By far, this is the most interesting question I want to answer.
Saving money is the most difficult thing to do especially when price of basic commodities are soaring but your salary is not. Sometimes, our expenses exceed our income which leads us to be trapped in debt.
Don't worry, it is not only you who is having this difficulty because I am experiencing this too. But thanks God, I heard about a solution which I will share to you in case you missed it.
The formula for saving should be like this:
INCOME - SAVINGS = EXPENSES
Suppose you are earning 10,000 per month. Take a specific amount for savings and the rest goes to buying groceries, paying utility bills and other expenses. This way, whatever happens, you sure are prepared.
The problem why many people loans especially during emergencies is because they are following the formula:
INCOME - EXPENSES =SAVINGS
Now, let me ask you, if you are earning 10,000 a month, are you sure there will be left for savings? I bet no. Because it is our attitude to pray after the lightning struck or manguros lang ta ig human ug pangilat.
Some of you might say, my income is not even enough for our expenses, how much more if I take an amount for saving?
I say, make a budget and change your lifestyle.
Thanks for reading and I hope this helps.
