Hello dear friends,

How are you? Hope you are all well by the grace of Allah. I am also fine by the grace of Allah. Today I'm here to be a part of this beautiful contest Steemit Challenge Season 32 Week 02|| "Real Life Problem Solving Challenge: Budget Planning." I like to thank @ahsansharif sir for bringing a beautiful challenge to us. Now I am going to submit my entry.

At present, everyone is suffering from more or less an economic crisis. In this critical moment, it is absolutely necessary to prepare a strict budget to keep the family, children, parents, and everyone alive. Honorable host @I thank you once again, and I am starting my budget discussion.

I am a salaried person, I get my salary only once a month, so my budget is in a monthly form. Whenever I get my salary, I discuss it with my wife. We review what the urgent matters are. Then I prepare my monthly budget. While preparing the budget, the matter that I give the highest importance to is the education sector of my children. I decide in consultation with my wife how much can be spent in this sector. Because my wife has all the information about the needs of the children. Then I give importance to health and medicine. In this sector, I keep a reserve of money every month, so that I do not have to face financial problems if I have to visit the doctor at any time unexpectedly, so this is a fixed budget when making my budget.

My diary where I make a plan for the monthly budget
There are some other fixed budgets, such as house rent and utility bills. Finally, I give importance to the food budget. I believe in one thing, I have to live on my income is. So while making a budget, the food budget is at the bottom on a priority basis.

I am too busy to make a monthly budget

Since I am a person with a fixed income and have to support my family and pay for my children's education expenses with the salary I receive at the end of the month, I have to make a lot of calculations and prepare a budget. And I have to follow them.
I follow two methods to determine how much has been allocated in the budget and how much has been spent. First, I use a diary to prepare the budget, in this diary, I record all my detailed expenses. Then I adjust them with the budget book. Second, I have a desktop. There, I keep an account in an Excel sheet. This makes it easier for me to implement the budget.

My budget planning diary

My desktop, where I make my monthly budget plan

I am a family man, and my monthly income is fixed. It is difficult for me to run the family on this income. Therefore, I always try to refrain from unnecessary expenses. Even then, I have to incur many expenses unexpectedly that are unnecessary or over budget.
For example, for the Steam Atlas map, I often have to go far and wide to review different places, go there and back, but I have to do some shopping, eat food. If I post these reviews, I may or may not earn income. The whole matter is uncertain, but even with a limited income, a lot of money is spent, which can be immediately counted as unnecessary expenses.
Exchanging views with friends, meeting them, traveling to different places, eating at restaurants, etc., are unnecessary expenses for people with low income like me. But many times, I cannot avoid these.

My budget planning diary
Socializing is a very big unnecessary expense, which is impossible to avoid despite many efforts. Today, someone's birthday, or some cultural event is always happening. Participating in these events means spending money, which is unnecessary in my opinion, because I do not have the budget to go to these events, and then I have to attend many times.

This is a very realistic and important question. There is a war going on all around; everyone thinks that the days ahead are going to be difficult, so some savings have to be made for those difficult times. I have been doing it regularly.
I save 5000 taka from my salary every month, thinking about future dangers. I have started two dps in two different banks, where I give 2000 taka each, totaling 4000 taka. Also, I save 1000 taka every month in a multipurpose society. I believe that this will play an important role in my emergency.

For future crises, I deposit 5000 taka per month
I also blog on the online platform Steemit. I have accumulated a lot of Steem there, and it is constantly being accumulated there. Along with this, I am keeping enough Steem in my Binance account so that I can use it in future emergencies.

I make my savings in the bank for future crises

I make a budget within my means. I don't know how successful I will be in the future, but since I shouldn't make a budget beyond my means, I don't try to do that. For example, I save 5000 taka every month. In five years, I will save 30000 taka. This is not enough money to improve my situation. But if I add my SteemIt income to this money, then I believe, God willing, I will be able to improve my situation.

My online income for future financial improvement

A budget depends on the income of each person. He sets the budget according to his income. In my opinion, the things that should be kept in mind for budget planning are-

• The budget should be made in a way that benefits the family.
• The budget must be made based on income. It is better to spend less than the budgeted amount, but you should never spend more than the budgeted amount.
• The budget must be realistic.
• The budget must include savings options by considering future risks.
• The most important thing is not just to make a budget; it must be implemented.

Always make a practical budget for better life

Here is the link of the comments-

Comment Link
Comment Link

I invite three of my friends to join the challenge

@abdul-rakib
@uzma4882
@pea07