We do not make a budget based on our monthly income or salary.
A budget is a financial plan for everything you need in that month or quarter regardless of how much you make. Meaning the things you need in your life should be equal.
A budget will tell you the level at which you are operating or pamene uyendela broken down in months. If you met HH and he asked you, ” how much do you want?” You can’t mention your salary, no. So your budget is a breakdown of that figure you can mention without hesitation. The total things you need except that you can’t afford with your current income.
Lack of a proper budget focus for yourself can make you go on a mountain for prayer and fasting and only start asking God to give you money to pay rent. Listen my brother, your pressure is not k1,500 for rentals but k450,000 to build a house.
Someone can ask me like why have a k500,000 budget when my monthly income is k6,000?? Its very important and it gives you more reasons to work hard. Its the reason why some people don’t get excited when they get travel allowances because its a drop in the bigger budget.
It also controls your unnecessary things which you can engage yourself in. If your needs are worthy k500,000, you will never get excited and drink the whole day simply because a client paid you k20,000. This k20,000 will finish in seconds.
If your salary is k6,000 but your budget is k30,000, it will moderate your behaviour. When you get paid, you will sort out some issues worthy k6,000 and your budget deficit will be k24,000. If on another day you happen to suddely make k3,000, it will not make you look like wabeula(you have made extra money?. How can you make extra money when you still have things to sort out worthy k24,000? The k3,000 will be a drop in the budget ocean and balance will be k21,000.
The danger of planning according to your monthly income is that you may think you have a lot of money meanwhile you don’t just understand your cost structure.
By Winfred Mupakasi Silumbwe
