Learn How To Create Your Own Art of Budgeting

Hi readers!

This second post is talking about The Art of Budgeting.

Before that the writer wants to say…:

I am sorry for disappointing you with the last post. To be honest, I barely make the posting 2 minutes before the deadline (Actually I am writing for my English assignment.)! And so my writing is bad and unorganized at all (sigh). But now that I’ve got everything under control, I am a bit confident that my writing is better than the late post. So, please forgive me? Tehehehehehee….. (OK, this feels awkward). Last but not least, please enjoy your reading. Thank you!

WHAT is the art of budgeting?

The art of budgeting, by my definition, is the way you estimate your future expense(s) over a specified period of time. Art of budgeting is related to one’s life goals. To find your own art of budgeting means that you have to know your own goals. Your goals are the determining factor in defining your art of budgeting.

First of all, you need to know your educational, social, financial, family, health/physical, and recreational goals. Second, you need to work with your goals by asking yourself, “What goals are the most important to me?” Write it and identify each goal as short term (1-4 weeks), medium term (2-12 months), and long term (1 year or longer). Finally, you need to list and prioritize six of your most important goals. After each goal, identify what you could be doing now to work toward the goal, and what resources (if any) you need to achieve each goal.

Here is the example: My educational goal is I want to finish my undergraduate program. My social goal is I want to join Accountant Student Community as a main member. My financial goal is to open up a course for elementary student. My family goal are to pay for remaking my family’s kitchen and to take care my aging parents. My health/physical goal is to keep training my shaolin kung fu. My recreational goal is to go to Maldives Island.

The most important goals to me are to finish my undergraduate (long-term), pay my monthly health insurance’s fee (short-term), pay for taking a kung fu shaolin test (medium-term), save money for caring my aging parents (long-term), and to open a course for elementary students (long-term). Now, what I can be doing now to work toward each important goal: study regularly, avoid buying unimportant things, keep working as private elementary part-time teacher, save my pocket money and just buy things I really need, and exercise my kung fu at home. The resources I need to achieve my goals are money (obviously), books, knowledge about how-to-achieve-things, strong willingness, self-control, patience, and definitely, actions. That’s it. Thanks for reading. 

Best of luck readers!