Introduction
Money touches every area of our lives including our education, health, opportunities, and even our dreams. Yet, many young people struggle to control their finances because they lack one of the most essential skills: budgeting and money management. Without a plan for your money, it often “disappears” before the end of the month. Budgeting gives you power. It turns money into a tool you control instead of a stress you suffer from.
This module will help you:
- Understand what a budget is and why it matters.
- Learn how to create a personal budget that works.
- Master the art of tracking your expenses and income.
- Explore practical tools for managing daily finances in today’s digital world.
By the end, you will not only know how to take charge of your own money but also be equipped to teach others especially students in schools how to manage their finances.
1. What is Budgeting?
A budget is simply a plan for how you will spend and save your money over a period of time, usually a month. It is like a map that guides your financial journey.
Think of it like traveling to a new place. Without a map or GPS, you may get lost. In the same way, without a budget, your money often “gets lost” in unnecessary spending.
Why Budgeting Matters for Young People
- You gain control over your money instead of letting money control you.
- It helps you prepare for emergencies and unexpected expenses.
- It makes big dreams (education, business, travel, home ownership) possible by breaking them into smaller, achievable steps.
- Budgeting builds discipline, a skill that transfers into leadership and entrepreneurship.
2. Steps to Creating a Personal Budget
Step 1: Know Your Income
Your income is the starting point. Sources may include:
- Salaries or wages.
- Allowances (from parents/guardians).
- Side hustles or small businesses.
- Scholarships or stipends.
- Freelance jobs or digital gigs.
Step 2: List Your Expenses
Expenses fall into two categories:
- Needs (Essentials): rent, food, transport, bills, school fees.
- Wants (Non-essentials): eating out, clothes shopping, gadgets, entertainment.
Step 3: Set Your Priorities
Ask yourself:
- Is this necessary for my survival or growth?
- Can I delay this purchase?
- Does this expense help me achieve my goals?
Step 4: Allocate Money Using a Formula
The 50/30/20 Rule:
- 50% for Needs
- 30% for Wants
- 20% for Savings & Investments
Example: If you earn $500 a month:
- $250 → Needs
- $150 → Wants
- $100 → Savings
Step 5: Put It in Writing
Write your budget in a notebook, spreadsheet, or budgeting app.
Step 6: Review and Adjust
Life changes. Review your budget monthly and adjust as needed.
3. Tracking Expenses and Income
Budgeting works only if you track.
Why Track Spending?
- Reveals where money truly goes.
- Helps identify wasteful habits.
- Ensures your budget matches reality.
How to Track:
- Manual notebook recording.
- Envelope system for cash.
- Excel or Google Sheets.
- Budgeting apps like Mint, YNAB, PocketGuard.
4. Practical Tools for Managing Daily Finances
A. Banking Tools
- Debit/Credit cards.
- Online banking.
- Mobile banking apps.
B. Budgeting Apps
- Mint.
- YNAB.
- Goodbudget.
C. Savings & Investment Platforms
- Mobile money wallets (M-Pesa, PayPal, OPay).
- Investment apps (Robinhood, Bamboo, Chaka).
- Savings challenges ($1 a day, etc.).
D. Simple Habits
- Keep receipts.
- Review weekly.
- Automate savings.
5. Common Budgeting Challenges for Young People
- Low income → build multiple streams.
- Peer pressure → learn to say no.
- Impulse spending → use the 24-hour rule.
- Lack of consistency → use reminders/apps.
6. Teaching Budgeting to Students (School Application)
- Use pocket money examples.
- Show how small savings add up.
- Create fun savings challenges.
- Use games and role plays.
- Encourage discussions on “needs vs wants.”
7. Case Studies and Stories
Case 1: Maria’s Success
Maria, a 22-year-old student, earned $50 monthly. By cutting snack spending in half, she saved $30 monthly and bought a laptop in 6 months.
Case 2: Daniel’s Struggles
Daniel, 28, earned $300 monthly but never budgeted. He borrowed at high interest when emergencies came, falling into debt.
8. The Bigger Picture
Budgeting is not just about money, it builds planning, discipline, and responsibility. It prepares you to:
- Build wealth.
- Avoid debt traps.
- Inspire others.
- Contribute to community stability.
Conclusion
Budgeting and money management are freedoms, not restrictions. They free you from money stress, living paycheck to paycheck, and financial regrets. For young people, budgeting is the bridge between dreams and reality.
Your Challenge:
- Create your own monthly budget with the 50/30/20 rule.
- Track expenses for 7 days.
- Teach one student or peer how to budget.
Kindly share a summary of what you have learnt in the comment below in this format:
- Full name:
- Country:
- Summary of what you have learnt:
Join KAFI Community
From the KAFI Foundation's module on budgeting and money management, I've learned that creating a budget is essential for taking control of my finances. A budget is like a map that guides my financial journey, helping me prioritize needs over wants and achieve my goals. I've learned about the 50/30/20 rule, where 50% of my income goes towards needs, 30% towards wants, and 20% towards savings and investments. I've also learned about practical tools for managing daily finances, such as banking tools, budgeting apps, and savings challenges. Additionally, I've gained insights into common budgeting challenges and how to overcome them. Overall, I've learned that budgeting is not just about managing money, but also about building discipline, responsibility, and freedom.
