Still haven’t built a budget? Somehow, we’re not surprised.
Budgeting is not an easy process — and getting started is probably the hardest part. But even after you get started, there are many obstacles that can trip you up.
Specifically, there are 3 very common ways people fall and stumble during the budgeting process — despite the best of intentions.
In this episode, you’ll learn what the most common mistakes are people make during the budgeting process so you can avoid them altogether.
Tune in to learn:
- Why budgeting is necessary, but not enough to improve your financial habits
- The big picture of budgeting — beyond the mechanics and details
- How to avoid getting caught up in the details and drowning in data
- Why habit building is the ultimate purpose of budgeting
- How long you should be budgeting for — and when you can stop
Listen here…
My reason for, why a budget is difficult for me is because I don’t have a steady income, it’s either more than I need or more often less than I need every month. So I am always struggling to make ends meet. According to the 50 30 20 rule I think I am spending 95% of my income on necessities. And when I cannot meet those ends I tend to borrow and as of today I am not comfortable with the debt I am in. So is there advise for me.
JazakAllah
Assalamu alaikum Ahad,
First off, I want you to know that there are lots of people in your position. With hard work and du’a you will be able to make it through insha’Allah. The only advice I have for you is something you probably already know. You either have to cut your necessary living expenses in half, or double your income. You will most likely do a bit of both, but there are no tricks or secrets in your situation. The worst thing you could do is fall into despair. Accept the challenge that Allah has given you and rise to meet that challenge. May Allah make it easy for you and keep us all on the straight path.
Hello,
Unfortunately, the link to episode 10 goes to episode 9. I would love to hear about whether I should buy or rent a house. I haven’t tried to download iTunes to get it from there. Will do though.
Thank you,
Jafer
Here you go Jafer: https://rizqwise.com/podcast/rent-vs-buy/