Managing an income is like getting familiar or having a deeper understanding of a game. It comes with strategy and for one to achieve this you have to discipline yourself and be mindful on how you spends your income. Based on this week's contest on how to manage our income, I will like to narrate to you all how I manage my income and how it has helped me in life so far.
As a monthly earning, in a month I earn one hundred and fifty thousand (#150) as my salary. I have a book or jotter where I jot down the essential things I need for the month before the salary arrives. In the list I have, I write down the amount for my transportation fare, the same with my groceries and food stuffs that will last for the month, how much I will send to my parents for upkeep, the one I save in my other account for my house rent and I will save some money in my piggy box.
The idea of saving money in my piggy box have been so helpful I must testify there I save my money and I will break it at the end of year and I use it for important things or investment and from there complete my house rent for the year. if paraventure I have a little money left, I will use it and give myself a little treat as fun.Theres what they call scale of preference in economics I learnt in secondary school, you settle for the most important. So sometimes any expense I didn't achieve fully as planned will be moved to the next month. No unnecessary fun and careless spending everything is under checked.
All these I learnt from my mom, when it comes to managing income, she is very good at that and I learnt a lot from her, and which has really helped me a lot in spending, once my mom receives her salary for the month, she has already planned how will manage her salary. She will get food stuff that will last us for the month, clear her outstanding dept and bills and save the one for raining season should in case there is an urgent emergency. One thing I like about my mom is that she doesn't lavish her money on unnecessary things. She focus on things that will benefit the family. No time for careless fun.
In conclusion, for us to manage our income, we have to know how much that comes in as income, control our spending by taking care of the things we mostly needed at the moment, also save for emergency and lastly have fun strictly on budget.
Thanks for reading this far and stopping at my blog 
Images are mine.
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