FINANCIAL BUDGET IS VERY CRITICAL FOR BETTER LIFE OF 21st CENTURY.
By:. Linus Siwiti
linussiwiti212@gmail.com
Trained teacher From Tanzania.
Worth Noting:
Good start to emerging from the challenges of life hardships and taking daily steps and achieving success includes mastering or qualifying in the budget area. The days go by since we embarked on the journey of 2022 is a unique passion for every Tanzanian who is interested in development to succeed.
The strong winds and winds of life challenges facing citizens, public and private sector workers, business people, and everyone struggling to make ends meet are budgeted. A small percentage of them budget is not a problem because of the adequacy of money from the investment. That if good he can spend it all and tomorrow he wakes up penniless, and then goes looking for them again where the money left off. Here is a large group living on a one-day budget, including very low-income families, and those who engage in very comfortable activities such as alcoholism, lovers of those who like to spend money randomly.
Many employees, especially in the public sector, have found their lives to be inadequate and many of them have gone into debts, making it difficult for them to borrow more than one Bank or corporate. The biggest problem is the budget and salaries are not enough at all, and it has never happened that money can cover everything without being satisfied, when additional sources of income are scarce, you have agreed to live below the budget without being satisfied with the income.
Before we look at the reasons for the lack of budget, and getting into debt professionally it is known the debt prison as well as how to get out of prison and set a budget for living a happy and happy life and preparing for retirement. The main reason for this is the lack of a budget and the budget cannot stay the same if there is no sufficient funding. Reasons for lack of budget,
First of all, there is no division in spending, most people do not manage money but money lead them, there is an old adage “if you want to know the character of a person wait after having enough money” spending money by budget, called a good budget. Spending money as soon as it grows in your hands without a budget, you have definitely agreed to be guided by money, and you do not always see it as sufficient.
two desires, it is a good influence to get you into budgets that you do not plan, I do not say greed is a bad thing it will only get worse when it takes you to the wrong place. The same passion that gives hundreds of aspirations for success, is also what has led some to indulge in loans, for development, to build, to buy certain treasures such as a valuable car etc. Yet for thousands it has led them to not only development but also a very difficult life. If you want to understand this, try to stay in the loop with people who are in debts.
Thirdly lack of focus, where do you direct your money? It is true that you are struggling to make money with all your might, and no one is interfering with your financial freedom, but if you do not pay attention and have a long-term focus, remember today you are strong but, tomorrow you won’t be that strong enough to perform certain activities. Let us not be example of today’s elders who end up saying “in my youth I had a lot of money” you may wonder why he is poor now?
How to budget: I always say that if you want to know the importance of budgeting, refer to the challenge that has plagued the world since 2019, the Covid -19 epidemic. If Tanzanians are locked up, are tenants able to live for more than three months without working? I remember many people lost their jobs, business life was very difficult. We thank the late President of the United Republic of Tanzania, Hon. Dr. John Makufuli. The best way to budget your money is to focus on your daily, weekly or monthly income,
It is best to use a budget principle before dividing your money before you spend those money, can you apply the principle of this dividend of 50, 30, and 20 percent? in your income 50% should be spent on essential expenses, family needs, personal needs etc. Also 30 percent use it for investment and development and 20 percent use it for your Creator and save, for future use how do you do now to realize 50% equally and 50 divided by 100 becomes 0.5 you multiply by your income, and 30 percent is equal to 0.3 you multiply by your remaining income after giving 50% and 20 percent is equal to 0.2 you multiply with the remaining money after giving 30%. I wish you a good exercise in this area, spending money and budgeting before you get it is the bondage of getting into debt and high interest loans, having a budget is a sure sign of a successful life and I wish you a good exercise in budgeting. Basically everyone is free and with the use of sweat.
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