating a financial economy without making an effective budget plan on what we should do with the flow of income we are having, because on every money we are unable to account for equally defines such fund is being wasted by us, we must learn to engage a modest way of managing the resources we have and this will help us in many ways towards achieving the sustainability to what we are doing.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
You cannot just say "IN BAD ECONOMY" because even in good economy we must not spend more than what we really needed (not in luxurious ways)
We are blessed like good paying Job and also a passive income in crypto holding but that does not give us reason or authority to be expensive .
Life needs food ,shelter/clothing and car if we have all those then the other income should be in other investment and savings because life cannot assure us tomorrow .
we should be prepare in everything that will come along the way.
We cannot be operating a financial economy without making an effective budget plan on what we should do with the flow of income we are having, because on every money we are unable to account for equally defines such fund is being wasted by us, we must learn to engage a modest way of managing the resources we have and this will help us in many ways towards achieving the sustainability to what we are doing.
spending in proper way is not wasting , but spendingmore than what we really need is wasting .
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Elders say spend your income wisely. Today's people are mostly middle class and their income is limited, but they forget their financial status while taking a shot at the upper class of the society. For this they resort to debt again and again.
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Elders say spend your income wisely. Today's people are mostly middle class and their income is limited, but they forget their financial status while taking a shot at the upper class of the society. For this they resort to debt again and again.
Adults knew what's best but not all of them while younger generations don't have that much of an idea to save and spend wisely because based on my observation here in my place people tends to spend their hard earned money indiscriminately into something unimportant though it is not my business anymore but sometimes they will approach and take the chance to borrow and they keep on doing that over and over again and I just don't understand why.
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Yes, I agree that spending above your budget is bad for you that is why we need to learn how to set our budget for everyday expenses. Nowadays the cost of all products is getting expensive setting up a budget will help us to track our expenses and spend our money wisely.
Budgetting is really hard to practice these days because everything is now expensive that what we do spend a week can barely last for some days now and that's because of general inflation, food inflation and hard policy enforcement which is affecting everyone. The only way to keep up with this is to also increase the amount you earn by doubling the husle.
You can't be earning a $500 a month and the cost of your basic bills like the electricity, water, food be $300 and then you want to be spending just $100, that's not budgeting but suffering and you can't sustain that in the long run. The key to successful budget is increasing source of income to match the current state of the economy.
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The only way to keep up with this is to also increase the amount you earn by doubling the husle.
unfortunately this is what our world has come to
if you could find a much better paying job then that is what would be best for you and for your family
The key to successful budget is increasing source of income to match the current state of the economy.
you do not have to work two jobs imo one stable job with a good stable passive income will be ideal have a day job and also have a business that can run without much maintenance and management from you
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Life is all about budget and if we want to make any milestone achievement in life, then we may have to work by budget because this will ultimately be like a guide on what and when to do something, without have a budget in place, then that also means there is no plan on ground, which may affect the things we may set to go after, making a budget will help know the cost for doing something and prepare well over it by working basically as according to what we could afford.
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The only way to keep up with this is to also increase the amount you earn by doubling the husle.
unfortunately this is what our world has come to
if you could find a much better paying job then that is what would be best for you and for your family
The key to successful budget is increasing source of income to match the current state of the economy.
you do not have to work two jobs imo one stable job with a good stable passive income will be ideal have a day job and also have a business that can run without much maintenance and management from you
Yeah nowadays its is so hard to earn and save money because of inflation where products and services are costing high and salaries are low that's why setting up a budget can be tight but still, we need to practice because if not our money will be gone and will not be spent on something that is essential in our daily survival.
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
One mistake people make especially when they make their first millions is that they immediately want to buy everything they have been wishing for and live extravagantly forgetting that the resources they have can be exhausted. You can't have a million naira and try to spend like someone who has 20 million naira, mostly in Nigeria people do this just to impress others. Setting a budget and saving up are things that can save everyone right now with the way this economy is going
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
One mistake people make especially when they make their first millions is that they immediately want to buy everything they have been wishing for and live extravagantly forgetting that the resources they have can be exhausted. You can't have a million naira and try to spend like someone who has 20 million naira, mostly in Nigeria people do this just to impress others. Setting a budget and saving up are things that can save everyone right now with the way this economy is going
That scenario is quite common and is also happening here in my country. I personally knew people who end up committing suicide because of what had happened to him after he spent most of his money in a lavish lifestyle. That is why to avoid such misery I think it is a must to set budget in everything we wanted and instead prioritize needs.
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That scenario is quite common and is also happening here in my country. I personally knew people who end up committing suicide because of what had happened to him after he spent most of his money in a lavish lifestyle. That is why to avoid such misery I think it is a must to set budget in everything we wanted and instead prioritize needs.
