Contest: My Monthly Budget
INTRODUCTION |
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Good day everyone here, saying a big thank you to the organiser and the community for bringing up this contest topic which is about our monthly budget. Before using the contest hints to discuss further about monthly budget I will like to explain the meaning of budget.
meaning of budget |
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Budget is an estimate which shows the income generated or gotten and the expenses made within a period of time. Yeah, monthly budget is an estimate about the inflow and outflow of income and expenses within one month.
Making out budgets and plans help we being the consumer to set out priorities by using the opportunity cost method to go for needs that are essential.
Let know where you spent most of your money |
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Money being human asset used as purchasing power and most times settlement of debt. We all do have areas we spend most of our money on, mine is mainly on my school wants being textbooks, reading materials, school wears and so on. Aside that, money I generate from my photography skills I used them to learn and study more about photography.
Do you save a fixed or random percentage of your money permanently |
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I don't save a fixed percentage of money for now because of precautionary motive of saving money I generate. I think money I get from my photography skills doesn't really sum up to have a fixed percentage of saving But through steemit saving a percentage sum of money is possible that's the club5050.
Where do you keep your money that you save |
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The money I earned are been kept in my bank account most times while the ones I earn from steemit are powered up as steempower. I think my bank account is a safe place to keep my money because there are insured against not to collapse as an institution.
Tell me everything you associate with spending or savings |
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In spending, savings and budget are two things that work together inorder to spend you need to save and budget for it. I set out budget for my myself while saving for it. Things I acquire on my budget list are those essential things I can't do without.
Let's hear about your budget with 400-800 words |
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Budget is very necessary to every higher animal being humans. It helps in planning and setting out the future accurately, to accomplish certain objects we need to have a budget where we set out our plans effectively.
Thank you for going through my post 😍❤️
Inviting..
@imohmitch
@johnmitchel
@onlyonefave
Thanks for your budget post in the community.