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Friday, 10 February 2017


So I always thought I knew how to handle money until I grew up and noticed that most of my money had been spent unaccounted for and I had nothing to show for it mostly.

Some of it I'm sure, I used for very important things and I wouldn't change it if I had the chance to choose between spending the money for those things or not.

For a long time, I had heard about budgeting but for some reason, I never really came around to applying it. So near the end of 2016, I decided to consciously implement budgeting to my financial life


"a quantitative expression of a financial plan for a defined period of time. It may include planned sales, volumes and revenues, resource quantities, costs and expenses, assets and liabilities and cash flows"

- To simplify this, I'd define it as a picture image of what you did with your money over a certain period of time-

So after implementing budgeting 2 months down the line, I noticed a few significant things.

1. I spend lots of my money on things I deem important but I need to do a reevaluation.

2. I spend money on things for others more often than for myself (Good or bad depending on how you see it)

3. My money could be spread out more than I am doing now.

4. I save way less than I earn

5. I could do financially better than I am now by applying more wisdom in my spending

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In the end I've noticed that I'm not as good with managing my finance as I thought I was and definitely need more education in that area.

And so one of the things I've resorted to doing is to watch more online videos on money management and read more books on finance to improve, one of which is RICH KID SMART KID by Robert kiyosaki which I'm currently reading.

So some of the tips I've learnt on money management so far are, 

  • Budgeting on excel- This gives you a picture image of what you've done with your money over a period of time
  • Learn to save- Emergencies are inevitable and you want to be ready for whatever may come your way as stated in Matthew 25 about the 5 wise virgins who had enough oil in their lamps and were ready when the bridegroom arrived. 
  • Build an emergency fund- 1 to 3 months savings which you build over time and will only touch when the situation is dire, e.g. Job loss, etc. It doesn't matter how small the money is. save it, for "little drops of water make a mighty ocean"
  • Whatever God gives you, make good use of it. don't waste it. Plant it with your actions so that it can bear fruit. The same can be said with money. Use it wisely and it'll grow, waste it and you'll lose.

So hopefully by the time I'm done I'll have a more improved view of the importance of money, how it works and what I can do to manage mine better.

I hope this post is helpful.
Thank you and have a lovely day.


  1. So true,it's so hard to save and yet we spend money on meaningless things.Good read,defo food for thought,thanks

  2. Glad it was of some help. you're welcome.


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