BUDGETING IS BEAUTIFUL AND IMPORTANT

The more we keep on growing the more we learn new things and that makes learning one of the best phase of life, we learn new things everyday and that is to say learning is continuous in life ..

The beautiful truth is that a lot of us has learnt one or two things from life all which include spending money for the wright reasons and also purchasing what we need and not what we want because your need is much more important than your want....

It is a simple economics, and while growing up, we all have learnt about staying within BUDGET, whenever I bring out a pen to write out what I need most times, some of my friends will look at me like I am going gags because there is no money I earn that doesn't have a budget ...

Budgeting is one of the essential way of life that we all need to inculcate because if you don't make budget, it won't affect your present situation but it will come back to hunt you in the time of need which is in the future and that is when running Helter skelter becomes very easy...

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Whenever I start making my budget and also with a list of my needs for the months, my friends thinks I am stingy but one thing they don't know is that nobody knows how tomorrow will be or what Challenges it will come with and to prevent running Helter skelter in the future, I decide to plan how to tackle tomorrow's problem...

Funny enough I didn't start budgeting all of a sudden, there is reason behind it, while working as a loan collector, I collected my first salary and then the day I collected my salary, I saw a beautiful pair of jeans and a sneakers, the both of them cost about 8k, I had forgotten I still need to buy some things for myself and then before I knew it after 8 days of my salary date, I was broke, I didn't remember to keep my transportation fare for the next month and went for something I wanted not what I needed and it came with a result...

I had to trek for half a month all because of a single mistake I made and after that lesson, till today I have always planned and worked within budget and not jump into buying things out of attraction and for the wright reasons ..

The following month was different, I had a budget and all what i bought were within BUDGET and I still had some pocket money left for future use, most of us buy things out of attraction and I will tell you boldly that it affects you in ways you might not even realize and then you think it's normal....

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Budgeting is a very good habit, even when I get rich some day I will still work with budget and that is what life has taught each and everyone of us..

Budgeting is a way of life, it is a means by which we reduce or curb excessive spending on irrelevant thing's and not want we NEED...

Everybody works with a budget, no matter the amount of money we earn, you will mostly have a budget on it which is quite okay, it prepares you for what lies ahead..

How do I make my budget and what are the factors I consider when making my budget is my main goal today ...

   HOW DO I MAKE MY BUDGET...

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I have been making budget since my early mistake that cost me a lot and after that day, working with a budget has been very easy and beneficial...

First thing first, when I get my salary or earn a particular amount of money, I bring out my pen and book to write down what I am lacking personally and what I need presently...

Before I get the money, I sit down to observe what I am lacking and put it into writing because I don't want to forget about it and after I spend the money, when I need that thing, It then struck me that I didn't buy it...

After PRE-PLANNING and when the Money is available and ready to go to their allocated reasons, I do POST- PLANNING which means sitting down for minutes again to confirm what I am missing again to be ascertained and then after writing down everything I need, I go to the market, boutique or anywhere it is sold and get what is in my list...

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After purchasing everything and I see the result, I might be having extra change or the money might not be enough to purchase all, depending on which of the option, if its an extra change, I buy some things in excess and mark it out of the next month list and when the money is not enough, I keep the list and when I have the money I will go with that list and finish what is in my list...

After doing all this and then any other money comes in, I have it in mind that I don't have any needs for the time been and then I can go out and buy some things that attracts me and at the same time is very important to me too but not my need....

That is how I make my BUDGET and so far so good, it has been going well for me and I am happy with it....

   WHAT ARE THE FACTORS I CONSIDER WHEN MAKING MY BUDGET...

As a teenager who is still stays under his parents roof and still gets fed by them, there are few factors I consider while planing my budget and they include:

• SALARY AMOUNT
• SCALE OF PREFERENCE
• MY NEEDS
• PRICE OF GOODS
• QUANTITY
• MY WANTS
• POCKET SIZE
• FAMILY SIZE
• EMERGENCY

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The above are the factors I consider when making my budget for the month, my "SALARY AMOUNT" would determine how I allocate certain amount on certain things, it is normal to have a "SCALE OF PREFERENCE" as It requires ranking of needs as which is much more important to buy than the other in your list, separating my "NEEDS from my WANTS" is also very important as it determines if I will be left with extra change or will need to add more in the future due to instability in prices of commodities, POCKET SIZE is the amount of money on me, I mean cash at hand ✋ and what I will buy with it first before I get paid my salary and lastly as a teenager who is partially depending on his family, I need to consider how to support my family by giving them a particular amount of money every month to support the feeding allowance and then I can work with myself for the remaining days of the month with the remaining money and that includes transportation and daily feeding 🤑...

In summary, I have been doing this for almost 3 years now and it has been working fine with me, I spend within budget and not over my budget to prevent running Helter skelter in the future...

In conclusion, the EMERGENCY is me keeping a certain amount for any impromptu activities in the future and having a back up plan for it which is considered a sensible and knowledgeable thing to do to be okay in the future

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BUDGETING is very essential as it helps us to stay within important buyings and allocating the wright money for the wright reasons and not going overboard...

  THANKS FOR READING AND HAPPY NEW WEEK❤️❤️❤️🫂🫂🫂🫂