Budget

What exactly is budget?

I've been doing so much budgeting at work, seeing so much effort going into the details of a few singapore cents, but is that even budgeting?

In pri school, budgeting means figuring out how to spend the 1 singapore dollar I have on me everyday. There's no such thing as budgeting for a music playing device which may range from a mp3, a casette player, a stereo, a surround sound speaker or even a laptop. Its either the 30 cents noodle, the 10 cents chicken biscuit or the 1 dollar sharpener. I don't even get to save the remainder.

In sec school, budgeting is.. eating less of delifrance, having hawker instead of Mac Donald's, self-medication instead of seeking medical help.

When it comes to poly, things started changing. There was an income, so the budgeting shifted. It was finding the cheapest jeans ($3), the cheapest lunch ($1.50 chicken rice), the cheapest shoe ($5) and the cheapest bag. There was occassional splurging when out with the poly cliques, but I reckon I spend more time earning tuition, teaching the cello than in school even.

When in NUS, things weren't better. The cravings for New Zealand ice-cream, for tea time at TCC and such-likes were much abhorred by the other half. The frequent purchases, the $20 bikini, $50 t-shirt was scorned at at home. Who exactly was I budgeting for anyway? Budgeting to please those around me?

Finally, after all that, here I am. Free. Free to spend as I wish. Free to have that $50 meal when the mood comes. Free to walk-in and out TCC so regularly I got sick of the food. Free to buy a $70 hair clip without the need to feel guilty. Free to appreciate my wealth and busk in the freedom it offered me. What did budgeting become?

It became more meaningful. Since I was free to buy anything, I wanted to buy what I'd appreciate. What will be meaningful to me. I wouldn't spend $3 suffering through a meal I do not enjoy, if the $10 alternative satisfies my psychological needs. I wouldn't spend $100 on a pair of shoe if the $10 one is more comfortable and pleasing to the eye. I don't buy three pairs of shoes just because buying more gives me more discount. I only buy two pairs and pay the original price because I know those are the two I like and will make good use of. THIS, to me, is what budgeting should be.

Find out what meets your needs. Value the worth of the goods, a leather bag vs a polyester one. Leather lasts infinitely longer, but will you get sick of the design and stop using it after 5/10 years?

I don't believe in living your life on a shoe-string budget. You satisfy your needs. Find out what you need, then satisfy it. If you need starbucks everyday to meet your psychological needs, then find out how you can support that need financially. If you don't need a 80 hectare garden in your home, then don't splurge your excess on that piece of land you don't use. Give others a chance to maximise its utility.

That's the way I see budgeting. Buy what you need even if you don't have the money (go find it). Don't buy what you don't utilise even if you have too much money (wait till you find a more meaningful way to spend it).