Create a realistic monthly budget

[Starmix]

To manage our finances, we are required to create a realistic monthly budget. It means to say that we have to make sure that our budget is reachable, It is best to always apply the 50-30-20 rule to guide us, that despite having a realistic budget, we also set aside 20% of our earnings for savings. Buy only what is essential, the daily needs, and not what you want to buy for they are not as important as the daily needs. Let us be wise in our budgeting to have better financing.

 

[Teephe]

I am trying to work on this for myself as i have no savings at all which is very bad. But seeing this post now will boost my energy in having savings as it can help during raining days.

 

[Starmix]

I am trying to work on this for myself as i have no savings at all which is very bad. But seeing this post now will boost my energy in having savings as it can help during raining days.

It is very important to have a budget and in case we can not follow the 20 rule, at least there is 8 % of the total gross of our income and sooner that percentage will increase rather than no saving at all, it is very crucial.

 

[Suba]

The 50/30/20 formula or method is very well known as a personal financial budget method, where we must allocate 50% for monthly needs, 30% for desires and 20% for savings and investments. But will the 50/30/20 method be effective if we apply it to everyone?

 

[Starmix]

The 50-30-20 method is proven by experts effective but only few people are following this especially this time when prices are skyrocketing. People cannot almost save and if they save their income is sufficient enough to set aside the 20% for saving.

 

[Suba]

That's right, the 50-30-20 budget method has been tested by experts but the budget is not mathematics that must be applied exactly the same as the example, in the budget is only an estimate and will not be effective or suitable especially for those who are new to work with small salaries, whereas rent housing is very expensive, food costs, transportation costs so that 50% is not enough to meet their living needs in one month. So they have to change the method, for example to 70-20-10.

 

[Kirubel]

Before i graduate from collage everyone used to save from their monthly salaries and things were good, but now its hard to have money that we can save, especially we new workers who have no experience get paid very little amount of moneys.

 

[Starmix]

Before i graduate from collage everyone used to save from their monthly salaries and things were good, but now its hard to have money that we can save, especially we new workers who have no experience get paid very little amount of moneys.

Why are new workers paid small? Is there no uniformity of salary? That sounds unfair. Ours here, there is a standard salary rate. It is not imaginary only. It is based on the law.

 

[Kirubel]

Why are new workers paid small? Is there no uniformity of salary? That sounds unfair. Ours here, there is a standard salary rate. It is not imaginary only. It is based on the law.

Every new graduates with no experience get small payments, this is known thing in the country, since there are a lots of experienced peoples we can't get jobs so we work for small money till we get good experience. but as the experience increase the payment also increases.

 

[Starmix]

Every new graduates with no experience get small payments, this is known thing in the country, since there are a lots of experienced peoples we can't get jobs so we work for small money till we get good experience. but as the experience increase the payment also increases.

It is unfair to receive a small salary if new employees, companies here have salary rates new or not the same salary rates except the tenured.

 

[Kirubel]

It is unfair to receive a small salary if new employees, companies here have salary rates new or not the same salary rates except the tenured.

Since we don't have any choice we accept it and work, the neighboring countries have good salary for their workers compared to my country.

 

[Starmix]

Since we don't have any choice we accept it and work, the neighboring countries have good salary for their workers compared to my country.

My brother works abroad and my nieces and nephews too. They are brave and never feel afraid to work as nurses in foreign lands.I admire their guts and courage. They are strong individuals.

 

[Kirubel]

My brother works abroad and my nieces and nephews too. They are brave and never feel afraid to work as nurses in foreign lands.I admire their guts and courage. They are strong individuals.

They are strong working in foreign country without fear, personally i want to study my masters in foreign country, but unless i get a scholarship the tuition fee is very expensive.

 

[Starmix]

They are strong working in foreign country without fear, personally i want to study my masters in foreign country, but unless i get a scholarship the tuition fee is very expensive.

You apply for a scholarship online. It's good to study in Japan. It takes 6. months to finish a masters degree course. It's good to create a monthly realistic budget including your personal plans.

 

[Kirubel]

You apply for a scholarship online. It's good to study in Japan. It takes 6. months to finish a masters degree course. It's good to create a monthly realistic budget including your personal plans.

Only 6 month? that is very amazing, what about other accommodations is it chip to cover it by my self. like house and food.

 

[Starmix]

Only 6 month? that is very amazing, what about other accommodations is it chip to cover it by my self. like house and food.

You apply for a scholarship and check their offers on the web, they might have changed their programs. Check it as soon as possible so you can make a realistic budgetting for your expenses there.

 

[Kirubel]

You apply for a scholarship and check their offers on the web, they might have changed their programs. Check it as soon as possible so you can make a realistic budgetting for your expenses there.

Thank you so much for letting me know that, i will try my best to get the scholarship.

 

[Starmix]

Thank you so much for letting me know that, i will try my best to get the scholarship.

You inquire first and if you'll pass the requirements that's the time to start budgeting. You need to have a realistic budget so that when you're already there you are prepared.

 

[Kirubel]

You inquire first and if you'll pass the requirements that's the time to start budgeting. You need to have a realistic budget so that when you're already there you are prepared.

I think the requirements are English proficiency tests and recommendation letter and letter of inspirations are required by many scholar.

 

[Starmix]

I think the requirements are English proficiency tests and recommendation letter and letter of inspirations are required by many scholar.

I do not know, but as much as possible inquire on the web through search engine. I think they only want your TOR, visa, Better do it as soon as possible to know the dates of their admission. There is no exam required.