Tip of the week: Write a monthly budget on one page

A budget is not a punishment. It is a plan that tells your money where to go, so you do not wonder at month end where it vanished.

Take one page and list three things. First, your expected income for the month. Second, fixed costs such as rent, school fees, transport and bills. Third, flexible costs such as food, airtime, entertainment and clothes. Add a line for savings.

If the expenses are more than income, adjust the flexible items, not the savings. Be honest about small daily spending like snacks and airtime, since these often surprise people.

At the end of the month compare your plan with what really happened and learn from the difference. Next month's budget will be more accurate.

A boda boda rider with irregular daily earnings can budget using a lower, average income, and treat extra good days as a bonus for savings.

This week: write your budget for the coming month on a single page.