ReplyDeleteSteve Zimheni
ReplyDeleteFrom Zimbabwe
From the KAFI Foundation's module on budgeting and money management, I've learned that creating a budget is essential for taking control of my finances. A budget is like a map that guides my financial journey, helping me prioritize needs over wants and achieve my goals. I've learned about the 50/30/20 rule, where 50% of my income goes towards needs, 30% towards wants, and 20% towards savings and investments. I've also learned about practical tools for managing daily finances, such as banking tools, budgeting apps, and savings challenges. Additionally, I've gained insights into common budgeting challenges and how to overcome them. Overall, I've learned that budgeting is not just about managing money, but also about building discipline, responsibility, and freedom.
Martha siakabizi
ReplyDeleteZambia
Budgeting gives you power. It turns money into a tool you control instead of a stress you suffer from. Know Your Income,List Your Expense, and Set Your Priorities. Budget helps you gain control of your money.
Emmanuel Oche Samuel
ReplyDeleteNigeria
Budgeting is a real strategy, it gives you control over your life and helps you cut down on excesses. The 50/30/20 rule is a practical step and formula that can help young people by prioritizing needs over wants and as well engaging in savings and investment. Furthermore, tracking tools like budgeting apps, banking tools or a simple record book can exposes the loop holes in spending habits, it reveals our spending habit and where our funds go to which can revolutionize or improve our budgeting style. Overall, budgeting is a map that helps us navigate and manage our money whether salary, wages or free gifts.
Victor Osaba ongala Kenya
ReplyDeleteThe session was very exciting I can now badget very well ,I will take an initiative to Train my colleagues on the importance of badgeting
Shalisca T Gomile , Malawi.
ReplyDeleteFrom the module on budgeting and financial management module I've come to agree that it is really a challenge for students to manage finances due to low income and peer pressure. Sometimes the money they earn for pocket money is not much that one can save and survive on , on the other hand saving doesn't require starting big. From yesterday's module we learnt that saving is more like planting seeds , seeds don't germinate on one call they take time and require effort and care from the planter for them to grow , it's the same with saving you can start small and with passion and consistency in the end savings mature.
Name: Adewuyi Anuoluwapo Damilola
ReplyDeleteCountry: Nigeria
Summary:
Learning from this module really taught me how budgeting works and the important of it for our daily life.following this module talks about consistency , discipline on how to manage money and if been pratice you would achieve beyond your income.Budgeting helps in savings and also investing without borrowing.
Handema Harold
ReplyDeleteZambia
Interesting lesson
This gave me the proper insight of budgeting, and the freedom it brings, knowing how to gain control of your finances, help prepare for emergency and build discipline on ones financial life .
james maninjala
ReplyDeletemalawi
My summary for Day 2 Self & Money Awareness
Personal Finance: Budgeting & Money Management
On this day, I learned that budgeting is the process of creating a plan on how to use my income effectively. It helps me allocate money for needs, wants, savings, and emergencies. Money management goes beyond budgeting,, it involves making wise decisions, avoiding unnecessary debt, and ensuring that spending aligns with my goals. For me, this was eye-opening because I realized I often spend without tracking, which leaves me short before the end of the month. Moving forward, I plan to create a simple budget by listing my income sources and dividing them into percentages (for example: 50% needs, 30% wants, and 20% savings).
Name: Tumanjong Miranda
ReplyDeleteCountry: Cameroon
Day 2 Summary
Budgeting is simply a plan on how you will spend and safe money typically over a month. It is like a roadmap to our financial journey.
It is important to budget as it helps us gain control over money, prepares us for emergencies, helps us build self-discipline, it also helps us make big dreams a reality. In creating a personal budget, you have to know your income, list your expenses, set your priorities, allocate money using a formula, put it in writing, and constantly review and adjust.
Budgeting frees us from pressure and financial stress.
Belema George
ReplyDeleteFrom Nigeria
Well a short summary of day two’s lesson would be that effective budgeting and money management is crucial for everyone in our day to day activities and also for businesses to thrive and achieve their expected goals.This module made me really understand the importance of budgeting and how it really affects our day to day lifestyle and activities.I also learnt from this module that budgeting, financial planning and money management are essential for entrepreneurs and small businesses to make informed decisions, mitigate risks and drive growth.
Sikhulile Hlatjwako, Eswatini
ReplyDeleteThe 50/30/20 rule is important in financing because it provides a simple structure for managing money.
It divides income into 50% for needs, 30% for wants, and 20% for savings or debt repayment.
This balance prevents overspending on lifestyle while neglecting essentials or savings.
It helps people prioritize important bills like rent, food, and healthcare.
At the same time, it allows room for enjoyment through hobbies and entertainment.
By committing 20% to savings, it builds long-term financial security and an emergency cushion.
It also encourages extra debt repayment, which reduces financial stress over time.
The rule is easy to follow, even for people who struggle with complex budgets.
It supports both short-term comfort and long-term financial goals.
Overall, the 50/30/20 rule promotes discipline, balance, and peace of mind in personal finance.
