February 6


Where Did My Money Go?

Being “on a budget” does not sound appealing to most millennials. This can be attributed to the YOLO culture. To keep up with it, one must be more than willing to go with the flow and spend everything he/she earns to all the nicest food, place, and things you can ever think of, especially when your friends would come along. Why not? It is cool, fun, and you definitely don’t want to get left behind! WRONG. Again, I would like to reiterate that I am not against spending your hard-earned money to enjoy life. What I’d like to point out here is that we must be responsible for all our earnings and spending.

Gone are the days where we will always have Mom and Dad, or Tito and Tita, Lolo and Lola to run to if we end up broke and needed some money before our next paycheck arrives. Yes, they will always be there to support us when we need help financially, but wouldn’t we make them more proud if they see that we can handle our own finances well?

A budget ensures that you will always have enough money for the things you need. Budgeting now that your income is relatively small can help you significantly when your income increases in the future. What are your recurring expenses? Rent, utility bills (electricity, water, internet, mobile data, etc.), phone payment, car payment, food, gas, toll fees, etc. List down everything that takes your money. Track other expenses that are not listed as recurring and see how much you could save if you follow your spending based on your budget.


Emerging Rich TIP: Establish your own budget plan and stick to it. Make adjustments the next month when you are already over budget for the current month.


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