If you will be refreshing my Steemit feed, you will just find finance-related posts other than the ones I resteemed. This is how driven and passionate I am to share my financial literacy advocacy. Though I feel like I have given my all for each post that I am making, I still feel like those posts aren’t enough. Don’t get me wrong but I appreciate all the comments and interactions I get from my avid fans, but I want to instill the lessons in their souls more than just reading it.

One way of doing it is to initiate finance challenges. Does that sound interesting to you? I hope so. Sure, there are many challenges here in Steemit that you can participate with, but this is a different one. #thebudgetchallenge aims to make my fellow Steemians more sensitive in handling their finances. If you have financial aspirations, I encourage you to join this one. This might help you be more committed and motivated in reaching your financial goals in life.

In case you didn’t know, I launched #thebudgetchallenge last January. The contest is about sharing the different budget plans of our fellow Steemians. You can see the full details of the contest here. I first shared my Budget Principle, and after evaluating the entries, I managed to extract the eight essential lessons everyone must learn from that challenge.

Currently, I am posting articles regarding the different investments available for us, especially for the millennials. However, investing isn’t for everyone, especially if you haven’t built the habit of saving yet. So now, let’s go back to basics, and that is your Daily Expenses. Before I give the mechanics, let me share my personal daily budget.

My Daily Budget

From the very first day that I’ve been working, I always follow a daily budget. This basically helps me surviving for the next payday. In my first few months, I was very frugal as I was still saving to buy appliances at home. That is my way of paying back to my family. Imagine, I only allocated P30 (0.60 USD) for food and P20 (0.40 USD) for transportation (My workplace is just a few minutes away from home). So that sums up P50 or one USD a day! In fact, there are times when I only have a total of P20 a day just for the transportation expenses since I am just bringing food for lunch.

Since my cash flow has increased lately due to my sidelines from rice and loading business, I made adjustments to my daily allowance. From P50, I doubled that to P100! I feel like I deserved that increase too! I just showed the percentages of my daily budget allocation so it’s up to you to do the Math.

Every payday, I count the number of days ahead before the next payday. I multiply the days to my daily budget and viola! Paycheck to paycheck survival is unlocked. As you can see, I allocate 50% as my food allowance, 20% for transportation expenses, and 30% for miscellaneous (cravings and guilty pleasures). If there’s something left for my daily allowance, I automatically put that to my savings.

There! The daily budget I shared is really my actual daily budgeting technique. That is my basis if I’m close to overspending or not. This time, I want to know yours too! I’m just curious how many of you are following a daily budget. But don’t fret, this challenge is for everyone. If you haven’t stick to a daily budget yet, you can state the reason why and lay your future plans on making one.

This challenge is also open to students! I’m pretty sure you’ve been receiving daily allowances for school. Since it is already summertime, you can just share your usual daily budget way back school days.

The Mechanics for #thebudgetchallenge

Open to everyone.
Resteem. You don’t have to upvote this post, but I am asking you to resteem this to get more visibility of this challenge.
Make #thebudgetchallenge as your first tag
No Restrictions. You can use any visual materials as you like. Charts, drawings, or graphs aren’t necessary. You can simply state the percent or the exact amount of your daily budget.
Include "The Budget Challenge" in your title
Winners will be announced after this post’s payout
Comment the link to your entries below

If you don’t know how and where to start, you can start by answering the following questions:

Do you think having a daily budget is important?
Do you follow a daily budget? If not, why?
Are you open to establish a daily budget from now on?
Do you find budgeting a difficult task to do?

Judge’s Basis:

Winners will be chosen by yours truly, and I will base my judgment on the following criteria:

75% - Honesty and Sincerity
25% - Impact

Rewards:

The Liquid Rewards (Steem Dollars) of this post will be given to all who will be participating in this challenge, both the winners and non-winners.

35% - First Place
25% - Second Place
15% - Third Place
25% - Will be equally distributed to the non-winners

I will be looking forward to seeing your entries!

To Financial Freedom,

@smaeunabs

Previously-posted finance-related articles that you can learn from:

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The Budget Challenge Is Back! Win SBDs While Following the Road towards Financial Freedom