This month I was conscious about what I did with my money.
I made my hair once, didn't drink any soda, didn't cook much(in short, I ate most of my food in my neighbor's room), I didn't spend much on Data subscription(I found a saving grace plan on my old sim)
The total expenses for most days are so small, I thought the amount won't even be to ₦60,000.
It's shocking to find total expenses for October up to ₦100,000 plus a little extra
How did that happen? I was really careful not to overspend this month. I was being stingy with money this month
I started writing down my expenses when I read the book, your money or your life. I wanted to know where my money went, that way, I can repurpose it to useful directions.
It was September, and my expenses at the end of September showed only ₦70,000. Last month, being October, I just finished the calculation a few minutes ago, and my mind is blown.
Even with all the conscious actions I took, my expenses still skyrocketed. I sacrificed my favorite drink (Pepsi) when I found out it cost me a lot.
The story should have been different, the amount should have been lower. I didn't include the money people gifted me to buy things and I did. I thought since it didn't come from my pocket, it shouldn't matter. Imagine if I did, that would have been a lot of expenses.
Now, I am sitting here angry, why? If I had ₦100,000 and spend it, where is one-tenth of that money?. Sincerely, I am mad. The only amount I have as one-tenth is ₦2500, isn't that absurd?. At least, I should have up ₦10,000 to prove that I had ₦100,000 last month and I spent it without knowing. That one-tenth should have gone into savings, and later on investments portfolio. Now, it's not even there.
So, here is my resolution for November, every money that passes through my hands or my account must have a one-tenth to prove that it existed in the first place. I will keep one-tenth of all that I earn either through work or gifts.
I need to be sure that my expenses match the amount I have, and one-tenth is there to prove that the numbers I am seeing are not a myth.
We all need to watch where our money goes, it's important. Tomorrow, I will break everything down, I have a feeling, this month, transportation took a huge part of my money because I am seeing it everywhere on the list. I'll have to look for a way to either cut it off or reduce it this month.
However, if I find out, it's something else, then, I'll do something about that too. You should also know that maybe, birthday celebrations took a huge part of my money too. I had lots of friends and family members who were born in October and it has been one celebration after another, and I was obliged to give them presents.
I don't know for sure. Maybe, it's food, I may be thinking I didn't spend much on food when I did. It could be snacks or toiletries or anything. I will find out tomorrow.
Do you watch your spending too? Does it go up or down? Share your experience with me.
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Hello @iskafan. Yes, we do have to watch our expenditures each month if we want to manage our budgets. But first, you have to create a budget with different categories of spending.
₦100,000 = approx. 243 USD
I can understand spending that amount in a month. Looking at this, it can easily be spent dining out and wasteful spending on unnecessary items and other people.
Try saving all your receipts. There are also apps you can utilize that will track your spending.
Good luck.
Read through @dreemport
Yes, this is true
I agree but since I started around September, October was the second month for me. I haven't gotten around to breaking them down into categories yet. Truth be told, I don't know how to do it. Can you help @justclickindiva. A clue will suffice.
Yes, it can. That's Why we need to watch out for these unplanned Expenses. That way, they do not dig holes into our pockets.
I did this, way before I started writing my expenses down. I always had a reason to look for those receipts. That was the reason why I had to save them. However, with this budgeting and expenses of a thing, Keeping my receipt is more important now that ever.
Do you have anyone in mind? Share with me, please 🥺
Thanks for coming around ma'am, I appreciate
You will be surprised to see that you have spent that much in a space of thirty days or less. It is a good thing to be conscious of what we use our money for.
I have learnt through this post to keep an eye on my expenses.
I came about your post via @dreemport.
Sincerely, I was surprised
I am glad that you agree
I hope that it will be a worthy cause for you
Thanks for coming around
When I did financial counselling with clients the first task they had to do was to get a notebook and mark down every penny they spent. Then at the end of the month they were to sort the expenses into categories and see where they spent their money.
Not only did it show the small amounts that accumulated into larger amounts, it also gave the client a realistic idea of their spending to be able to create a budget they could live with.
When I had done the exercise myself the biggest surprises were the small amounts spent that don't seem like a drain until you total them up.
