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Filipino Budgeting Basics for you! How to budget your time and your money earned while blogging from home Philippines, working to earn big cash online!

Let us start  with Filipino Basics of Personal Budgeting (Budgeting Concepts). Here I am your great Pinoy financial adviser, no joke this is part of Financial Planning category to be added soon here. Eh, building the blocks of a future good blog.

What is a Budget?

A budget is a determinable breakdown or plan of how much money coming in your hands or in your wallet/pockets/savings bank and where does this money goes.  Budget primarily deals on money allocation, were money is used for a given period of time and for a particular purpose.

Let us define Budgeting, and here is Filipino definition of budgeting;

I asked my younger brother : For you what is budgeting.. Hey bro, can you define that word in your own?

Budgeting is allocating money revenues for expenditures.

I also asked my mom : Mommy, can you define budgeting?

Mom answered me….

I sent you to collage, until now you can’t define that word on your own?

So, I ended up writing my own.. and here are the definition list;

• Well for me, budgeting is a proper management of wealth resources (how you deal on expenses and earnings) and proper  scheduling to achieve desired goals in time in a systematic financial planning.
• Budgeting is allocation of money for your expenses and savings from your earnings. Through good Financial Plans you can use more of your budget to prepare yourself financially free from debt and bankruptcy!
• Budgeting is a planned allocation of money, wealth expenses and revenues.
• Budgeting is your way to financial stability.

Budgeting Time. I’m blogging every free time, I have after school classes! I spend 2 to 3 hours a day blogging, the rest is for sleeping, studying, eating, playing and doing some chores at home.

You may raise this questions :

How far will my money go?

How long will I spend my wealth?

My answer to that question is… depend on how you “BUDGET”.  Managing Money – Budget Basics plus Budgeting Time skills!

Personal finance budgeting is one of best life skills, your knowledge on budgeting basics may lead you to financial success. Always track your earnings and your expenditure, this is a very important budgeting tools you should consider.

What you need to know about  Budgeting? Tips on budgeting!

Are you a blogger, having blogging business? Did id you make money online  blogging for some quite time? Did you receive your earnings already? Dou you apply budgeting skills doing this blog biz? You need to keep track of your income and expenses records. To know if you are doing well making money online or whether you are struggling to pay your bills online.

The most essential step of budgeting is to write down the actual number figures.

Tracking Income: Like for example, your first / monthly check payment received after making money blogging: you got  one hundred dollar. List it as 100 $, not 1.00 dollar ok! Budgeting 100 dollar make more sense if you are able to see the actual figures 100 $ (one hundred specified money in dollars). All you need to do is to reflect that correct amount on your budgeting spreadsheet or budgeting program forms software. This may help you to figure out what is your actual earnings are every day, month,  or in a year plus any other sources of income you have, just write-down the correct figures.

The second step of the basics of budgeting is…

Tracking Expenses : Consider too your expenditures – collect well all your bank withdraw transaction slips, web hosting bills, receipts and bills pertaining to payments on car installments, unpaid credit card bills,  rentals, house mortgage, and etc.. just jot it down to your notebook in a concrete list this helps you see exactly where your money is going every month.

Final Step line on Budgeting!

Now you can determine exactly what is your real budget that fits your life style! You have all of the information needed to build or create your budget. Wee, total up all your monthly income as well as your monthly expenses. Next, subtract your total expenditures from your total income and you’ll have  a result net-income either a positive or negative number net income! Did the result you have a positive number? Well if you get positive, congratulations dear, you are living less than what you earn.  A lifestyle that can lead you to save more money and invest your extra money in something that is worth it! Well, if you got negative dear, don’t worry. You’ll  be able to identify your financial deficiencies, and this might help you how to resolve them immediately by building an emergency fund for unexpected situations and emergencies. With that fund, you can still continue indulging your self in many of your favorite activities at times  financial difficulties however at reduced expenditure frequency.

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This entry was posted on Tuesday, September 15th, 2009 at 12:56 am and is filed under Budgetingyourmoney, Economy, Financial Planning. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.