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September 30th, 2009 admin

Inclusive Movie
Monthly money saving…?

I get $120 a month for my expenses. Sometimes I wonder how I should properly budget my expenses? Inclusive of food, magazines, school stuff, movies etcetc. So uh, I was wondering if anyone could give me some guidelines on how to organise my finances?

I present four probable systems of managing your personal finances that you can choose to implement based on your situation.

+ Category System
You split your cash into three categories, namely Spend/Give (monthly expenses), Save (for big expenses), and Invest (not for spending).

+ Percentage System
You decide the percentage of your cash for savings, retirement, expenses (fixed and variable), investments and provisions.

+ Envelope System
You have to budget your finance to make this work as you split your cash/income into envelopes of categories, like spending, expenses, big purchases, emergency funds, etc.. So, you can only spend the cash contained in the envelope and there won’t be any other spare if you are still short.

+ Hybrid System
In fact, you can combine Category and Percentage Systems to create your very own system to suit your finance. You can decide the common or popular income, expenses, and other aspects of your life before assigning them percentage of contribution. E.g. you may decide that 25% of your cash/income goes to your retirement account, and 20% goes to your personal salary that is untouchable at any time except extreme emergency.

Having a cash management system requires you to be self-discipline and focused to achieve your financial goals. Good luck.

COD4: All Inclusive – Presented by “shyR & vacuum” – Amazing Frag Movie (Best damn movie 2)