Name: Tumanjong Miranda
ReplyDeleteCountry: Cameroon
Day 2 Summary
An entrepreneurial mindset is the ability to see opportunities and possibilities where others see problems. Entrepreneurs are optimistic, resilient, proactive, adaptable, risk tolerant and value creators. To be an entrepreneur, be ready to fail many times before succeeding.
Be ready to test your ideas and improve them over time. Learn to do a self assessment in order to know yourself and build on your strengths while improving on weaknesses.
Name: Eldien E. Matroos
ReplyDeleteCountry: Namibia
Day 2 summary:
This session on budgeting and money management taught me that budgeting is more than just setting spending limits; it's also about making a well-defined plan that allows me to take charge of my finances and future. Similar to a map, a budget enables me to keep track of my earnings and outlays, differentiate between necessities and wants, and establish priorities that support my objectives. I learned useful tools that help simplify and improve financial management, like the 50/30/20 rule, digital platforms, and techniques for tracking expenses. I also realized how crucial it is to maintain self-control, refrain from impulsive purchases, and learn to resist peer pressure. I learned from this program that budgeting creates habits.
George Harah
ReplyDeleteZambia
Summary for Day 2: It is important to know the difference between needs as well as the wants, apply the 50/30/20 rule [give 50% to important needs, 30% it is for wants, and allocate 20% it to your savings or investments] ,aside from that to know every expense to avoid spending aimlessly.
I have as well learnt on financial discipline, it also helps you as an individual avoid debts.
Blessmore Mahuka
ReplyDeleteCountry Zimbabwe
Budgeting is an important aspect of financial literacy, it's all about planning how you will spend and save money over a specific period of time. It helps you gain control of your money, helps you save and use your money well on things that are actually relevant. Budgeting follows certain steps and it only works if one is actually tracking their spendings and tracking their money and savings. You can't just say you are budgeting but spend money without order. You can write down things or keep receipts so that you track your money.
My name is Chisomo Chimbayo from Malawi
ReplyDeleteMoney is an essential part of everyday life. It influences nearly all activities we engage in, such as education, health, and the pursuit of personal goals. Because of its importance, developing a strategy on how to spend and save it also becomes a crucial skill. This skill is what is called budgeting. Creating a budget involves several key steps: identifying the amount of money available, listing expenses while distinguishing between needs and non-essentials, and setting priorities so that money is allocated wisely. Once priorities are clear, funds can be distributed using a formula that reflects their importance. The budget should be written down and reviewed regularly to allow adjustments when necessary. However, making a budget is not the same as following it. To ensure practical use, one must track spending. This can be done through banking tools that record money received and money spent , budgeting apps that allocate resources and minimize unnecessary spending, and even by keeping receipts. Budgeting is valuable because it allows individuals to stay in control of their finances, prepare for emergencies, and handle unexpected expenses.
Maitumelo Mighty Dagwi
ReplyDeleteBOTSWANA
Budgeting is an essential tool and skills that one must have for it saves one from unexpected issues/emergencies.This road map is a foundation for financial freedom,stress free life and a track record of how you use or used your finances..Before you make a purchase one must know their needs and wants and it is mostly adviced to prioritize needs before wants..wants are countless and most of the times keeps changing with seasons,needs however are essential human priorities..Imagine you spent all your savings on an iphone because your friends have one what will happen if a more pressing situation suddenly comes to surface and you didnt budget for that;stress anxiety or worse suicide
Budgeting can help you live your dreams,school,that house you want to buy,food,pay rent all can be achievable with proper budgeting
You must keep records of your money through googlesheets,mint,paypall and most imporyently avoid peer pressure when it comes to money
Grace Victoria Nkhoma
ReplyDeleteMalawi
From this module l have learnt what budgeting is and why it matters for example it helps to prepare for emergencies and unexpected expenses , it builds discipline. I have also learnt steps in creating budget like knowing your income,list of expenses, setting priorities, allocating money using a formula , writing them down reviewing and adjusting. One must track expense and income for example through manual notebook recording and also having practical tools for managing dairy finances like banking tools, budgeting apps , simple habits . The module has also talked about common budgeting challenges for young people for example peer pressure,low income.
Eunice Louis
ReplyDeleteMalawi
From this module, I have learnt that budgeting is an essential tool that guides ones financial journey over a period of time. Budgeting empowers young people to take control of their finances by tracking income and expenses using several tools like banking apps, spreadsheets, or simple notebooks. This helps identify where money goes, restrain wasteful spending, and grow savings. Despite having challenges like low income, peer pressure, and impulse buying, adopting simple habits like keeping receipts, reviewing finances weekly, and using the 24-hour rule can make a difference. By teaching budgeting through interactive methods like games, savings challenges, and real-life examples, young people can develop essential life skills. Ultimately, budgeting builds discipline, avoids debt, and unlocks financial freedom, enabling individuals to achieve their dreams and create a brighter future for themselves.
Chisomo chikanongo from Malawi.
ReplyDeleteAs a human being is good to know the definition of budgeting. In this lessons I have learnt that is good to know what you earn per month,how much do you spend,and save the litle you have because if you can save 2 dollars at the end of the month it will never be the same amount of money.
