Set your budget.

[Dr.Bitcoin_Strange]

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. 

[Mr. Allcrypto]

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

[SunflowerBaby]

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

[DabsPoorVersion]

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.

[DragonF]

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.

[0t3p0t]

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.

[JoyMarsha]

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.

[Rruchi man]

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.

[0t3p0t]

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.

[DrBeer]

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

[bitterguy28]

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.

[0t3p0t]

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.

[robelneo]

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.

[albon]

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.

[LogitechMouse]

~
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.