Are you a budget conscious person or not?

@joyce959 (1562)
Philippines
March 18, 2007 3:00am CST
Do you budget your money / earnings or are you the type who spend on anything that you like even if it is beyond your earning? I am not a budget conscious person. I am an impulsive buyer. I sometimes buy things that I really like to possess even though they are not really necessary and more often I tend to over spend. There are times that an unplanned occasion occur, and when I have no available cash, what I do is use my credit card for that occasion. My thinking is that, money can be earned, but I can not go back to those special occasions again. But I notice that this has some fall out on me because I have problems when bills start to come and I don't know how could I settle the bills. More often it gives me headache. What about you, do you always budget your money or are also like me? How do you cope up with your bills?
4 people like this
23 responses
@raijin (10373)
• Philippines
18 Mar 07
I always try my best in doing it so, but with the money in my pocket, I just can't resist spending it too soon. I spend most of it on things that I am fascinated of, like clothings and accessories(silver, for that matter). Also I have vices that I cannot stop which makes me spend more from it, like smoking and drinking along with my friends during weekends. I just can't help and control the money that's coming right through my hands, I guess I have to get more focused on it and try to maintain my lifestyle..
@joyce959 (1562)
• Philippines
18 Mar 07
That's right...some of us are impulsive spender , impulsive buyer. At least when you buy things u can see where your money went through. But in vices like smoking and drinking, I dont know what benefit you get out of spending your money for that. Thanks for responding and Happy Posting!~
• China
19 Mar 07
I suggest that you deposit a small amount of income each month and invest it in the stock market.Before long,you will find that your money is growing. You cannot spend all your income.Savings can be used for emergency. Charles Qin www.partyapartyb.com
@meljessxena (2317)
• Australia
18 Mar 07
in a way i am, then in a way im not. i guess. well i have a limit each fortnight that i can spend and well i usually dont go near the limit. but i do have to make sure i keep note what i spend. and my bills always come first out of the money before i do any shopping etc. and i use to waste my money on junk but im slowly getting better as im trying to save for a holiday.
1 person likes this
• China
19 Mar 07
I save a sum of my income each month and invest it in the Chinese stock market.Last year,I bought A shares with RMB 50000 and now the sum is worth almost RMB 100,000 in one year's time.Of course,it may become less than 50000 when the stock market goes down,but I have the chance to double my original investment in a year if I sell it all now. I think that for oridinary people savings are always necessary and that investment is more important.You just cannot spend all your money. Charles Qin www.partyapartyb.com
1 person likes this
@palpalsky (900)
• United States
19 Mar 07
well iam the combination of two ..atimes i do make budgets for things attimes ..i just dont care ..however i never overspend and i make sure iam looking my pocket while iam spending money .
1 person likes this
19 Mar 07
I have always been a budget person.Somehow the thought that all the monye I have will be over terrifies me.I always like to save money.I used to be an impulsive spender when I was still in school.My parents gave us pocket money but even then,I would save a majority of it.I hate to think that I have to pay interest for the credit card. I do buy things that catch my fancy more than whether they are useful to me or not.But call it wisdom that age bestows,or whatever,I tend to think literally 10 times when I want to buy something on impulse now.I guess when you start getting into your 30s,start having a family,then things do change and atleast some of us change our impulsive ways.More often because you donot want to be bogged down by all those bills.I hate to see outstanding bills,and pay my bills on time.When I go shopping,I make a list of what I want to buy.Buying clothes is a different matter and I generaly take good care of my clothes too.so I don't mind buying expensive clothes once in a while. I think that spending money on buying impulsively does not bring any "exclusiveness"to the occasion.It is more like how you think-spending more moeny and buying things satisfies you.That is why you think of them as special occasions.I would have thought the same if I were in your shoes.I guess it depends on our attitudes.
@navinshan (3940)
• Canada
19 Mar 07
I am not a budget conscious person, but this year i have taken a new year resolution that, i would not spend money unncecessarily, and started to save my money. Intially i found it really hard to manage my weekly budger, but as time went on i really learned some good steps for efficient budgeting, and moreover i have stopped using my credit cards for the time being and use debit card and paypal instead, this has further helped to stick to my bills. moreover i buy the groceries by looking at the flyers that are new ever week and pick and choose the best and less costly from different stores, since some stores . would have some items at a less price and other at a higher price. when bills generally come around some time next week and also they give about two weeks time to pay them off, so i don't have any problems with the bills.mostly i try not to use my credit card for awhile since when ever i used them and forget to pay back, i really seem to have a lot of stress when i remmember them after the due date.so, this way i manage my budget for this year, but if i am able to save considerably then i would continue to use my budget system for the upcoming years as well.
• United States
19 Mar 07
I budget because I have a plan not only to be debt free but financially successful with my own business, a ranch and the ability and freedom to travel first class and stay in four star hotels. My father used to be very wealthy and I enjoyed that and I want to be there again. I'm not obsessed with it but I am planning for it and I intend to achieve my goal. Don't get me wrong, I don't plan to be wealthy just for me. I want to be able to buy my parents a house, pay off my sister's house for her, help my brother and his wife get a new, larger house and get a place for a couple of close friends who are struggling. I also intend to give quite a bit to my church and other ministries I trust and support. And, I plan to invest enough to allow me to remain financially stable.