As I always do that,I spend money according to how much I earn per month if I overexcited with the money I know myself that I'm calling poverty to be my friend in need.
Nyapendi Margret
ReplyDeleteUganda🇺🇬
A budget is a financial plan that helps you match your income with your expenses. It guides you to prioritize needs over wants, control spending, save consistently, and plan for future goals. So a budget is a roadmap for your money—it tells every coin where to go instead of wondering where it went.
Eunice Louis
ReplyDeleteMalawi
From this module, I have learnt that budgeting is an essential tool that guides ones financial journey over a period of time. Budgeting empowers young people to take control of their finances by tracking income and expenses using several tools like banking apps, spreadsheets, or simple notebooks. This helps identify where money goes, restrain wasteful spending, and grow savings. Despite having challenges like low income, peer pressure, and impulse buying, adopting simple habits like keeping receipts, reviewing finances weekly, and using the 24-hour rule can make a difference. By teaching budgeting through interactive methods like games, savings challenges, and real-life examples, young people can develop essential life skills. Ultimately, budgeting builds discipline, avoids debt, and unlocks financial freedom, enabling individuals to achieve their dreams and create a brighter future for themselves.
Kapumbwe Samuel
ReplyDeleteZambia
I've got to understand that no matter how much you earn without budgeting skills one can still survive on debt and paycheck to paycheck,hence having a budget can help understand and achieve a goal
I am Florence Kaselela from Malawi.
ReplyDeleteFrom today’s module, I have learnt about budgeting and money management as strategies that help individuals to be free from being controlled by money, free from the bondage of debt, and free from poverty. Budgeting helps a person spend money wisely and avoid unnecessary expenses.
However, most youth do not practice budgeting; they lack budgeting and money management skills. This is often due to limited knowledge, peer pressure, and poor access to money. It is therefore very important for young people to develop the habit of budgeting and saving, as this creates financial freedom.
Lastly, I have learnt about the 50/30/20 rule, which guides wise spending: 50% on needs, 30% on wants, and 20% on savings. I believe I will start applying this from today onwards because I want to free myself from the challenges of poor budgeting and financial management.
Name: Molly Madichi
ReplyDeleteCountry: Zambia
Summary: Budgeting is a road map for the money one earns. It guides on how to to use money for better purposes if one wants to build wealth or simply for sustainability. It is important to understand your expenses and know the difference between Wants and Needs, it’s very important. Budgeting might seem like it’s a restriction when really it frees you from money stress, living paycheck to paycheck, and financial regrets.
Dineo Mphuti
ReplyDeleteSouth Africa
What I understand about budgeting is that it is a plan you make to spend and save money for current and future purposes. It is important to budget so that you do not end up overspending, having debts, or lacking any savings. Budgeting disciplines a person, enabling them to balance their life without stress. There are different tools to use for budgeting, such as banks and investment applications. Although there are various challenges faced by people, such as low income, overspending, and lack of consistency, these challenges can be overcome by budgeting, which can lead to positive results like creating opportunities for yourself or those around you, avoiding debts, and inspiring others.
Ebrima Touray
ReplyDeleteGambia
My takeaway from budgeting and money management:
Money matters and that it should be well managed by proper budgeting. This way an individual might be able to live from financial stress and extravagant spending.
Mwila Zulu
ReplyDeleteZambia,
From the lesson today on budgeting and money management I've learnt budgeting is a means of controlling your money, planning for the future and managing where your money goes. I have learnt that everyone should learn the valuable skill of budgeting and by applying the 50/30/20 rule it helps you have a clear overview of how to manage your money and expenses wisely. Regardless of how much you make budgeting and learning how to manage your money should be a skill to have.
Mission kumwenda
ReplyDeleteMalawi.
In this module of of budgeting i have learnt alot out of those i don't know but bcoz KAFI has provided with this knowledge is amazing . Indeed most of the young people spend carelessly of their income because of lack of budgeting. The first and great lesson I have learnt is the 50/30/20 spending our i have never thought of it but now onwards as leader will impart this knowledge to young people. But my question is this module has grouped the expenses into two groups that's the needs and the wants ; but looking at the spending we have included the last one spending how ???
Name: Mulenga Nsama
ReplyDeleteCountry: Zambia
Money management is the foundation of securing a smart financial future.
For us to secure a good financial future we need first understand budgeting and the key concepts of it. Therefore, a budget is a plan that outline our income and expenses. For people especially the young to create an amazing budget we need to know our income and never spend above what you earn. Money can flow properly if we apply the formula of 50/30/20 when spending.
Name: Esau Kanu
ReplyDeleteCountry: Sierra Leone
From this module, I have learnt that budgeting is an essential life skill that gives me control over my money and helps me achieve my goals. A budget is simply a financial plan that guides how I spend and save my income over a period of time. Without it, money can easily disappear on unnecessary expenses, but with it, I can make smarter financial decisions.
I now understand the importance of budgeting, especially for young people. It helps prepare for emergencies, supports long-term goals like education or business, and builds discipline that is useful in many areas of life.
I also learned the steps to create a personal budget, which include knowing my income, listing expenses, setting priorities, allocating money using the 50/30/20 rule, writing the plan down, and reviewing it regularly. The 50/30/20 rule - 50% for needs, 30% for wants, and 20% for savings and investments - is a simple and practical method to follow.
