Budgeting to saving

I understand that saving is a lot harder than spending. Well its because you dont have discipline when it comes to money. What am i writing here is through experience. If i receive my salary this day after 2 days i dont have money left. and im waiting again for the next payday. Though i got 2 part time job and 1 food cart business still nothing left in my savings account.Why? Because i dont have discipline. I have a bad attitude when it comes to financial matter. Oooops( I dont just spent my money for me, i send 2 sister in college and send some for my family as well) And i dont live with my family.I rent a boarding house. So means im more on giving and eating. Now that im 27 i just realize that i need to save.
Heres what im doing and its working on me so why not give it a try also:

1. Set a certain percentage for every cashout you have to make for this month

2. Set your budget for the month let say Php 2,000.00 for meals, transpo, groceries,etc.

3. Now set the Php 2,000.00 allocation again in 100%. I know Php2,000.00 pesos is not enough for a month but atleast if u jack a little bit still you still doing your best to spend at this amount
its like doing your best to be on top of the class and if you failed atleast you've passed

4. At the end of the month study your monthly expenses. Thats the time u make adjustment.

Note: Im not good in english, especially my grammar and spelling so if i commit mistakes here pardon me.
Mission: To pay all my debt this year
Vission: To be free from debt next year
태그: savings
15-09-2009 10:42에 게시 | 2 댓글 | 좋아하는 글로 등록된 횟수: 0 | 부적절한 글로 등록된 횟수: 0


#1     This sounds good but I think it needs a little clarification.
Example: You pay X amount for Food, so take 10% of X and put it into savings.
If you pay Php2,000.00 an month in food/bills you should be setting
aside Php200.00 for savings, Correct?

I think this is a good logic because most people say to save 10% of your income.
The income varies and your budget is blown. But if you save a portion of money
that reflects on your money spend on Bills it could be easier to save.
Procrastination Takes Time.
24-10-2009 18:40에 게시
#2     thanks for the tip :-) i'll try to put it to good use :-)) i'm a college student so i have to tweak things a little :D
14-07-2010 16:07에 게시

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