Entry for ladies of hive #169 th contest
Managing money is much more important than earning money because misspending money causes financial crises. There are no specific clauses or rules that need to be followed to stay on track but yeah there are some minor stuff that helps us to manage things accurately and even make savings.
Firstly identify the class in which your family is lying right now, and then check which expense of yours demands more percentage of your income. The ideal percentage is 60%(Services) 30%(Groceries) 10%(Home decor).
- Services mean spending money on electricity bills, home rent, school fees, and other related expenses.
- Groceries mean spending money on edible things.
- Home decor means spending money on anything buying new for the home no matter if it is a washing machine or a new sofa set all this stuff lies under the same category.
This percentage doesn't have to be the same for all types of families. Because maybe you're just a family of two and your revenue is mostly your savings and you are not spending it on services for that your percentages will show up differently.
Secondly, look for alternatives. If you are using hand wash at home you can replace it with something cheap like soap. There is no specific difference between both products but it will decrease your expenses. Choosing alternatives never means that you are compromising on quality but good market research helps you to deal with the financial crisis you are facing at home in a very easy way. Let's not talk in depth but if you stop buying some luxurious things the prices of those goods will also fall gradually, according to the demand and supply concept.
Being skilled naturally is a blessing and I'm blessed. I have the skill that I can fill colours to any boring thing and I'm full of life. That's why I easily got chosen for the decoration team of our university. Recently our team of 20 students got a chance to go to the school of special students and it was the best time of my life. We were there to do some wall paintings and to arrange some decorations for their small event. We also got a chance to teach students some new creative crafts.
Not gonna lie I have done lots of work with different teams at our university but the feeling I got by working at that place was so different. We spent 2 days on that project but I was so attached to that students. They gave us so much love, I can call them pure gyms. I never got a chance to visit them back again but I will surely plan something again. Because it was a peace that was found there.
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This are such great tactics to spending. And I agree with you
Great ideas you got here, if plan a does not work go for plan b . Great piece
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A budget is merely a financial snapshot of household expenses or goals. It not written in stone but helps me identify categories we can adjust with cheaper alternative choices to shore up on higher priority expenses if needed. Flexibility is key. By the way, that spreadsheet is actually my budget template.
Thanks for sharing your ideas @hadianoor
