Wish you All a Very Happy New Year, 2017. May this year be
more fruitful and comforting, this is my prayer for everyone, including me.
We all have heard the adage, “LIVE LIFE TO THE FULLEST” & the song pictured on
Rajesh Khanna, “Zindagi, Ek Safar
Hai Suhana, Kal Kya Ho Kisne Jaana”
has allured people to live life Bindaas, keeping the worries aside and
many seriously follow this track.
Even I follow the same but seriously not on terms of Finances,
else we are bound to stuck somewhere in life.
                                                           
Finances is something that one needs to plan according to
the needs and for emergencies, that doesn’t mean that you can’t spend on
superfluous things or on luxuries or on the cravings that one has.
The cravings of spending differs from one individual to another.
Some are keener to spend on entertainment, clothes, books, travel, leisure etc.
The basic needs of food, basic clothing (not required every
month), rent, education, health can’t be curbed, it has to be fulfilled and
further we need to keep stack of amount for the emergencies and tough times.
The basic & emergency needs are more or less same for
all individuals only the capacity to spend depends on one’s earning &
lifestyle. The variation is more in the context of lifestyle expenses and there
comes the need to BUDGET to overcome the habit of over spending or buying for
no reason.
                                                                    Source
How I move with my Finances:
As the message beeps in, a wide smile spreads that finally
the amount is in. We know that we are bound to receive each month, still the
mind lurks for the beep, isn’t it amusing?
I maintain an excel file, wherein the expenses are mentioned
in one row, just I need to add in the break-up of amount as per the needs,
wherein maximum is to make the pay-out to different categories such as grocery
items, newspaper, flat maintenance, petrol, fees & medicines.
A fixed sum is subtracted from the major part to fulfill these
basic needs, and then it comes the investment part, wherein we need to pay for
the premiums, regular deposits, SIP’s & MF’s. All are not monthly
investment but I spare the amount on monthly basis to be rid of huge expenses
at one time. This way, it is planned and we don’t need to take tension to
accumulate the required amount.
The amount that is spared after meeting both ends that care
of superfluous needs, I say superfluous because even without spending on these
items, we can survive.  Still we meet
those expenses to taste the better taste of life and to live life to the
fullest and we earn to live a better life so we need to spend on our hobbies
too.
In my list, to savor cravings, my list tops with clothing,
my wardrobe is full still I indulge in buying clothes for myself and family and
I have weakness for fabrics which includes, bed sheets and curtains too along
with clothes.
Second position is of books & Wi-Fi & Dish TV
package, wherein I spend a fix amount each month. I have kept these in luxuries
n comforts item, because in case of financial crunch, we can do without it.
Third comes the contribution in Social events, at times, it
becomes compulsory needs but if I accumulate amount under this head every
month, then we don’t need to feel the heat of it.
Fourth in my list is Travel and now after getting freed from
responsibilities of kids, I keep a part of it to travel and this craving of
Travel has taken lead now and I am spending a good amount of it, so I save an
amount to meet the needs of travel.
This is my way of planning budget, what is yours?
Do share so that by exchanging views, we can learn more.



Linking this post with @misra_amrita and @Deepagandhi1 for #MondayMommyMoments

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