THE ART OF BUDGETING
The art of budgeting is a way to adjust our financial budget. We have to assess our personal and financial situation, we have to discern which is need and wants. We must to set personal and financial goals, create a budget for fixed and variable expenses based on projected income, monitor current spending, compare our budget to what we have actually spent, and last review financial progress and revise budgeted amounts.
Set personal and financial goals, for example like me. My educational goals that I would complete my bachelor of economics and then I will try to find a scholarship opportunities for continue education accounting profession. But, if I don't get a scholarship I will work to be able get enough money, because the education accounting profession are quite expensive. So, I have to work harder and I had to look for additional income. I will try to open a small business snack foods such as making, selling, and taking orders cookies, cake, and pudding. To increase my income so that in a period of moderate I've been able to have the money to continue my education accounting profession.
After I was completed my study, and working in office as convincing like BUMN or other big company, I want to buy a car. So, I can be comfortable to carrying around town with my family, without should overheat during the heat and rain when it rains. I want to buy automatic car with color and design that I like, and body car have such a high enough. So, I don't worry if the event of floods in the street. To get a car that I have to save my money, in the long term that I have to brush around 40 percent (%) of my salary income. I have to saving my money for down payment and credit repay the cost of car are with 40 percent (%) from my salary income.Other than I am going to buy a house that location strategically in the city, resulting in a fairy long term I had to save money to buy a house, I have to insert in the bank every month some 30 percent (%) of my salary income after minus with car payment. So, I had to downsize because of the two payments should I pay, must reduce unnecessary spending. After I finished my car payment, then I add the budget to buy a house about 50 percent (%) of my salary income.
| net income | budget | actual | difference | ||
| accountant salary | Rp 10.000.000 | Rp 10.000.000 | Rp - | ||
| selling dessert | Rp 5.000.000 | Rp 5.000.000 | Rp - | ||
| auditing insentif | Rp 15.000.000 | Rp 15.000.000 | Rp - | ||
| total monthly income | Rp 30.000.000 | Rp 30.000.000 | Rp - | ||
| expenses | |||||
| fixed regular expenses | |||||
| Rent | Rp 1.500.000 | Rp 1.250.000 | Rp 250.000 | ||
| Car Payment | Rp 4.000.000 | Rp 4.000.000 | Rp - | ||
| fixed irregular expenses | |||||
| savings for house | Rp 5.000.000 | Rp 3.000.000 | Rp 2.000.000 | ||
| food | Rp 4.500.000 | Rp 4.500.000 | Rp - | ||
| utilities | Rp 1.500.000 | Rp 1.250.000 | Rp 250.000 | ||
| transportation | |||||
| gas and oil | Rp 2.500.000 | Rp 2.400.000 | Rp 100.000 | ||
| parking and tolls | Rp 900.000 | Rp 825.000 | Rp 75.000 | ||
| repairs | Rp 1.500.000 | Rp 1.500.000 | Rp - | ||
| other | |||||
| medical expenses | Rp 2.500.000 | Rp 1.760.000 | Rp 740.000 | ||
| clothing | Rp 1.500.000 | Rp 1.425.000 | Rp 75.000 | ||
| entertainment | Rp 500.000 | Rp 500.000 | Rp - | ||
| household | Rp 4.100.000 | Rp 4.050.000 | Rp 50.000 | ||
| total monthly expenses | Rp 30.000.000 | Rp 26.460.000 | Rp 3.540.000 | ||
(after I finished my car payments)
| net income | budget | actual | difference | |
| accountant salary | Rp 10.000.000 | Rp 10.000.000 | Rp - | |
| selling dessert | Rp 5.000.000 | Rp 5.000.000 | Rp - | |
| auditing | Rp 15.000.000 | Rp 15.000.000 | Rp - | |
| total monthly income | Rp 30.000.000 | Rp 30.000.000 | Rp - | |
| expenses | ||||
| fixed regular expenses | ||||
| Rent | Rp 1.500.000 | Rp 1.250.000 | Rp 250.000 | |
| Car Payment | Rp - | Rp - | Rp - | |
| fixed irregular expenses | ||||
| savings for travelling | Rp 4.000.000 | Rp 4.000.000 | Rp - | |
| savings for house | Rp 5.000.000 | Rp 5.000.000 | Rp - | |
| food | Rp 4.500.000 | Rp 4.500.000 | Rp - | |
| utilities | Rp 1.500.000 | Rp 1.250.000 | Rp 250.000 | |
| transportation | ||||
| gas and oil | Rp 2.500.000 | Rp 2.400.000 | Rp 100.000 | |
| parking and tolls | Rp 900.000 | Rp 825.000 | Rp 75.000 | |
| repairs | Rp 1.500.000 | Rp 1.500.000 | Rp - | |
| other | ||||
| medical expenses | Rp 2.500.000 | Rp 1.760.000 | Rp 740.000 | |
| clothing | Rp 1.500.000 | Rp 1.425.000 | Rp 75.000 | |
| entertainment | Rp 500.000 | Rp 500.000 | Rp - | |
| household | Rp 4.100.000 | Rp 4.050.000 | Rp 50.000 | |
| total monthly expenses | Rp 30.000.000 | Rp 28.460.000 | Rp 1.540.000 | |
After all the car and house payments was completed. I will accomplish the my family goals. I would carry my parents for travelling well outside the city and abroad, for that I will put aside my money to make our passports, bought our plane ticket, the cost of lodging, meals and to buy souvenirs from there. This travelling to refresh me and my family of our tired daily activities. I going to go to Beijing, Taiwan, and Korea and enjoy the winter there. I have to save money about 30 percent (%) of my salary income in the period that we are already able to go there.
Current source of income at the moments is my parents. However, I have learned to make money by working part-time as an accountant operation at a clinic. I'll be more usual and can obtain my own funding sources with the result of hard work and I can realize my goals. All of that can be realized with a custom pattern right on budgeting, that we have to downsize in the sense that we buy what the needs are important not just be a desire alone. And if we can use the item without having to bu another so that the budget can be used for other purposes.
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