Well, now that I am back to work, I face the challenge of my budget once again and seeing how I can make things happen. According to my aunt, just working for enough to pay the bills at the end of the month and still can't buy a car or buy a house. What's the point? Can't even take a nice vacation too or for the length of time i might want to.
That's what happens when you fail to make a plan. So, my plan is to save at least they say 10% of my salary(that is, pay yourself first) and then pay off bills etc. However, what if every last cent has to take care of living expenses and firm commitments such as loans etc....I thought of that and I believe I will have to adjust some of my living expenses(which would mean substituting and reducing all round) and try to save and invest in ways that if ever i am in a situation where i lose my job again i can have some form of income coming in and savings to pay my immediate bills if need be.
So, that's for starters. I will put aside the 10% and probably split it between a savings i cannot touch and another in which i can in the event of emergency purposes. From there I will work on the rest of my budget.
Sounds like a plan. I will update on how this goes. Keep myself always in touch with how my expenses are going and whether i am on the way to reaching my main goal in the small steps i am taking.
To remind myself....My main goals: Save for house,save for emergency,save to invest(stock market) and find another source of income.
Cheers,J.
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