Money Management

Salam wrb,

I'm sure that everyone will agree if I say that money management is very important. This is especially during our first year of working as this is when we'll have bills to pay and many more. For me it is important that I plan and prioritise the things that I need to pay and settle before I shop (especially for those who has the tendency to overspend). I just want to share how I manage my salary as I learned this from my sifu - abah on how to make sure that I can meet end each month.

So this is what I do, first I'll make a list of things and the amount that I need to pay using microsoft excel (refer to the picture below). I'll write down the amount even if I have to pay the same amount every month. Next, I'll check if there is anything extra that I need to pay that month such as flight ticket, renew the roadtax, car service, etc. I'll write that down at the second section of my budget spreadsheet.

If you have a tight budget, write down everything that you have spent at the second part (perbelanjaan tambahan part). This helps because you'll know where your money went every month. This will also help you in your other months budget when you need to buy the same thing such as Dynamo, cooking oil because you know how much they cost by referring to the previous month. I'll 'bold' the number of the respected month once I have payed or transferred the money.

I find that by doing this each month, I can make sure that I have payed all the necessary things before I actually draw out the money and spend it on other things. It is also one way to make sure that I do not overlook any important bills.

Ok people, till then,
wassalam.