Spending your income correctly

Now, we're back to regular programming. I can still blog leisurely this week as my "pressurely" work would not take effect until next week.

As I told you the other day, I just received my salary for September. Because I now have a little one, I can't just go on spending all my money for myself. Now, I have to go on spending all my money for Y. That sounds wrong. What I mean to say is that I have to set a stricter budget now that I have someone to take care of. However, it's not a burden on my part. If you know me, you would know that I love budgeting -- it's just the implementation that needs work!

I only receive my salary once a month, which means I need to budget for the entire month. Thus the need for a budgeting tool. I have an account in Expense Register but I have yet to use it. I think I will use it after I have paid my debt off, which is next month. Instead, I referred to this budget calculator from CNBC by Carmen Wong Ulrich.

According to CNBC, the ideal allocation of your monthly budget should be as seen in the pie chart above. I like it because once you provide the exact amount of your monthly income, it calculates the exact amount you should allocate for each, well, allocation. You can just make "dagdag-bawas" if you want to. Teehee.

I tried calculating using only my own monthly salary. Then, I tried calculating with our combined salary, J's and mine. I liked the latter better because there is more left for "everything else." Lol!