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2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44
Drawing up and maintaining a family or personal budget is not as easy as it sounds. On the one hand, everything seems to be simple - I calculated how much is needed for food, utility bills, clothes, household needs, and so on. But then you suddenly remember that you wanted to buy yourself new pants, and you had to update your equipment. And you also need to drop in to the dentist - and off you go! So much is needed, and the family budget is not rubber, and money does not grow on a tree. But I also want to postpone, so that there is a reserve just in case.
How do you find the perfect budget planning option for both ours and yours? That is, take into account everything you need, and leave yourself for small and medium joys (especially large ones should always be planned in advance)? One option is to budget around Maslow's pyramid of human needs. By the way, quite an interesting and practical option!
The pyramid of needs is a commonly used name for the hierarchical model of human needs, which is a simplified presentation of the ideas of the American psychologist A. Maslow. The pyramid of needs reflects one of the most popular and well-known theories of motivation - the theory of the hierarchy of needs. This theory is also known as the theory of needs or the theory of hierarchy.
The idea is to distribute your income so that all needs are met according to their priority: physiological needs, security needs, social needs, prestige needs and spiritual needs.
On the one hand, everything seems to be simple and understandable. But on the other hand, sometimes doubts arise as to what type of needs this or that waste item should be attributed to. For example, the purchase of a new smartphone or laptop can be interpreted in two ways: at first glance, it is clearly not a physiological need and not a need for security, but if we consider this purchase as a necessary working tool for a new job, its position on the list immediately changes.
The first two levels of the hierarchy - physiological needs and needs for safety - can be considered the main ones. The remaining steps can be attributed to the simple "I want".
Budgeting according to Maslow's Pyramid of Needs
Physiological needs
- Rent or loan payments
- Basic livelihoods: groceries, groceries (no frills) and water.
- Clothes: not designer clothes, but exactly what is needed (warm jacket, if winter has begun, etc.).
Security needs
- Electricity and gas
- Phone charges
- Medicine (money for medications, doctor's calls, procedures and hospital) or insurance
- Costs for a car (gasoline) or public transport
- Maintenance of a house or apartment (suddenly the pipes burst - there should always be a stock).
- Operating costs associated with your business.
Social needs
- Present
- Charitable contributions
- Entertainment
- Spending time with family and friends
Prestigious needs
- Appropriate clothing for work (expensive suits, ties, cufflinks, shoes)
- Additional training and professional development (various trainings, seminars and courses)
- Money for lunch in restaurants
- Sports activities that are not related to basic biological needs (visiting a sports club, individual lessons with a coach, buying expensive sportswear or equipment, and so on).
Spiritual needs or self-realization
- Hobby
- The cost of the Internet if it is not necessary for the job.
- Tv
- Vacation and travel just like that, not out of necessity.
- The cost of luxury goods (here they each have their own).
To be honest, budgeting and budgeting has always been difficult for my family. But over time, we were able to draw up our own system, and it more or less coincides with the one I gave in this article: in the first place is always the most necessary - home, food, work, medicine and study, and only then the rest of the points go, which can really be combined into the "Desires" group.
And you know what? It really works!
How do you manage your budget? Do you have your own system and how reliably does it work?
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