Make the most of your “moola”

A famous quote by Dave Ramsey reads:

A budget is telling your money where to go instead of wondering where it went!

A budget is very essential in every woman’s life. A good budget pays in the long run and there’s nothing as fulfilling as realising you have extra cash especially at the end of the year. Among many goals, financial goals should be top of the list. One has to understand the difference between ‘wants’ and ‘needs’.

What are needs and what are wants? Feels like we’re taking you back to financial class doesn’t it? We just realised by end of next month we’ll be done with the first half of the year and most of us like to have these self-introspection moments. These inevitably push us to trace our productivity and tick off what goals we have achieved, both financially and spiritually. If we have that resolution list we go back to it. A budget will help us avoid feeling like we didn’t put our money to good use during the first half of the year. Since we’re only in May, we can still help each other to avoid that loud sigh! It’s not too late to ‘Begin now’.

Needs are essential requirements, things we require to live for example food and water. Financial needs however vary because of age and seasons. They can also be subjective because one person’s needs can be another’s wants so before creating a budget, personal financial needs and wants should be clearly defined. On that note here are quick easy steps to help you create a budget and have no financial regrets:

  • Make a list of your monthly expenses
  • Record your total income
  • Subtract your expenses from your income
  • Adjust your expenses
  • Reduce unnecessary debts
  • Put your budget to work

Please remember not to put yourself under pressure , do it at you own pace and monitor and evaluate yourself with mercy.

Happy budgeting!!!


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