Tracking income and expenses is another key lesson. By recording every expense, I can identify wasteful habits and adjust my budget to stay on track. There are different tools to help with this, such as notebooks, spreadsheets, and budgeting apps.
I also learnt about common financial challenges like low income, peer pressure, and impulse spending, and practical ways to overcome them. Teaching budgeting to students can be made fun through savings games and discussions on needs versus wants.
I now understand that budgeting is not just about managing money — it builds responsibility, planning, and leadership skills. It is a bridge between dreams and reality, and practicing it will help me build a stable and successful financial future.
Thank you.
Seshther Banda
ReplyDeleteMalawi
Budgeting is a plan for managing your money, helping you track income and expenses, and achieve financial goals. It involves knowing your income, listing expenses, setting priorities, and allocating money using tools like the 50/30/20 rule. By tracking spending and using practical tools like budgeting apps and banking tools, young people can overcome common challenges like low income, peer pressure, and impulse spending. Budgeting builds discipline, responsibility, and financial freedom, enabling individuals to build wealth, avoid debt, and contribute to community stability. Effective budgeting also helps young people prepare for emergencies, make informed financial decisions, and achieve long-term goals like education, business, or travel. By developing good budgeting habits, individuals can take control of their financial lives and make progress towards financial independence. Additionally, budgeting skills can be applied to various aspects of life, including personal and professional development. By mastering budgeting, young people can set themselves up for success and create a brighter financial future.
Tinkhe Munthali from Malawi
ReplyDeleteBudget means knowing how to spend money wisely in the way that tracking the records on how you will use money through writing . This will help to avoid spending on un necessary things and accomplish what you wanted to do .
50,30,20 rule will help proper budgeting without misusing finances therefore it will help you to have control over your money and achieve goals.
Ivy Mwanguku
ReplyDeleteMalawi
Budgeting and money management is something important in someones life.A budget is a plan that guide your financial journey. Helps one spend less and achieve many things.
You need to have a source on where to get the money it maybe through your Salary, or allowances.
You have to Identify your needs and wants to avoid over expenses.Prioties necessary things and remember to save.Write your budget review it remember to track your money this helps identify wasteful habits,record your budget.
As a youth try your best to avoid things like peer pressure, buying things you don't want.
Sometimes you may face challenges such as low income. Help teach students on how to save their pocket money.
Saving money helps you to build wealth, inspire others, help bring out your dreams.
Mboh Honorine Ngamboh
ReplyDeleteCameroon 🇨🇲
Budgeting is a plan on how to use and save money. Budgeting helps you see money as a tool and not as a stress. In order to efficiently budget I have to
- Define my incomes
-Define my expenses
-Set my priorities
-Allocate my income using a rule (always ensuring to save)
-Write down and review my budgets
I equally have to track my expenses. Budgeting will teach me discipline and how to avoid impulse spending.
Tadala Kandeya
ReplyDeleteFrom Malawi 🇲🇼
In this module, I have learnt that budgeting is mainly a plan for spending and saving money over time, like a financial map to avoid unnecessary spending. It matters for young people to gain control, prepare for emergencies, achieve dreams like education or business, and build discipline for leadership. Steps include knowing income sources, listing essential/needs vs. non-essential/wants expenses, setting priorities by questioning necessity, and allocating money. Track spending to reveal habits using notebooks, envelopes, spreadsheets, or apps like Mint or YNAB. Practical tools include banking (debit/credit cards, online apps), budgeting apps such as Mint, YNAB, Goodbudget, and savings platforms.
OLIVIA KAMPHALE
ReplyDeleteMALAWI
Brief Summary
Budgeting involves knowing how to manage one's money. It helps people to know how to control money and prepare for emergencies. Budgeting can also help one to achieve his or her dreams. Some of the steps that are needed when creating a personal budget include knowing your income, listing your expenses, and setting priorities, among other things.
Tracking your expenses and income is very vital in budgeting because it helps you to know how your money is spent. One can use banking tools, budgeting apps, savings and investment platforms, and simple habits as practical tools for managing daily finances.
Full name: David Kwame Vifah
ReplyDeleteCountry: Ghana
Summary of what you have learnt:
I have learnt that budgeting is like a financial map it guides me to prioritize needs over wants, save consistently, and plan for future goals. Using the 50/30/20 rule makes money management simple and practical. For example, I realized that cutting down on small “wants” like frequent outings allowed me to save more for investments. At Sunray Innovation, we apply the same principle in our agritech solutions: by helping farmers reduce unnecessary costs (like excess labor) and allocate resources wisely, we empower them to increase productivity and savings. This has shown me that budgeting is not only personal but also a tool for business growth and community empowerment. I now feel confident to teach others how to manage their money with discipline and purpose.
malama pole from Zambia
ReplyDeletefrom this module i have learned several things such as
. A budget is a plan for how you spend and save your money, helping you manage your finances effectively.
. Followings the 50/30/20 rule: 50% for needs, 30% for wants, and 20% for savings and investments this can help us to be financially disciplined and track all the expenses.
