Top 5 Techniques For Personal Budgeting and Saving Money

Last month, the company that I work for paid us our December salary on the 20th so that we can enjoy the holidays with some cash at our hand. Fast forward today at lunch, me and my collogues were taking about how long it has been since the last time we got a pay check --- exactly 28 days, and most of us our pockets are empty. This is an unusual situation but it doesn't only concerns people working for a salary; for those who own businesses there are cash-boom and cash-dry periods as well. In any case, those are the times that a cautious saver might fall back to the piggy bank, your saving accounts, or even better get money from your second or third hustle.

Whatever you do, you need to careful plan ahead and to have a finance discipline  that is achieved by but a few people yet it's easy for everyone to apply. It is an essential skill in life not taught in schools, fortunately you can learn from practice and from experiences others. These 5 techniques I'm sharing below will help to guide you and you can build on them to start your personal finance journey. . However, they should be contextualized and adjusted to your own situation since there is no one-size-fits-all standards for managing your finances, whether it’s your savings, budget, retirement planning, or anything else. 

1. Differentiate your wants from your needs

The sad truth is - you can't have it all, and trying to do so it's fairytale and an endeavor bound to fail.