Successful budget planning
Welcome to the followers of the channel secrets of money. In an era where the demands of life are increasing in an unprecedented way. Expenses have become many and obligations are many, so the end of the month does not come until the salary has vanished. As for saving, it has become out of reach for many. Therefore, there was a need to plan a successful budget that would not only help in saving for tomorrow's responsibilities. Rather, it guarantees you a decent life today. Regardless of your circumstances, the minimum you must save is % of your income. If you can't do that, there is no hope of financial independence at all. In this video, you will learn three steps that will help you plan a successful budget. It enables you to save.
One separates priorities and luxuries. Knowing spending priorities is one of the most important things that help in setting a budget. Help to save. Try to simplify the standard of living and stay away from frugality. It was said in effect. Half-living measure. Things that encourage extravagance are spending money in the wrong place. Giving luxuries to the most important needs. The successful budget is determined in the light of priorities and not on the basis of fake social competition. The family should not be placed by others. Every family has different needs, so buying a car may be just an indispensable accessory. While a neighbor is one of the essentials because they have a patient at home or any other circumstance.
In the absence of a distinction between priorities and luxuries, and when it must be acquired and bought quickly and what can be postponed, the task of planning a successful budget becomes difficult to achieve. Two allocated a financial envelope for emergencies. There are circumstances that cannot negatively affect the budget despite good planning. Unpredictable things may happen. It must be hedged. They are many, and they may or may not occur, such as illness or a car malfunction.
or unemployment. Therefore, the emergency balance must be secure, and the minimum should be the value of three salaries. Otherwise, you are exposed at any time to a financial crisis that may take months or perhaps years to overcome. Calculate the emergency calculation so that you are not among those who blame themselves when an unexpected occurrence occurs. And they don't find cash that fills these sudden gaps. Three Get rid of your debts immediately.
The most that spoils any budget and stands as an obstacle to the success of saving. It is the specter of debt. Whether consumer loans and through banks or borrowing from friends and relatives. Or not pay the bills on time. And let it pile up. As it is impossible under these circumstances to make a balanced budget before getting rid of this deducted part. to pay off debts. Debt does not come from behind only debt. If this is the case, you should think seriously and develop a strict plan to get rid of your debts. These were three practical steps towards a successful budget that makes saving easier and results in better results. And I know that the journey of a thousand miles begins with a single step, so do not hesitate and seek help from God and set out. You will not lose anything. You are making a tremendous mental effort in worrying about the future and the distress of your financial situation today. There is no harm if you make a quarter of this thinking in the optimal solution and good planning.