The Budget Challenge | Blueprint of Priorities

ja9garnett (49)in #thebudgetchallenge • 6 years ago (edited)

I’ve been indulging into a different contest challenge before but this time I'm about to tell my personal ideas regarding how to manage your expenses or how to budget. Last week, @smaeunabs somehow asked me if I’m going to join her #thebudgetchallenge and here I am. Though, I’m no expert at saving money or any money management ideas, still I consider myself as kuripot some times.

Since I start my career of being an engineer, I somehow learned how to manage my expenses personally. During my payday, the first thing I do is to part my own expenses from the money that I will give to my family.

You can see from the chart, 48% goes to my family expenses which I give it to my mother for their groceries and some of their payments. Given that I still have my mom, she's still in charge of the family budget. The remaining 52% of my salary will be the one divided for my personal budget.

This time my 52% of my personal budget will be divided into two parts. First part is for my investments and the second part for my necessities. The investment part will be given by 38.46% of my 52% of my personal expenses while the 61.54% goes to my daily needs.

From 61.54% of my Personal necessities, it will break down into two again for my extra-curricular activities and for my groceries.

You may wonder why I called my first part as extra-curricular, the part with 37% portion. To tell you honestly I seldom go out from our staff house not because I’m an anti-social person but I’m just too tired to go out, that’s all. So, in the end, it will go to my transportation expenses whenever I go home every weekend, simply just like that. The 63% portion goes to my groceries and daily meals.

You may notice that my budget management is so simple, simply because I’m still single. hahaha. Kidding! Why making your self-be a responsible for everything when you can just live like what you should be. I’m not saying you don’t have to help your family, what I just mean to say is you must enjoy yourself while you’re still young. Someday that time will come that you need to adjust that portion thing for other expenses, but don’t make yourself hurry, just go with the flow and you’ll learn more when the time comes.