[LOH #169] Keeping Track Of Budget

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Welcome To My Blog

Hello friends, Happy Wednesday. I hope your week is going well?
It's another weekly prompt of the @ladiesofhive contest. Love to join? Read here.

It's another time of the year when different homes and individuals have started making a budget for the year. In the building a good financial life this year, it is important to have a budget.
Budget helps you keep in track of your income and expenses. For you not to be in debt, your expenses shouldn't be more than your income.
Budget also helps you keep in check your needs(important things) before your wants (less important).


Source

These are the possible ways to stay on track with your expenses and work with your budget.
First you have to create a budget. It is good to be written down so you can see it everyday.
Making your budget, you need to check your income and categorize your expenses in scale of preference.

Prizes of goods can change over time and some circumstances can occur so it is important to regularly check your budget.
Also keep emergency funds aside so you don't touch your budget carelessly.
Avoid overspending, wrong investments that can make you lose money unnecessarily.

Lastly, stay disciplined to the budget you set aside. Only discipline and consistency in adhering to your budget can help you reach your financial goals this year.

Thank you for reading

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26 comments
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I can't do without a budget especially with the high inflation in my country

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Indeed, proper planning leads to proper spending.
When we don't write about our budgets, we can even end up buying too many unnecessary things that we don't even need

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Budgeting is very important in life. I use scale of preference in whatever I want to buy so as not to end up buying unnecessary items

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Good.
I've practiced doing this as soon as I started my Nursing Career because my long termed goal was to own my home. Keeping a budget measures my progress, shows where it's weakest and where I can adjust. In fact, I came to a point where my Car expenses were too much and I lived without a car for years freeing up a lot of cash. Inflation is the big Wildcard today. Adjust realistically @graciousvic and thanks for sharing.

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Wow I love the fact you had to plan on other to get a house
I'm sure you own one now right?

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(Edited)

The mortgage is paid in full! I have clear title now.

!LADY

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View or trade LOH tokens.


@graciousvic, You have received 1.0000 LOH for posting in Ladies of Hive. We believe that you should be rewarded for the time and effort spent in creating articles. The goal is to encourage token holders to accumulate and hodl LOH tokens over a long period of time.

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Yay! 🤗
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You stated "Lastly, stay disciplined to the budget you set aside. Only discipline and consistency in adhering to your budget can help you reach your financial goals this year."

This is indeed the very thing that anyone wanting to adhere to a budget needs to learn! You nailed it!

Thanks for sharing and have a blessed and lovely day my friend!🤗💜😍🌟 !LADY !LUV

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Yeah
There's one to to write down your budget
It's another thing to follow it

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I so hear you. Budgets aren't too hard for me-most of the time, but one could say the same thing about the food I eat; I have good intentions and more times than not, out the window those good intentions go! Anything we strive to do is only as good as our self control is at the time.

Take care my sis and have a blessed and lovely day!🤗💜😘😍💕🌸🌟 !LADY !LOLZ

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The last part is the most important there.. Without self disciple, the aforementioned will be pointless ..
!LADY

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