If there's anyone that doesn't set a spending budget, it's someone that has a couple dozens of passive income and also other investments/streams of income that is constantly generating a huge sum of money that they can not even spend but for someone that is earning just little or medium revenue, such person must learn how to set spending budget and should also have record for how they spend their money. Anyone that doesn't have a spending budget will end up spend even on the unnecessary things.
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Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending
We should all learn how to set budget honestly because setting a budget helps you keep track of your money and also prevents you from spending more than you earn. It is like a plan that shows you how much you can spend on different things every now and then. Without a budget, it is easy to spend too much and end up in debt or having no savings ahead of emergency situations, so by sticking to a budget, you can stay in control of your finances and also avoid financial trouble, especially when times are rough and tough.
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Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending
We should all learn how to set budget honestly because setting a budget helps you keep track of your money and also prevents you from spending more than you earn. It is like a plan that shows you how much you can spend on different things every now and then. Without a budget, it is easy to spend too much and end up in debt or having no savings ahead of emergency situations, so by sticking to a budget, you can stay in control of your finances and also avoid financial trouble, especially when times are rough and tough.
Yes budget setting is very implement in cryptocurrency market. Without proper planning of budget set we couldn’t successful in this market.
We know budget is very implement. Big big company prepare his company budget by appointing a officer to do? I strongly believe to make proper budget anyone can study more and more. Any Financial organisations success depend on proper planning and Budget is part of that's planning..
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Spending above your budget in a bad economy is not good for your financial stability, rather it can affect you financially. Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending and at the end of the day, they spend more than their income, making them to take loans and go to bankruptcy.
What do you think about setting your budgets?
Setting a budget is paramount for managing business or personal finance properly. Base on the economy it gives a clearer picture of how to properly track your income and your expenses, as to allocate resources wisely to help to enable one save for the future or for the raining days ahead . Budgeting help one to build financial discipline and it helps someone to again control over his finance. So budgeting is needed at this time when the economy is biting everyone, one always need to budget whatever incomes that comes to their hands hands. My candid opinion.
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Many people set budget to meet up, to ensure that the, don't mismanage funds, but in our society today most people go through financial difficulties because they fail to set budgets for Spending
We should all learn how to set budget honestly because setting a budget helps you keep track of your money and also prevents you from spending more than you earn. It is like a plan that shows you how much you can spend on different things every now and then. Without a budget, it is easy to spend too much and end up in debt or having no savings ahead of emergency situations, so by sticking to a budget, you can stay in control of your finances and also avoid financial trouble, especially when times are rough and tough.
Record keeping can also be quite an effective way to manage your personal finances, while budgeting can be a great way to regulate how much you spend on a particular expense, record keeping can be a more effective way to track your previous expenditures, thereby helping you to know exactly how much you need to budget on a particular expense. When you fail to record your previous expenses, there’s every tendency of over budgeting or budgeting less money on an expense since you don’t have the accurate information on the previous expenditures. But when your record your previous expenditures, you’ll be able to know where you spend more or less, and then help you make a more accurate budgeting.
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Yes budget setting is very implement in cryptocurrency market. Without proper planning of budget set we couldn’t successful in this market.
We know budget is very implement. Big big company prepare his company budget by appointing a officer to do? I strongly believe to make proper budget anyone can study more and more. Any Financial organisations success depend on proper planning and Budget is part of that's planning..
Indeed. To set the right budget is very important, it is the way to use effectively our money. If we don't have a good way in managing our budget, we may waste money only in crypto. If we waste money, there is no way to succeed in crypto, both in trading and investing. However, to know how to set the right budget, we must learn how money management in investment/trading. We must find out some trustable sources to learn about it. If we have mentors, it will be good but it is not a must. If we have no mentors, we can learn money management with self-taught.
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Yeah it is very important to have a budget on how to spend. Some people for example me I don't know how to manage my finances I spend lavishly even when I have set a budget so at this point I don't know which step to take anymore, I would really need your thoughts guys. Thanks.
Ok talking about setting a budget yeah you might set a budget and still exceed your budget depending on the economy of your country. In a country where by things and prices of goods are not stable it would be really hard to have a trusted budget.
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Setting your budget also means putting your basic needs first before any other things, if you do not put your basic needs first you might spend the money on less important things, and it will drain your money ...
it is very important to think collectedly before planning a budget and make important and useful things your priority, i.e foods, education, healthcare, home maintenance and repairs, transportation and so on. It is important to set a budget to minimize your spending and managing your income, it also maximize and promote your savings. budgeting gives the ability to supervise and record the income of expenses of an individual, it helps someone to fulfill and achieve their financial goals. A proper plan budget facilitate debt reduction, it eliminates stress and promotes confidence in decision making.