Sincerely, it is often those small amounts that accumulates into Bigger sums too for me.
Well, now, that I am aware, it is easy for me to create my budget and to work around, twerking it as the week goes back
Thanks for coming around ma'am
I swear, you understand these things 🤦
100,000 in a month? You are definitely balling 😆 cause my frugal self won't let me spend even 50k monthly.
Hehehehe.... I think I am balling ooo 😂😂😂
50k? Gosh, I need frugal trainings if that's the case 😩
The 50k is on the high side months oh
I understand you dear.... Maybe, this month I will be more frugal...
Just keep trying.
Needs from wants.
Yes, I'll do that.... Thank you very much
Which part of the country did you spend 60k per month? Boko, where I am, they're killing me with bills on bills.
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🤣🤣🤣🤣
That's the difference..... You are a man, I am a lady 😂😂😂
This same country.... Nigeria 😅😅😅
@josediccus
Edit: a tiny Lady at that. 🙈
How sure? What if I am a lady? 😅
Not with those balls in-between your legs you're not :)
Please, remind him ooo 😂😂😂
Balls, you must being seeing through my avatar then
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I know you are not a lady jorh😂😂😂
I don't know why I found this a little funny. Yes, it can be frustrating when you can't exactly place where your money went.
These precautionary measures you have put down are very impressive. I hope to read feedback here.
Hahahaha..... It was funny to me too because I wasn't expecting it.
Babe, you understand these things
Thank you very much dear ❤️
I'll definitely do that, thank you
It's always a great idea to keep a budget, and the first step needs to be to identify where your current allotment of money is going. Good for you for doing it.
Personally, for me, transportation is a minimal cost (I work from home), but food is always high. I eat out way, way too much. Laaaaazy.
Laaaaaazzzzzyyyyyy. Wait should I add bones to this?...like laaaazzzzyy bones 🤣🤣
I am happy you agree budgeting is good for me. Thank you.
It's great that you work from home, and that transportation is a minimal cost for you.
I understand how food can be high for you. Maybe, you have to start cooking. What do you think?
Oh I do cook when I can but, you need to remember... laaaaaazy. 😂
Here's some !PIZZA to help you out. Analysing where one spends their money is a useful thing to do on a regular basis. You have reminded me that I need to do this again too. It is too easy to get complacent.
Thank you so much, I really enjoyed it. 😊
I am glad you support me on this feat.
Cool, I am proud of myself, right now, thanks
That's very correct ma'am
@iskafan, sorry! You need more to stake more $PIZZA to use this command.
The minimum requirement is 20.0 PIZZA staked.
More $PIZZA is available from Hive-Engine or Tribaldex
I don't usually track how much I spend monthly, but after reading this I have to. Fingers crossed 🤞🏾it isn't too much
Found your post through #dreemport
You really have to start keeping track, it will help you build a good relationship with money. With that, you will know where to channel your funds to, especially if you like investing. Thanks for being here and sharing your experience
Okay. I'm getting that book
Lol, you should.
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Thanks for the heads up hivebuzz
I think without tracking every bit of money that comes in and out one can get caught out by small miscellaneous expenses that all and up and come as a shock when you balance your finances at the end of the month
I agree, those miscellaneous expenses has a way of eating deep into our finances if we are not careful.
So true, but once you can track them down you can try and control them :)
Yeah, control is what we all want.... It makes the big difference.
For me, I want to be able to control it, so I can show it where to go, in order for it to be productive.
Instead of allowing my Money wander aimlessly with no direction or purpose
Thanks for reading, sir
Thats a good way to be, its something I watch more closely now that I am retired and on a tighter budget
Oh, congratulations on your retirement. Speaking of retirement, I have been reading a lot about it lately.
I found out you that most of the time, retirees feel they will have less expenses,but it's not always the case.
You guys have to make provisions for travel expenses, healthcare, taxes, shopping, etc.
How do you feel about this? Does being on a budget help the way in any way?
Thank you
We are ok we planned ahead for retirement have a reasonable pension and a reserve fir any unexpected big expenses but that said we have to be cautious and not be extravagant
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