How do you budget your money?

Philippines
April 2, 2008 1:07pm CST
It's always a problem for each person on how to arrange their expenses daily or monthly. In fact, it's one of my problems everyday, I'm targetting to have some savings so I could have a business capital that I can start in the future, but the problem is because of inadequate knowledge and discipline to budget earnings... it became difficult to have a consistent savings monthly. DO you have any tips on how you budget your money and make some savings?
4 people like this
7 responses
@nicholejade (2430)
• Canada
2 Apr 08
I am lucky on budgeting my money. I am an accountatnt/financial advisor. So it does help me out alot in the long run. First take all your bills add them up etc. Add all the money you have coming in from the net, work etc. Take all your expenses you have in a month. (ex. phone, cable, internet etc) Put away what you need each month on bills each month. Take a few dollars and put it away. Well this is just basic. I would need to see what you make your bills to give you a payment plan and how to budget your money. But I am sure you get the jist of it.
3 people like this
• Philippines
19 Apr 08
thanks for a very informative answer... that would help a lot and I'm still interested on how do effectively plan your budget.. hope you can site an actual example.
1 person likes this
• Canada
21 Apr 08
All you have to do is give me the lowdown and I can come up with a plan.
1 person likes this
@daababy (219)
• United States
3 Apr 08
Buy best vaule when it comes to food.. you will save a alot.
2 people like this
@TinaP40 (329)
• Spain
2 Apr 08
Really badly unfortunatly but I am getting better over time and have to be really strict!
2 people like this
• United States
2 Apr 08
When I budget, I always put the first, most important expense up front, that is my rent. Then, I will budget for any other debts I have. Next, I will budget for food and utilities and car expenses. The rest can be considered discretionary, though I include medical expenses in that group because they are usually not a regular expense or can fall under the debt categories. But this category is usually where I can make cuts if I want to save money. Clothes, internet, eating out, etc, can all fall under this category.
@miller1978 (1104)
• United States
2 Apr 08
I sit down at the beginning of the month and figure out our monthly bills, prorate the monthly earnings then form a week by week payment calendar. On that calendar instead of putting anything related to savings we mark down "Bank" on our calendar where we have to put so much money in every week. Ours varies every week depending on what bill we have to pay and what necessities we have to buy. Another thing is we keep one book to let us know how much is in there but we never look at it unless we are adding our newest deposit into it because I don't want to be tempted to take the money out. It's hard to do at first but it's well worth the time and will save you money for quite a long time.
2 people like this
@bellelady (264)
• Philippines
3 Apr 08
i tried to make a list of everything that i need then i also list my expenses. but sometimes when i go to the mall i somehow splurge into something and my budget is affected..
1 person likes this
@pumpkinjam (5800)
• United Kingdom
24 May 08
I am very good with money. I have to be because I have never really had any! I know all the regular bills that I need to pay and will make sure there is the right money in the bank to pay them. Then I will prioritise other things. We buy much of our food and groceries from "budget" shops or get the shop's own brand where practical. We have very few luxuries, we don't own a car. Basically, we have tv and internet. We do not go on holiday and have no intention of doing so until we have paid off debts and saved enough money that we will have it spare. I write down everything I spend money on so that I know exactly how much has gone and how much is left. If you have enough money to pay every day expenses plus enough left to put in savings then that is excellent and you should put as much away as you can, even, if possible, having two seperate accounts, one for "emergencies" and one for saving towards a particular thing. For you, that would be saving until you have the capitol to invest in business. If you keep an accurate record of everything you spend (I mean everything, even if it's a pint of milk or a packet of sweets) then you will be able to see where you are over spending and how much you can save by cutting down on certain things.