SLC32-W2 || Real Life Problem Solving Challenge: Budget Planning

photoworker (67)in Steem For Pakistan • 9 days ago

Hello dear steemian friends

Welcome everyone to the Blockchain basis steemit platform. This special experience platform shares interesting aspects of life which really have the significance of peace. Here first SLC32-W2 Real Life Problem Solving Challenge: Budget Planning @ahsansharif Thank you for organizing this special life experience. But I think it was challenging for you to find these special questions. But these questions are part of our life.

Using by canva apps

01:-How do you plan your weekly or monthly budget? Explain well.

Since I am a job holder, I have to plan my monthly budget. So, the period of spending is every month from the first day to the 30th day. My practical things in Dhaka, food, travel, mobile expenses, house rent, etc. are included in my personal expenses. Even after bearing these expenses, I have to keep a separate budget for my family.

My family's household expenses, electricity bills, gas bills, children's school expenses, private expenses, etc. Medicine and water expenses. These are the most relevant expenses that I have to bear in my monthly plan. After filling up this budget from the salary I receive, I save the remaining money in the bank for the future of the family.

02 What tool or method do you use to track your expenses? Show at least one tool or method in detail with a selfie.

I use a small diary pad to keep track of my expenses. Everything depends on the salary I get as monthly expenses. Now I will show you this special notebook. But the income I earn is very meaningful and important for my family.

These special expenses play an important role in my family's comfort and my own running. I deposit whatever is left at the end of the month in the bank. And from there I do not hesitate to spend a little on the needs of my family. However, even if I spend less for myself, I try to focus more on the family's side.

This account in my hand is very important and meaningful through special percentage. I do not hesitate to decide to tie the salary I receive at the right time. However, I am controlled in the plan.

03 What are the unnecessary expenses that affect your income? Explain.

My income is affected by special accidents, first of all, things that were not supposed to happen. For example, if I am sick, I have to take medicine or if someone in my family is sick, my income is affected. Moreover, when the prices of various products in Bangladesh increase, it affects my income. When the interest rate is high, it affects my income. When electricity or water or house rent, including school fees and taxes, increase, then my income is affected.

Just then, my decision or plan enters my mental thoughts. Such plans suddenly come into anyone's life. Moreover, mixing with friends affects my income.

04 How do you save money from your income that will sustain you for future hardships?

I constantly try to find different ways to save from my income, for example. I started a tree garden in 2019. From 2019 to 2026, the trees have grown a lot. At that time, I spent 25 thousand taka. After the trees grew, now there are trees worth about one lakh taka in this garden. Which is the main theme and future of my savings. Apart from that, I keep some savings in the bank which is useful for the vulnerable members of my family. And in the future plan, I will buy three auto rickshaws which will be driven on rent, that will be my daily source of income. I also have an electric shop from there, which is my source of income. Which is helpful in saving more for my family.

If spending all my savings in the bank to sustain myself in the difficult times of the future does not solve the problem, I am sure that I can solve my meaningful problems by selling plants as an alternative step. However, no matter how difficult the future may be, I will continue to try to maintain my morale and patience with courage. This is my biggest challenge.

05 Have you ever created a budget that would improve your financial situation? Show us practically how.

To deal with financial uncertainty, first of all I want to see myself debt free. Secondly, I want to save the savings that I have after bearing all the expenses in the bank. With that money, I will buy a land to improve my financial condition. Which will improve the future of me and my family. However, in the future I will buy three autorickshaws. From this budget, my daily income will be 1500 taka, whose steem value is 278.72 steem.

Moreover, I have kept a bank in my house where I deposit money every month. I will make a large amount of this special deposit and that money will be helpful in buying a land. But here I am presenting my complete theory and special plan in practice. Which will play an important role in this plan. I am showing you this special bank.

06:-What advice would you give to others for great budget planning?

For this particular excellent budget plan, I will definitely give you some tips that will play an important role in your future projects and savings.

First, save some money 💸 from what you earn and save it in a mud bank. Or plan for saving and saving money.
Set specific business goals that will be a source of future income.
Decide on your future priorities and expenses. Which are within your control and plan.
Plan your income source by taking risks in any business.
Make sure you make the right decision, such as buying five hundred acres of land. Save money according to such a plan.
You can do business along with your job. Which will improve your budget plan.
Of course, check carefully before planning a budget. Before giving a budget, plan with your family first and check again well.
Of course, you will set a time frame for income and expenses. Which will be included in your budget plan.
Also, keep an annual income and expense account of the business you will do.
If you cannot do it yourself, plan a budget plan with others.

Here I am inviting three friends to participate in this special interesting experience contest. Which is part of our daily life savings and spending activities. @wizzyking @mannylee @abasboy I definitely wish you all success here. May your participation be beautiful.

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