The wisdom of managing a budget
Another very interesting topic that makes us think about how we manage our budget for a month mainly.
There are numerous factors that can help us, but we ourselves have to set priorities above all so that a budget and if it is a family budget can arrive to have the essential goods for us and our family.
Factors that we have to consider in our budget:
-How much salary do I get per month?
-How many fixed expenses such as water, electricity, food and education for our children do we have?
-What are the possible extraordinary expenses that we may have?
Above all, in addition to the factors listed above, we must take into account improvised factors, those that we do not have as fixed expenses and that can appear at any time, such as:
-We have to be prepared for a breakdown in our car at any time.
-We have to be prepared for an illness situation that can happen at any time.
-We have to take into account the increase in the cost of living in the price of food products, as well as fuel, among others.
In short, a budget is neither easy to make nor easy to predict. My opinion is that we should always save what's left before an unforeseen event arises.
We have to make choices, we have to have priorities that we and our family cannot afford, for example, food cannot be harmed, neither education nor our health.
We can avoid certain things that make us incur expenses, for example, not going to restaurants often, trying to save fuel and only taking essential trips, buying only the essentials and only when we have a little more financial means then trying to buy other goods .
Planning is essential and I'm going to give you a tip, we must in excel, for example, make a table of expenses and another of income and know that we must not spend more than we receive, we must try every month to have a positive balance.
Another of the things I want to share in this post is that we should only resort to bank loans that may be good at the moment, but later are difficult to repay and lead many people to bankruptcy.
Nowadays we are full of ads offering loans to buy a house, to go on vacation for various things but we have to assess whether we can afford to pay because these loans have interest that make many of us lose more than we earn.
I hope in this post I have managed to help many people at least think about their budget and management.
Thank you Hivelearners for bringing up this topic which means a lot to me.
Above all, manage your budget responsibly.