How I Make My Budget

Budgeting for something cannot be successful without appropriate planning procedures. I will be sharing the method I used to plan a laptop budget but first, I will be considering what a budget is about.

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Reference

What is a budget
A budget is a structured plan on how to use finance for an activity.

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An example of a case I encountered which prompted me for the need to budget was when I sold my laptop due to a debt I incurred.

What really happened?
Actually I received a credit alert which I never expected back then when I was in school, I had financial constraints to settle I never knew I would be getting alert the next day.

I woke up in the morning to realized a credit alert of NGN20,000 from an unknown name. I quickly went withdraw should incase the bank make a reversal thinking it was God who answered my prayers but he does things to in mysterious ways though truly he answered.

After withdrawing the cash to settle my needs which was majorly food related and purchase of educational materials. I felt good and relaxed not until a number called me later in the evening explaining how he made wrong transfer to my account claiming to be related to the policefunds.

I was scared at first when I heard “police”talk more of even thier funds. how did the person got my number? He threatened to locate me and arrest me if I don’t refund him within the next one week.

I had to sell my current laptop in order to save myself.
This had got me thinking on how I will budget for a new one.

How I planned the budget for a new laptop
As a student then, I started saving, I bought a saving box to be saving at least a NGN1000 per week but I ended up breaking my box after three weeks.

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This got me to write down a notice and pasted it on my wall at home, it was tagged “buy a new laptop” written on paper as seen below I still got the image saved in my drive should Incase I get a new one, I will know how budgeting is essential.

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Photo By Me

But fortunately for me, during my service year, I entered a crypto contest and won NGN150,000 which I pulled out NGN75,000 for the laptop budget.

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Photo By Me

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Photo By Me

Factors to be considered when budgeting
Even in this current economic period, one needs to still make plans for budgeting. If not house rent could be food or medical bills.

Consider the following when budgeting

Plan
Make plans as regards what you are budgeting for, make enquires to get the best just like me, I needed to get a laptop but thoughts came if I should get a new one or go for fairly used. I decided to go for a good fairly used system which is still serving me till this moment so planning is very important when making budget.

Stand by your words
When I first made plan to budget and save for a new laptop by saving, I didn’t stood by my words which made me to break my saving box. Anything you are budgeting for ensure you are earning in order to save to your budget target and do not compromise.

Planning the estimation of a budget is very important when it comes the actual thing you are budgeting for. It helps to make the right choice and decision during the process of making the budget.

Thanks for your time reading, do have an awesome week.



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10 comments
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Wow, I am also saving to buy a laptop and I am going for a UK used one, your article has inspired me to stay focused on that goal. You're right about making a plan, that has helped me a lot to stay on track and focused fully on saving for a new laptop

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That's great bro, get a good one with good system properties. Such as high ram, hard disk size and processing speed. If you wish to include camera properties. Thanks for reading.

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I laughed in my native tribe 🤣🤣🤣🤣🤣🤣
You are too smart to withdraw the money ASAP to attend to your needs. You could have waited to see if someone would call back to claim the money. Lol
Everybody needs money.

Thank God you paid back with your laptop and even won in a contest to get a new one.

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I was dire in need of money though. That was miraculous, I never expected another in a period of two months. Thanks for reading.

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Incredible. This is so nice.

I bought a laptop of #196,400 last year and the laptop is already having a motherboard issue. I'm so gutted about it.

I know I need to get a new one, but the thought of Saving again for another laptop within just a year breaks me so much. Haha.

At the moment, I'm more into investing the little I have until next year. But then, whenever but expenses are coming up, drawing up a long term Budget like yours is always very important

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Mine I was lucky I escaped through a contest. You can also check out some freelance jobs to get more finance to save for it.

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At this post you provide a great way to set a budget to be able to buy something like you buy a laptop. 😁👍

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Is good to stand by what you said especially if it will benefit one but it really required discipline just has you said, am also guilty of that too, it means I have to discipline myself in that area ooo, God will help us

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Indeed, without proper planning then any budgeting we are doing will be mutt. We have to make great plans and then see that plan through. That is the only way we can achieve the aim of the budget.

Thank you for sharing this with us.

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