1 person likes this
• United States
19 Mar 07
Hi Joyce, I am new here, but I want to let you know that you are not alone! I too have noticed that I spend way too much on certain things(my favorite being bath and body items) But I do cut back on other items such as clothing and eating out. This has become very helpful in managing my budget. Hope this helps a little!
1 person likes this
@drd_ebiz (82)
• India
19 Mar 07
absolutely...i am a budget conscious person NOW. U know i still repent, had i been like this say from last 15 years, i wud have saved quite a lot ...wudnt have faced sme of the prblm i frequently face....I guess all ppl needs to b thrifty, ...just as they say "every penny saved, is a penny earned"...thanks for raising a very good question...
@kelly60 (4548)
• United States
19 Mar 07
I have always been one to budget my money although I will admit that every once in a while I feel the urge to go on a spending spree, and get carried away spending more than I should.
1 person likes this
@ma_lorena (178)
• Philippines
19 Mar 07
yes i am a budget conscious person. i am a mother and in todays standard of living here in the philippines, it needs a lot of effort budgeting coz of the high price of almost all of the commodities. i dont want to take the risk of nothing to be spent in times of emergency. i buy first those that are needed most.
1 person likes this
@twilight021 (2060)
• United States
19 Mar 07
I would say I'm a budget person. I am currently saving for a few large scale goals, so that motivates me to be more careful with my money. But I know myself, and I plan ahead for any weakness I may have in sticking to my budget....so I try to budget in a little "fun money" each month. It's not a lot, but just enough so I can treat myself to something nice (fancy soap or yarn for knitting). I may not even always use it. But knowing it's there and budgeting in "treat moneyy" helps me feel like I am not depriving myself of anything, and that's key for helping me stick to my budget.
@ipodbaby (53)
• Philippines
19 Mar 07
I may say i am "so-so" compulsive buyer. If i have limited bill in my wallet, i know how to control myself in buying. But when i have like a closer to generous amount of money, i buy everything that i want. Only, i tend to buy those stuffs that are not necessarily needed and thus, spending half of my money to waste. As for using my money for occasions, I am more of a traveler than party-goer. And yes, I'd rather spend too much for my travels than spending much on wardrobes. I am more enthusiastic when i get to travel to some places i've never been before than to get a full cart of shopping bags.
1 person likes this
@venshida (4837)
• United States
19 Mar 07
I never use to budget. I lost my job, and now I am making much less than I made before. I now go by a budget. I have a lot of credit card debt. I am trying to work a part time job to eliminate them. I now have headaches like you just thinking about them. Everyday, I think about refinancing my house or getting one of those home equity loans, but the interest rate I have now is 4.75%. I am afraid I wont get that interest rate again. I would advise anyone to live below your means, and always have a savings for emergency. A budget is a necessity.
• Philippines
19 Mar 07
I am a budget conscious person and an impulsive buyer at the same time. As a budget consious person, I also call myself impulsive buyer because sometimes I buy items that I dont need that much, or have already. But I try my best to be really reasonable on my purchases. I save and save and save so that when I like something, I can but it with confidence because I already did my saving first hand.
• United States
19 Mar 07
I try to make lists and stuff. But truthly I end up being more of impulsive buyer a times. Then I deal with it afterwards how I am gonna pay. I tell myself to stay away from certain areas but I still go. The dollar section, the cheap movies, and all that crap. I do make a list when I go to the store but often I do not keep it. I need to be better at this truly I do.
1 person likes this
• Philippines
19 Mar 07
budgeting is a necessity, however much your earnings is. i'm normally a budget conscious person. having known the value of hard earned money at an early age and living in a big family where extravagance is very rare. we had to prioritize expenses by the level of importance and urgency. however, it's also nice to give in to a little extravagance that you can justify when there's money left over. a little happiness for all the belt tightening that we do often. managing our money well is a discipline by itself. i've learned that we should also budget for unforseen events, emergencies or unexpected expenses which is equivalent to 25% of our annual income or 3 months worth of salary. how long you could save up to that emergency fund, depends on cash flow and your capacity to discipline yourself. It's not bad to splurge sometimes coz we don't want to take for granted the little pleasures we can have and give to others. however, not too much. we have to keep it in a manageable level. :)
@khalablue (309)
• Canada
18 Mar 07
For the most part I spend money on only tose things that I need. For some reason, I do not have a need to possess things that have no practical value. I can go into a store and look at something that is truly beautiful, but I do not feel that in order to appreciate its beauty that I need to own it. As a result I do not need to budget my money. I use a credit card for just about everything that I buy and I pay off the balance every month. I have never lost a moment's sleep trying to figure out how to pay my bills, because I do not spend in excess of my income.
@kgwat70 (13396)
• United States
18 Mar 07
I am pretty much of a budget person as I am careful with what I spend my money on and how much I spend on particular items. I try to make sure I put some of my earnings into a high interest savings account so I can make interest off it. My dad taught me about saving money when I was a child for emergencies and I still try and save portions of my earnings from here or other online sites.
@manong05 (5029)
• Philippines
18 Mar 07
I don't consider myself a budget conscious person in terms of saving, planning and deciding what to buy beforehand. I always find myself buying things that I've never planned to buy. I like enjoy going to thrift shops and stores with sales going on and hunt for bargains. At least this way, I know where my money went.
1 person likes this
• Canada
18 Mar 07
I'm not an impulsive buyer but I guess i'm not much of a budget person either. Whenever I see something I want, I don't care how much it is if i really want it but, I don't buy it right away. I save money for it.
1 person likes this