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How To Budget

I discovered this technique on Pinterest, my newfound favorite social media site. When I first had my first job, I did not know how much exactly I should save. My uncle told me about saving the 20% of your sahod, when I computed how much I save per paycheck, I actually saved more than 20%– I managed to save 32% of my sahod every paycheck!

To tell you the truth, I receive little every paycheck. But I managed to save tons because I don’t have to pay any bills. The only bills I payed for are Spotify, and iFlix. Now that I am on my new job with higher salary, my dad is not giving me much support like he used to before. Like I buy my own lunch, pay for the laundry etc.

Now with bigger responsibilities, I would want to manage my finances the best that I can while young. Thank god for Pinterest! Here’s how to budget your sahod so that you won’t be pulubi in the future.

50 30 20 bago

50% for Essentials

These are the things you need to pay. You should save the 50% of your sahod for bills, rent, utilities, daily allowance, and groceries, or whatever your needs are. I know that the percentage seems really big, but hey you need to live!

30% for Personal

Separate the 30% of your sahod  exclusively for your wants. Like for entertainment, dining out, etc, whatever you like. These are for your personal leisure, for your life to have a so-called lifestyle. You don’t really need to maximize the 30% for your wants. I still recommend saving it, and not being too maluho. But don’t sacrifice your personal happiness. You only live one, enjoy your life for the betterment of your well being. Sorry I’m contradicting.

20% for savings

And segregate the 20% securely locked in your bank account, or piggy bank! Think about your future. If in case for emergency you have money saved. If you lost your job, you have money saved. For your retirement, you have money saved.

I know that you rarely think about retirement in the age of 22, but It’s better to start early. You’re old self will thank your young self. Saving also lets you have a sense of financial security and peace of mind for your future. You never know you might need the money once you start your family.

Budgeting your sahod shouldn’t be a mishap every paycheck. With this technique that you learned I hope you will be able to utilize it in the next cutoff and better manage your money!

Happy saving my fellow millennials!

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