"How I Budget My Money Each Month" (Even on a Student Budget!)

Introduction Have you ever reached the end of the month wondering where all your money went? I used to experience that all the time — until I learned how to properly budget. Now, even with a small allowance, I can save, treat myself occasionally, and still have emergency funds. In this blog, I’ll share how I budget my money each month and the simple system that works for me. Main Body 1. Track Your Income and Expenses The first step is knowing exactly how much money you receive and where it goes. Every payday or allowance day, I list down my total income and record every expense — even the smallest ones like snacks or tricycle fares. I use a free app called Money Manager to make this easier. 2. Follow the 50/30/20 Rule I divide my money using this simple rule: 50% for Needs: This includes food, transportation, school supplies, and personal essentials. 30% for Wants: Occasional milk tea, new clothes, or movie nights. 20% for Savings: I put this aside right away, either in my...