Payday Payday… Mayday?

photo grabbed from i.a.ccn.net

I always get the jitters when salary day is near. The thought of budgeting my own money scares the hell out of me. Being on my own changes a lot of things, the no-parents to catch me when I fall being the biggest one. In a way it’s a good thing because I am now actually learning how to spend my money properly and when I feel like spending I resort to some measures that I came up with.

1. Before salary day I list down all my NECESSARY expenses. This list includes:

• house/rental fees

• daily work allowance (including fare and lunch money)

• toiletries

2. On the day itself, I immediately set aside the funds needed for the necessary fees.

For my rent I pay it right away to my landlord, ask for a receipt then make a note about it in my notebook. I withdraw my allowance weekly, that way I don’t get tempted to spend more than what I have in my wallet.

3. Most importantly, I set aside money for savings.  

A 500 a month or even a 100 a month can go a long way. The money I save serve as my nest egg or emergency funds… The nest egg is an assurance that you will have money during unforeseen circumstances, from emergencies to treating friends who will be coming to Manila.

4.  The rest of the money is up for grabs… just kidding. I usually budget the rest for treats for myself which usually fall under the following categories:

• clothes, shoes, and bags

• gadgets – from flash drives to ipods

• vanity – e.g. bodyshop products. hehe.

• FOOD! – most of my money goes to food. what can I say… I love to eat!

There. It’s not as neat as it seems. This list serves more as a guide and yes… I do cheat a little. Haha!