Saving money and budgeting for paying bills, etc., are two different things. What you probably need to write about is budgeting your money well so that all bills are taken care of and so that you are putting some money aside, maybe in a savings account. Current recommendations are that a person should have enough saved to handle at least 3 months' (or 4 months' or 6 months') worth of bills and other needs.
The concept is the same, whether you are helping your parents with their expenses or living on your own. Budget your funds so that you 1) save/invest and 2) take care of needs (utilities, rent/mortgage, etc.) ... and then if there's anything left over, figure out how you'll spend that -- or maybe you'll decide to save it, too.
Needs and savings/investments come first; "wants" come later!
What is your greatest challenge in managing your money now and in the future?
My greatest challenge in managing my money now is that I have to try to save money for facilities and bills and stuff, not just spend it on unnecessary supplies. It is crucial for me to help my parents with in providing them with income which they can use to. That is the same with the future.
what else can i add in?
5 answers
So for career as well, university, hve to try to save it for that?
Exactly.
Alright, thanks a lot:)
You're welcome.
41 answers