Budgeting an allowance is a piece of cake if you know these 10 techniques of mine. Curious? Read on..
1. Compute your transportation expanses for the whole week. Be firm that you do not touch this amount of money that you will set aside to avoid asking additional money from parents.
2. Create a list. Make a list of the things that you need and want. Prioritize.
3. Secure savings. Keep your savings far away from you-away from temptation. Leave it at home, or deposit it in the bank, anywhere is safe except in y our hands.
4. 5 pesos a day. Buy a piggy bank-one that can't be opened easily. Cultivate a habit to put 5 pesos a day in your piggy bank. By the end of the year, you'll be thankful you tried this.
5. Make a list of all your expanses. Put everything into writing to avoid wondering where you have spent your money on.
6. Implement self-discipline. Make it a point to never ask additional money from your parents. Create a budget outline and work within that budget. You'll survive.
7. Serve and earn. You can earn extra money by applying for a part-time job. Or maybe you can come up with a gimmick? Like carpooling? It's worth a try.
8. Do not buy things impulsively. Seasonal sales are very tempting but not everything on sale is a good buy. Learn how to save enough money and to keep an eagle's eye out for the best purchase price.
9. Be an entrepreneur. Make and sell stuffs to your friends. Be enterprising.
10. Long term savings. Make a list of the things that you want to save for in the long-run. Perhaps a laptop? Or an Ipod? Or maybe you could save up for your tuition fees? This will teach you how to plan ahead.
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