Read on Twitter
PERSONAL BUDGETING THREAD 
Hi guys! Thanks for participating in the survey!
As promised, here's a thread on personal budgeting, and I will include a link for the personal budgeting template at the end of this thread for you guys!
IG: http://instagram.com/thebrownandcurlybabe
Hi guys! Thanks for participating in the survey!
As promised, here's a thread on personal budgeting, and I will include a link for the personal budgeting template at the end of this thread for you guys!
IG: http://instagram.com/thebrownandcurlybabe
To understand personal budgeting better, read this -- the simplest budgeting rule: the 50/30/20 rule.
The 50/30/20 rule is the simplest budgeting technique for beginners.
50% Needs
30% Wants
20% Savings https://twitter.com/shakilarosesam/status/1288399052678168576?s=20
The 50/30/20 rule is the simplest budgeting technique for beginners.
50% Needs
30% Wants
20% Savings https://twitter.com/shakilarosesam/status/1288399052678168576?s=20
Remember: Personal finance is subjective and you should be able to tweak and adjust the percentage according to your own preference. Personal finance is influenced by different lifestyle, income, commitments, wants, needs, and so on.
Identify your wants and needs before you start budgeting! This is a very important step okay guys! Again, wants and needs are different for everyone, so you have to identify them yourself. Read below to know how to distinguish between the two - https://twitter.com/shakilarosesam/status/1290215473842237442?s=20
You have to prioritize your needs first.
Needs include rent, utilities, loan repayment, food, and the things that you need and depend on to survive.
Wants are influenced by your desires for things. You don't necessarily need them to live. Wants are merely, wants.
Needs include rent, utilities, loan repayment, food, and the things that you need and depend on to survive.
Wants are influenced by your desires for things. You don't necessarily need them to live. Wants are merely, wants.
And then you have to identify your savings portion! Ada 3 common types of savings that you should have:-
-personal savings
-emergency savings
-retirement savings https://twitter.com/shakilarosesam/status/1292702775038472192?s=20
-personal savings
-emergency savings
-retirement savings https://twitter.com/shakilarosesam/status/1292702775038472192?s=20
The first common type of savings is, of course, Personal Savings.
The breakdown of your personal savings should be like below:-
-short term goals
-medium term goals
-investments (important for long term) https://twitter.com/shakilarosesam/status/1293505222279458816?s=20
The breakdown of your personal savings should be like below:-
-short term goals
-medium term goals
-investments (important for long term) https://twitter.com/shakilarosesam/status/1293505222279458816?s=20
The second one is Emergency Savings
Make sure you all ada emergency fund! Emergency fund ni penting untuk rainy days. If you want to know how much you should save up, refer to the recommended months based on age group below. https://twitter.com/shakilarosesam/status/1295590829004709888?s=20
Make sure you all ada emergency fund! Emergency fund ni penting untuk rainy days. If you want to know how much you should save up, refer to the recommended months based on age group below. https://twitter.com/shakilarosesam/status/1295590829004709888?s=20
The third one is Retirement Savings
Even though lama lagi, it's best to start young! Your money can accumulate and grow.
Example of a retirement fund in Malaysia is EPF/KWSP. https://twitter.com/shakilarosesam/status/1298437828381044737?s=20
Even though lama lagi, it's best to start young! Your money can accumulate and grow.
Example of a retirement fund in Malaysia is EPF/KWSP. https://twitter.com/shakilarosesam/status/1298437828381044737?s=20
Okay so now if youall dah faham, boleh implement the 50/30/20 budgeting rule
The ratio like I said boleh adjust according to your own sebab not everyone ada the same lifestyle, commitments, and income. The 50/30/20 ratio serves as a basic guideline je for you to start somewhere.
The ratio like I said boleh adjust according to your own sebab not everyone ada the same lifestyle, commitments, and income. The 50/30/20 ratio serves as a basic guideline je for you to start somewhere.
If nak stick to 50/30/20 pun boleh, ikut suka. Bila dah lama and rasa nak adjust, adjust. Make budgeting fun and flexible! Don't treat it as a burden. Sebab tu banyak taknak buat budgeting every month.
And jangan la deprive yourself from your lifestyle. Boleh budget sikit to ac-
And jangan la deprive yourself from your lifestyle. Boleh budget sikit to ac-
and jangan la deprive yourself from your lifestyle. Boleh budget sikit sikit to accommodate. Life is meant to be enjoyed and we're here for a good time! Hehe
Bila pandai budget every month, semua boleh buat!
Bila pandai budget every month, semua boleh buat!
So, here's a link to the personal budgeting template!
Ada 3 sheets:-
1st-an example! The flow is from top to bottom. Don't complicate it
2nd-a template for you! Dah ada functions dah senang nak guna
3rd-printable template! Kalau prefer hardcopy print la~
http://bio.fm/shakilasamarasam
Ada 3 sheets:-
1st-an example! The flow is from top to bottom. Don't complicate it
2nd-a template for you! Dah ada functions dah senang nak guna
3rd-printable template! Kalau prefer hardcopy print la~
http://bio.fm/shakilasamarasam
If tak faham and need my help to guide you or need some advice on budgeting, you can always DM me. My DM is always open for you all!
Have fun budgeting!
xx, Shakila Samarasam
IG: http://instagram.com/thebrownandcurlybabe
Have fun budgeting!
xx, Shakila Samarasam
IG: http://instagram.com/thebrownandcurlybabe