. Monitor where your money goes to identify wasteful habits and ensure your budget matches reality.
. Utilize banking tools, budgeting apps, savings platforms, and simple habits like keeping receipts and automating savings.
. It helps you achieve financial stability, avoid debt, and reach your goals, ultimately giving you the freedom to pursue your dreams.
Joseph Phiri
ReplyDeleteZambia
Nice lesson, I've learnt that a budget is simply a plan for how you will spend and save your money over a period of time, usually a month. It acts like a map that guides your financial journey. And many young people struggle to control their finances because they lack one of the most essential skills which is budgeting and money management.
Budgeting is important because It helps you prepare for emergencies and unexpected expenses, in addition to that Budgeting builds discipline, a skill that transfers into leadership and entrepreneurship. We need to know our expenses, which fall in either needs or wants. We further need to track our money to know were our money is going and what we are using it for, we can use practical tools to help us track our spendings.
Full name: Jabir Tukur Bakiyawa
ReplyDeleteCountry: Nigeria
Summary of what I have learnt:
I’ve learned that budgeting helps me take control of my money and avoid financial stress. Using the 50/30/20 rule, I can divide my income into needs, wants, and savings. Tracking expenses is key to making my budget work, and tools like apps and banking platforms make it easier. Budgeting builds discipline and helps me reach my goals, and I’m now ready to teach others how to manage their finances too.
Name: Chileshe Kabeke
ReplyDeleteCountry: Zambia
I have learnt that money for the most part is part of our daily lives. In order to keep it and use it wisely Budgeting is needed without it nothing much can be done as money will often disappear without giving any yield. It is important to understand the importance of budgeting, this will in turn give us the power we need to thrive. In order for us to save we need to learn to plan before spending. Because it will enable us to have control and prepare for emergencies. It also sharpens many essential aspects like discipline. It is also important to write it down, create your budget in sections distinguishing my income, expenses and priorities using a suitable formula, afterwards review and adjust where need be. This is because tracking your budget helps know if there are any wasteful habits. I have also learnt that the practical tools for managing daily finances such as the banking tools, budgeting apps, savings and investment platforms and simple habits are very essential. Despite the challenges budgeting comes with, I have learnt that it is important to always find a solution to a challenge whether it being peer pressure, low income or impulse spending as young people we need to foster innovation and creativity to solve this difficulty. When it comes to sharing the knowledge it is important to give practical realistic and relatable examples and demonstrations that will capture the learners attention. Budgeting involves our everyday life and literally shapes our tomorrow .
Am Janet Musate from Malawi.I have leant that Budgeting is a plan for how you will spend and save your money over a period of time,. And this helps one to prepare for emergencies, build discipline and also prepares one build wealth. Step followed when preparing a budget; know your income, list your expenses, set priorities, allocate money using formula the 50/30/20 rule which is 50% needs 30% wants 20% saving and investing, put it in writing and last step review and adjust. Budgeting works well when you track it since you will be able to identify wasteful habits and reveal where money truly goes, tracking is done by using manual notebook recording, budgeting app and more. Banking tools and budgeting app are tools for managing daily finances. Young people face challenges like low income, peer pressure and luck consistency.
ReplyDeleteNadine R Putana
ReplyDeleteFrom Zimbabwe
From the module of budgeting and money management l leant that money is essential in our day to day lives for example in education,health and to achieve dreams.The problem is young people people struggle with finances due to lack of essential budgeting and money management skills .Budgeting empowers you to turn money into a tool you control rather than a source of stress.l also leant what enterpreneural mindset and creativity is it is said to be the possibility of seeing opportunity where others see problems.This is a essential and useful tool in the lives of young youths from the age of 18 - 35 since it empowers you to overcome fear ,embrace challenges and innovate solutions that make a difference.l also leant about self discovery and personal growth where l got to understand that leadership begins with leading yourself.l. also leant on how to manage your finances and how to teach others why financial literacy begins with understanding money itself .A budget has been said to be a plan for how you will spend and save money usually over a month.Lt is said that a budget is a like a map for your financial journey.Budgeting helps gain control over your money,prepare for emergencies,achieve goals and build personal discipline.l got to learn about the steps to creating a personal budget which is by first knowing your income,list your expenses,set your priorities,allocate money,put in writing and lastly review and adjust .l also leant about the banking tools,budgeting apps,savings and investment platforms and the simple habits one has to develop for example keeping receipts,reviewing accounts weekly,automate saving.It has been made clear about the common budgeting challenges the young people face for example low income,peer pressure on spending ,impulse spending and lack of consistency.l got to learn that budgeting is more than money it teaches planning,discipline,Patience and responsibility
Rejoice Chingagwe
ReplyDeleteMalawi
From today's lesson on budgeting and money management, i have learnt that budgeting is essential to financial stability. Budgeting is key plan of how one can spend and save their money over a period of time. This plan mattrrs as one is able to gain financial control of themselves not letting money control them. It also builds financial discipline and the tho discipline transforms into leadership and entrepreneurship.in it also involves some steps like knowing your income,i thr list of expenses and setting of priorities.and in budgeting, one has yo track their expenses and income.tax Tracking your expenses helps you to see where you really id going and also ensures that thr budget makes reality.for some of the tools that one can use when budgeting is mania recording and using excel and google sheets.
