ENTRY TO W28E1 CONTEST "COST MANAGEMENT", IN HIVE LEARNERS COMMUNITY

over 1 year ago

Hello Hive Learners, how are you today ?, i hope everyone is good and still exciting to start a new weeks and start a new contest

Edited from Logo Maker app

The 27th week has just ended and there is a lot of fun in the 27th week. Many participants enter the contest by displaying their best posts and this makes the 27th week very exciting. This time we will start the fun in the 28th week as you know, this week we will start with contest titles that are very exciting to discuss, and I think this 28th week will be more exciting than the previous weeks. previously.
In this 28th week, we will start with the title of the first edition of the contest and this first edition we will discuss about budgeting costs that we usually do, of course everyone has done it and of course there are many different reasons for everyone to budget for the costs they incur, so do I and as such, I will express my opinion in this post, so take a good look at it.

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Dealing with money, of course, makes us have to be very careful and this requires us to write it down, record it, and also record any transactions that most of us do with money of course. With these records, of course, we can make a cash flow, and can also direct our expenses more objectively, in the sense that we have a scheme and also things that will be bought or paid for with money. Maybe for us this is a little difficult, but things like this are related to the accounting system that is actually widely used by large companies and of course with even more complicated records.
Recording of expenditures or expenditure objectives is usually referred to as cost budgeting.

Budgeting the cost itself aims so that we can choose the needs that become basic needs or interests that must be completed first, usually these needs are primary needs or sudden needs. Directing costs to the priority of these needs is very important in order to support life and so that the cost budgeting process is not chaotic. There are all kinds of ways for people to do their own budgeting, some remember it out of habit, and some keep track of it.

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I am one of those people who often do this, as a person who has a busy life and I also have a lot to fulfill for my daily needs, I do budgeting every day so that I can allocate my money correctly and appropriately. I do it every day and in doing it, I first set aside my money and divide it for various purposes. Of course I don't have to write them down one by one because I can still remember them even though I sometimes forget something. The reason I do this budgeting is because of course my money is sometimes not enough for some needs, therefore I will allocate it to the most important needs depending on my situation at that time.

Day by day, needs and daily needs are increasing, therefore I never spend my money before I do this budgeting and if there is more I use it for snacks and so on.
If we spend it before budgeting, of course we will spend it without us knowing it and this is really a terrible thing if it happens, and this is one of the reasons for some people their monthly salary or income is always insufficient even if you calculate income or his salary is sufficient to meet his needs.

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I also have some techniques in doing budgeting to meet my daily needs. What I prioritized most were needs that couldn't be postponed, and I allocated my money for this the first time.
This need is very important and cannot be replaced unless it is a sudden need, such as medicine and something that happens suddenly. Apart from that I will not allocate my funds the first time other than these two ha.
After this important need is completed, then I will fulfill my daily needs such as food, clothing, transportation, and so on which this need is a need so that I can make myself look better and apart from this need I will limit my spending .

After everything is done, I will try to save a little of my income for something I want to buy such as snacks or something, and of course from this pocket money I will set aside 20% for my savings, for me the savings must be set aside anyway because this will be very helpful later. If I have more money after all, then I'll use it for something I've never done like buying things I like or something. Basically this is how I do budgeting in my life and it really helps.

Those are some of the ways I do budgeting in my expenses, I hope you can learn from my method, thank you and see you in another post.

Special thanks to :

@hive-learners
@bruno-kema

I'd like to invite my friends to following the contest :

@hattaarshavin
@waliphoto
@rahmatandesti