"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 savings account or a coin bank.

This method helps me enjoy my money while still being responsible with it.

3. Set Goals and Stick to Them

Budgeting becomes easier when you have a purpose. For example, my goal is to save ₱2,000 for a new phone by the end of the year. I remind myself of this every time I’m tempted to spend impulsively.

4. Review and Adjust

Sometimes, unexpected expenses happen — like school projects or family occasions. When that happens, I adjust my budget but make sure to get back on track the next month.

I like keeping my tone friendly and conversational — just like sharing tips with a friend who also wants to manage money better.

How about you — do you have your own budgeting style? Share your tips in the comments! Let’s help each other become wiser with money. 💰