During our recent PPP session we were given an annual costs form and asked to fill it in. The point of this exercise was to show us roughly how much we spend annually and therefore it would be easier to understand how much we should charge our clients, or how to manage our money. I thought it was very clever to introduce this to us because as students most of do not have that much experience with budget management. I know I don't always do. But in all honesty, ever since I moved to UK money was tight so my mom made me keep an update exel file with my daily expenses, and send it to her every now and then so she could forecast if I needed any support later on. And then she would give me advice and what to cut down on and what to not be cheap about. That whipped me into shape very quickly. After the first year I kind of left the exel file because I felt like I did not need it anymore, I haven't need any support from parents for a while now and I don't have that much trouble managing my money.
So this exercise was kind of a recap for me. Also I found out that my annual expenses era really cheap. I tried my best to calculate the approximate spendings on everything and it did not add up to as much as (i think).
The total income section seemed to have some kind of an error in it which I could not figure out, but the overall exercise was very useful. This will come in really hand if I ever need to access my financial situation or open a studio. Actually I should start using it again now. Once you see o paper your expenses is it a lot easier to reconsider before buying stuff you do not need.
No comments:
Post a Comment