What A Spending Budget Is And How To Create One

Pagkain…
Pamasahe…
Tubig at kuryente…
Cable and internet…
Kotse…
Tuition fee…
Diaper at gatas…
At kung anu-ano pa!

Ang daming gastusin, pero limited ang kita.
Ang bawat sentimo na pumapasok ay siguradong may pinupuntahan.
A foolish person will spend everything, but a wise person knows how to manage his/her resources and spend it wisely. So if you want to be wise with your finances, it is very important for us to make a spending budget.

Having a SPENDING BUDGET allows you to identify what part of your money goes to your spending allowance. Yes, you heard it right. Pwedeng-pwede gumastos. It is okay to spend, as long as you have the money for it. Ang mahirap ay ‘yung wala kang panggastos, pero gastos ka nang gastos. Kaya, may mga taong nalulubog sa utang dahil wala silang spending budget. At ang tendency pagdating sa paggastos, “sky’s the limit”, kumbaga.

If you have a spending budget, ibig sabihin nito ay pwede kang gumastos para sa bonggang bakasyon, hi-tech na cellphone, toys para sa mga anak mo, para sa mga luho mo, at sa kung anu-ano pa – as long as pasok ito sa budget na ginawa mo. I’m sure you will base your spending budget sa resources na meron ka. The key here is living and enjoying within your means.

When we are create a spending budget, it helps us to develop patience and to wait for the right time before we spend. Once the money comes, we will be able to spend our money with joy – not with remorse or regret. Mas masarap gumastos when you have peace in your heart, kaysa ‘yung nakokonsensya ka at ‘di ka mapalagay.

Now, the question is, how can we create a spending budget?
Here are my four easy steps:

KNOW YOUR INCOME.

This is the first step in creating a spending budget. Alamin mo ang exact income mo or range ng amount na kinikita mo on a regular basis. Lahat ng pinagkakakitaan mo at kinikita mo ay kwentahin mo, so you would know how much your resources are.

LIST YOUR EXPENSES.

List down your expenses and priorities. Ano ‘yung mga pinagkakagastusan mo on a regular basis para maka-survive ka? Make sure that you can identify between your needs and wants. Unahin mo muna ang mga pangangailangan mo.

MAKE A BUDGET PLAN.

After knowing your income and expenses, make a plan on how to spend your resources sa bawat needs na meron ka. Kapag nahati-hati mo na at may budget ka na sa lahat ng priorities mo, dito ka mag-umpisang mag-set ng spending allowance mo. As I always say, you should adjust your lifestyle to your income and not vice versa. Because if not, ikaw rin ang mahihirapan sa huli.

STICK TO IT.

Maraming gumagawa ng plano, pero hindi naman nagtatagal. ‘Ika nga, ningas-kugon. Panay umpisa, wala namang natatapos. We need to become great finishers, not only good starters.

THINK. REFLECT. APPLY.

Do you have a spending budget?
Have you tried making a budget plan?
How do you spend your resources?