How to budget in the New Normal. Tips for beginner Side Hustle.


Creating a budget in a new normal differs from your older ones. This is true for a beginner side hustle, who instantly shifts from the online platform.

When you are starting, the transportation cost and your load for calls to your networks. Today, you have to include your internet load and prepare a separate saving for your laptop. This new normal introduces to us technology advancement, and that is on an online platform. If you love to write in a magazine, so you have to prepare yourself to write an e-newsletter (electronic newsletter) and submit to them in an email account.

Budget Plan

For me, this is the foundation if you are a beginner side hustle. Planning is important because you have to write the details in a long term or short term financial goal.

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How to create a budget plan for a beginner’s side hustle?

  • How much money you spend?

Lists of your monthly expenses.

It includes your personal needs, your wants, and your house bills. Your personal needs should separate from your house needs.

Lists your dream goal expenses.

Like travel in South Korea for next year’s trip or when the coronavirus is over.

The next step is to create a time frame of when you start a budget and when to stop. This will give you an idea of how much money you save.

  • How much money you want to Save?

Savings is a part of the expenses. You should include of percentage you will allocate and put in a bank or in any savings instrument. If you are interested to grow your side hustle into a business, you have separately saved it.

Once you already know your expenses, write on your priority list. Your basic necessity such as house bills and personal needs should be on top . Your next expenses to create a budget is your savings for your house and car. The unnecessary expenses is your least priority.

When adding up all the expenses, see if it needs to add another active income or make double work to your side hustle. You have also to choose what to give up or based it on from your least priority.


Including your Financial Goal.

To avoid the hassle, you have to create first your financial goal in a new normal.

Financial goals have these 3 categories: the long-term goal, midterm financial goal, and the short term financial goal.

In every financial goal category, it is best to write your budget plan. This will prevent you to minimize fewer money mistakes.

Take the example below. Note that your long term financial goal is you have a retirement fund. Suppose you are single and independent and wanted a simple life. Having a retirement fund for PHP 2million for yourself only. After you estimate your benefits from your company, the Social Security System (SSS), and HDMF, you can receive almost PHP 1million. So you have to look for another 1million. This is the role of the budget plan.

Four years ago, my dream was simple, and I want to save for my retirement of PHP 6million. Fast forward, as your families change their perspective, and changing environment, realize to know my worth. I go back to a side hustle and adjusting my budget plan in a long term financial goal.

Creating a Cash Card System

For beginner side hustle, open up cash card is a new wave for creating a budget.

Same with envelope system, a cash card system is depositing your cash in your designated card.

This is in the form of an ATM card or an e-wallet card. Sample are your banks with ATM cards. For an e-wallet, you can use the Gcash, Paymaya, and the Some applied credit card not only to purchase in credit but also for emergency purposes.

As I mentioned in my budget plan, you have a list of your personal wants, needs, and savings. For every expense category, it is best to separate your cash from different cash cards. If your budget for an emergency like hospital bills and badly needed the cash, it is wise to save it on your ATM. For grocery, e-wallet is best to choose.

I am using an envelope system for a decade and shifted to the cash card system. What I don’t like in the envelope is despite I keep on recording my cash out, I am getting tempted to get money for unnecessary expenses. There are times I forgot to record and so the result, I do not know of where my money goes.

Today, I love the cash card system because I cannot withdraw my money immediately, so I have to control myself not to get the cash.

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