Tabe Mary Enow TAKU
ReplyDeleteCameroon
In this module I have learned that budgeting is essential for managing finances effectively. It involves understanding income and expenses, setting priorities, and using a structured approach like the 50/30/20 rule. Tracking expenses is crucial to ensure that the budget is realistic, and practical tools like budgeting apps can help. Budgeting not only empowers individuals to control their finances but also prepares them for future goals and responsibilities. Additionally, teaching these skills to others can help build a financially literate community.
John Suab Kallon from Sierra Leone
ReplyDeleteFrom the KAFI Foundation’s module on budgeting and money management, I have learned that creating a budget is essential for taking control of my finances. A budget serves as a financial roadmap, guiding me to prioritize my needs over wants and stay focused on achieving my goals.
One key concept I learned is the 50/30/20 rule, which recommends allocating 50% of income to needs, 30% to wants, and 20% to savings and investments. This principle provides a balanced approach to managing money effectively.
I also discovered practical tools that can support financial organization, such as banking tools, budgeting apps, and savings challenges. These tools make it easier to track expenses, plan ahead, and develop better spending habits.
Furthermore, I gained valuable insights into common budgeting challenges—like impulse spending and lack of consistency—and strategies to overcome them through self-discipline and financial awareness.
Overall, I have learned that budgeting is not merely about managing money; it is about cultivating discipline, responsibility, and financial freedom that can lead to a more secure and fulfilling life.
I learnt that budgeting helps you to allocate your finances well and see how best you can manage your expenses. Also I learnt some practical tools that can help you plan appropriately
ReplyDeleteJAIRUS MAKOKHA MAYIKUVA
ReplyDeleteFROM KENYA.
A budget is a plan on how you are going to spend money over a certain period of time.
a budget helps youth to keep within a record and how to manage finances, also can help one to reach his or her own goal.
budget helps one to have gain control over money.
Blessings Matitha
ReplyDeleteFrom Malawi
Today's lesson teached mor about how youth can budget and how to track expenses and use Budgeting Apps: Apps like Mint, YNAB, and Goodbudget help you track how much you spend and save.
Teaching Budgeting in Schools: Use examples like pocket money to show how money works.
Create savings challenges and use games to make learning fun.
Challenge: Create a monthly budget using the 50/30/20 rule, track your spending for a week, and teach someone else how to budget.
Cynthia Manjawira from Malawi in today's module I've learned that budgeting is basically planning how to use your money wisely so it doesn’t just disappear. It helps you stay in control and reach your goals. You start by knowing how much you earn, what you spend on and then follow something like the 50/30/20 rule 50%needs, 30%wants and 20%savings. Tracking your money using apps or even a simple notebook makes it easier to stay organized things like peer pressure or low income can make it hard but with consistency and discipline it’s possible. In the end I've learned that budgeting gives you freedom and helps you turn your dreams into reality.
ReplyDeleteAlinafe Mponda from Malawi, I learned about budgeting so budgeting is a plan on how you will spend money
ReplyDeleteWhy budgeting matters young people you gain control over your money instead of money to control you and it helps you to prepare for emergencies and unexpected crisis
Steps
Know your income list expenses, set your priorities allocate money using a formula, put writing and review and adjust
Practical tools for managing daily finances like baking tools
Common budget challenge low income, peer pressure and improve spreading lack of consistent
Teaching budgeting to student
Use real-life examples like pocket money
My name is sphiwe kaluwa from Malawi
ReplyDeleteI’ve learned that budgeting helps me control my money instead of letting it control me. It teaches me to plan how to spend, save, and prepare for the future. By knowing my income, needs, and wants, I can make better choices, avoid waste, and build discipline. Budgeting gives me peace of mind and helps me reach my goals step by step.
Phalane TEBATSO South Africa.
ReplyDeleteBudgeting and money management helps us from having a financial stress.and i have learned about the 100% Savings method that is divided into three parts 50%=Needs
30%=wants
20% =saving.
Following these 100%method it will make to be free from stress of finance.
Wongani William Mvula
ReplyDeleteMalawi
Budgeting is our financial roadmap; it gives us control over money instead of letting it control us. It's a simple plan for our income and expenses. Everyone needs to start by listing all his/her money and where it goes, then allocate it using a rule like 50% for needs, 30% for wants, and 20% for savings. Tracking our spending is key to making it work. This skill turns money into a tool to achieve our dreams, avoid debt, and build a secure future, transforming financial stress into freedom and power.
Full name: Adego Hillary
ReplyDeleteCountry: Kenya
Summary of what I have learnt:
I have learnt that budgeting is an important skill that helps me plan, save, and manage my money wisely. Through tools like mobile banking, budgeting apps, and savings platforms, I can easily track my income and expenses. I also learnt that building good habits like keeping receipts, reviewing my spending weekly, and automating savings can make budgeting easier.
I now understand the 50/30/20 rule, which teaches me to divide my income into needs, wants, and savings. I realized that budgeting not only helps me avoid debt and impulse spending but also builds discipline and responsibility. Finally, budgeting gives me freedom and helps me work towards my goals, just like Maria’s story showed that small consistent savings can lead to big achievements.
