My financial budget plan in the future changes from time to time. During my 20’s I budgeted my income and work hours so I can retire at 40. But now I’m on my 30’s I think I will still work until on my 50’s or even after 60s. Because of the economic situation and financial constraints plus the on-going 2-year covid pandemic that we are facing right now.
Maximising your budget is like playing chess, in which you need to do everything to win in a strategic way against all odds. But sometimes because of the lack of discipline and education one’s plan and budget may be altered or may gone with the wind.
So why you need to consolidated all your debt? For me you need to calculate your asset and liabilities. Wether it’s a great asset, good debt or a bad debt. It’s still part of your long- and short-term investment budget. So, you need to make sure it’s always on balance, on your favor and can be easily manage. So sooner or later you later you need to get out of debt. In all of your business ventures ASAP!
Everything is in budget, it really depends on you really believe, wants and need in life. I am not perfect sometimes; I made a lot of mistakes when it comes to budgeting as well as investments. Sometimes I blame or ask myself If I watched several movies and browse something irrelevant on social media to make me laugh or entertained.
Calculating that by the end of the day, I have no productivity at all. Also try to weigh in those decisions I made in life. Where I should I suppose to be doing. Like barking at the wrong tree or even sweating the small stuff to satisfy my ego. I don’t like to waste any minute of my life doing same mistake again.
So, over the years this is the mistake I’ve learn that you may apply in your life. I used to think that I should always wanted to impress people when it comes to income, revenue, profit and position in life. Until one day I saw a quote in life asking – Why should I impress people who is lesser than me?
I should only impress the people that I love, and like which is my family, creator and myself. So should I not be proud of my things and expenses. Instead, I should be proud of my savings and investments. When people are buying gadgets, properties, branded clothing’s and vehicle.
I used to do it as well without thinking about the long-term maintenance cost of it. When people invested in several online businesses I also dived and invested as well without thinking the pros and cons of it. I remember talking to my financial advisor and brokers before handling the money without having them finish its presentations.
Without reading the terms because I fully trust the system, which is a very wrong move to play with your hard-earned money. Because by the end of the day you will get burned. I should be focusing on the inside quality not the outside. That there will be no shortcut and easy way up.
Along the way I should think about it carefully. Because I lost a dozen’s already, several business ways that doesn’t work. I should listen to my mind instead my heart. Just like impulsive buying applied in investment as well. Budgeting is a no joke, you need to stick to it until the end.