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  1. I found this a bit patronising to be directed only at ‘sisters’ as i am the one who actually saves money in the family, i’ve forwarded to my husband instead
    salamu alaykum

    • Wa alaikum salaam, Safia.

      Thank you for sharing your thoughts.

      I’m sorry you found the article patronising. It wasn’t written solely for sisters, but merely from a sister’s perspective, as I am the one who manages my family’s finances.

      This method is open to everyone – male or female; single or married.

  2. In support of your Article which was received with thanks I forward below a similar Article from Nigerian newspaper, BUSINESSDAY of 8th April, 2014 as follows:-
    Budgeting will help you manage your spending habits
    April 15, 2014 | Filed under: Personal Finance | Author: Editor
    A budget is a plan for your future income and expenditures that you can use as a guideline for spending and saving. Although many people already use a budget to plan their spending, the majority of people also routinely spend more than they can afford.
    The key to spending within your means is to know your expenses and to spend less than you make. A good monthly budget can help ensure you pay your bills on time, have funds to cover unexpected emergencies, and reach your financial goals.
    Add up your income
    To set a monthly budget, you first need to determine how much income you have. Using the worksheet at the bottom of this page, write a dollar figure next to each relevant income source. Make sure you include all sources of income such as salaries, interest, pension and any other income–including a spouse’s income if you’re married.
    If you get a salary, be sure to use your take-home pay rather than your gross pay. Taxes are usually taken out automatically, but if they’re not, remember to include them as another expense. If you receive money from somewhere not listed, enter the source along with the amount under “other income.”
    Estimate expenses
    The best way to do this is to keep track of how much you spend for one month. The worksheet below divides spending into fixed and flexible expenses. Fixed expenses are those that generally do not change from month to month, such as rent and insurance payments. Flexible expenses are those that do change from month to month, such as food or entertainment. If some of your expenses for one or more categories change significantly each month, take a three-month average for your total.
    Figure out the difference
    Once you’ve totaled up your monthly income and your monthly expenses, subtract the expense total from the income total to get the difference. A positive number indicates that you’re spending less than you earn–congratulations. A negative number indicates that your expenses are greater than your income. This means you will need to trim your expenses in order to begin living within your means.
    Well done–you’ve created a budget. The next step is to track your budget over time to make sure you’re sticking to it. If you find you aren’t able to follow your budget successfully, it may mean that your plan isn’t flexible enough. It can take revisiting your budget a few times to find the balance that works for you.

    • That was a very comprehensive article, and I think it’s great to have a clear idea of income and expenditure before embarking on the budgeting method outlined in my piece above. This way, you know if you can save, and how much disposable income you have. But doing a balance sheet isn’t absolutely necessary, as the method I wrote about is a great way to actually work towards lowering essential expenditure, be it by changing phone/ internet plans, looking for a cheaper energy supplier, or even watching grocery costs.

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