Budgeting Time

Month of March is ending and a few days more, I will be receiving my salary. Hence, it's time to do budgeting again for the month of April expenses plus savings. Once, I have attended a seminar about how to save. They said the ultimate technique to handle your expenses as well as savings is to always follow this formula:


EXPENSES = INCOME - SAVINGS.


and not the other way around SAVINGS = INCOME - EXPENSES. The formula Expenses = Income - Savings definitely sounds reasonable enough considering that you are setting your priority first on savings before attending to your expenses which includes “the needs and the wants”. I am really forcing myself to always follow this formula so I can accomplish all the plans/projects that I have in mind. As what I have noticed, sometimes EXPENSES can be extended to miscellaneous things. Like if we only went window shopping and just so happened we see some boutiques or stores on clearance sale, definitely the temptation to avail it is so strong even if it is beyond our budget scale already and the last thing in mind is use credit cards. I’m guilty about this too because sometimes I’m also like that. I'm just so glad that lately I can now control myself on this and not really go into impulsive buying.


So going back to my chart, I see to it that I will save first for my ongoing project and will just allocate what is left or shall I say I need to make the most of it by hook or by crook hehehe. This way I can be sure that I can really save. Before, I usually do manual budgeting every month. Meaning I just write it in a small notebook and keep it somewhere. But just today, my colleague shares to me how he does his budgeting via iPhone. There is one iPhone application that we can download for free. It's called iXpenselt Lite. I like it so much because you can actually put the type categories of your expenses as well as the source of income side. It has the feature to let you see your cash flow as well as the income statement stating there your net balance after plotting all your expenses for the month. Woaah... it's like I'm advertising already this iPhone software hehehe. But really, this one is cool and you can even export your budget flow via email and can be open as excel file. Nowadays it is really so convenient with almost everything. But of course those are for materials things only. There’s still nothing compare to genuine touch, hugs and love. Anyways, right now no need for me to bring my notebook whenever I send money to my love ones. The iPhone can do this things now plus this iXpenselt Lite is guarded with password. So even if u lost your phone, no worries about it. Your money secrets are still protected.

So Happy Saving. Cheers!!