“Budget thy expenses that thou mayest
have coins to pay for thy necessities, to pay for thy enjoyments and to gratify
thy worthwhile desires without spending more than nine-tenths of thy earning.”
Arkad was asked, “How can a man
keep one-tenth of all he earns in his purse when all the coins he earns are not
enough for his necessary expenses?”
Although most of his students
carried a lean purse the other day, yet they do not all earn the same. All
purses are equally lean, may it be that they are supporting a larger family or
a single. Now Arkad told of an unusual truth about men and sons of men; that
what each of us calls ‘necessary expenses’ will always grow to equal our
incomes unless we protest to the contrary.
We should not confuse necessary
expenses with our desire. We are driven by our desires that sometimes beyond
our means. We have more desires that even though we gain some of it we still
want more. All men are burdened with more desires than they can gratify.
Therefore, we have to select
those that are necessary and cross out the rest and considered them but a part
of that great multitude of desires that must go unsatisfied and regret them
not.
Budget your necessary expenses
without touching the one-tenth that is fattening your purse. The purpose of a
budget is to help your purse to fatten.
At the onset of me being an OFW,
I already started to make a budget. I have budget for my remittance, house
rent, utilities, food, transportation, prepaid load, and other miscellaneous
items. Most of the budgeted amount are fixed amount and should be paid on a
monthly basis. Knowing that I have a monthly expenses of this much; I already
know how much money I will still have after paying all my expenses.
Budgeting should not be a
complicated task and should not be considered as a burden. Budgeting allows us
to systematically allocate resources to meet our current and future needs. It
will assist us in paying our necessities, pay for our enjoyment and gratify
worthwhile desire without spending more than 80% of our earnings.
Some people think that budgeting is
hindering us in enjoying the pleasure of earning our own money, but in reality
it helps us in determining our needs versus wants. It will simplify our lives
and we will be discipline to purchase only the things that we really need rather
our wants (at the moment).
We should know the value of
making and following a budget. Like saving, budgeting should also become a
habit for people who want to be financially abundant. We can control our
expenditures by having and setting a budget and sticking to it.
You may also read:
Increase thy ability to earn
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