Buhle Mnguni
ReplyDeleteSouth Africa
Budgeting and Money Management
This module emphasizes the importance of budgeting as a tool for financial empowerment, enabling individuals to control their money and achieve their goals. Key takeaways include:
- *Budgeting is a plan*: A budget guides financial decisions and helps manage expenses.
- *Why budgeting matters*: Prepares for emergencies, achieves dreams, and builds discipline.
- *Steps to create a budget*: Know income, list expenses, set priorities, and allocate money (50/30/20 rule).
- *Tracking expenses*: Essential for effective budgeting and identifying wasteful habits.
- *Practical tools*: Utilize banking tools, budgeting apps, and savings platforms for daily financial management.
By mastering budgeting, individuals can take charge of their finances, achieve financial stability, and teach others to do the same.
Precious Helard
ReplyDeleteMalawi
Budgeting empowers young people to control money, reduce stress, and achieve goals. This module teaches what budgeting is, why it matters, how to create and track budgets, and practical tools for money management.
Mary Orah from Malawi,in summary of what I have learnt on Budgeting and Money Management, I’ve learned that budgeting is a powerful tool that helps me take control of my finances instead of letting money control me. It has taught me how to plan wisely using the 50/30/20 rule—allocating my income to needs, wants, and savings. I’ve also learned the importance of tracking expenses, setting priorities, and being disciplined with money. This lesson has truly opened my eyes to how budgeting brings freedom, stability, and confidence in managing my financial future
ReplyDeleteJoy Ngum Ndalle
ReplyDeleteCameroon
I've learnt that budgeting is not a restriction, it's freedom. It's me taking charge of my everyday expenses to ensure my money doesn't just disappear. I can do that by tracking my expenses, knowing my income, using the 50/20/30 rule and much more. I can easily teach kids by using fun saving games, setting goals for fun things, etc
Full name : Chisomo Mambiya
ReplyDeleteCountry : Malawi
Budgeting works best when you track your spending because it shows where your money really goes, helps you avoid waste, and keeps your budget realistic. You can track expenses using notebooks, spreadsheets, cash envelopes, or budgeting apps like Mint and YNAB. Managing daily finances is easier with tools like debit cards, mobile banking, savings platforms, and investment apps. Building good habits—like keeping receipts, reviewing weekly, and automating savings—can make a big difference. Young people often face challenges like low income, peer pressure, and impulse spending, but these can be managed with smart strategies such as creating multiple income streams, using the 24-hour rule, and setting reminders. Teaching budgeting to students works well when using pocket money examples, fun savings challenges, and discussions about needs versus wants. Overall, budgeting builds discipline, responsibility, and financial freedom, helping you avoid debt, plan for the future, and support your community.
ReplyDeleteBrigid jepkoech -kenya
Take aways:
Budgeting is essential
plan that helps manage how we spend and save money. It gives control over finances and helps us reach goals like education, travel, or starting a business. To create a working budget, know your income, list your expenses, set priorities, and use a simple formula like the 50/30/20 rule (needs, wants, savings). Tracking our income and expenses helps us see where our money goes and avoid waste. Tools like budgeting apps, mobile banking, and savings platforms make managing money easier. despite challenges like low income and peer pressure, budgeting helps build discipline and confidence.
OVERALL budgeting turns money into a tool that supports DREAMS and FUTURE success.
Full name: mark Injendi mutoro
ReplyDeleteCountry:kenya
A budget is a plan on how someone spends money over a certain period of time.
a budget helps youth to keep within a record and how to manage personal finances, also can help one to reach his or her own goal.
budget helps one to have gain control over money.
Name : Precious Joshua Mkomo
ReplyDeleteCountry: Malawi
i have learned that budgeting is essential for taking control of my finances. A budget is a plan for how I will spend and save my money, giving me power over my financial journey. To create a personal budget, I will follow steps like knowing my income, listing expenses, setting priorities, allocating money using the 50/30/20 rule, and tracking my spending. I will use practical tools like banking apps, budgeting software, and savings platforms to manage my daily finances. I am aware of common challenges like low income, peer pressure, and impulse spending, but I am equipped to overcome them. By mastering budgeting, I will be able to achieve my goals and teach others, especially students, how to manage their finances effectively.
Ebrima Touray
ReplyDeleteGambia
My takeaway from this module: I’ve learned that budgeting goes beyond managing money. It’s about planning, discipline, and responsibility. It will help me set priorities, avoid unnecessary spending, and prepare for future goals. I now understand that budgeting is a tool for freedom, not limitation, because it gives control over my finances and peace of mind. It also helps me to build good habits that lead to wealth creation and financial independence. Most importantly, budgeting empowers young people like me to turn dreams into achievable goals and contribute to the growth and stability of our communities through responsible financial decisions.
Mohamed Babah Fofanah
ReplyDeleteFrom Sierra Leone
This module highlights practical tools for managing daily finances, including the envelope system, Excel/Google Sheets, and budgeting apps like Mint and YNAB. It emphasizes using banking tools (cards, online banking), savings platforms (PayPal, investment apps), and adopting habits like keeping receipts and automating savings. It emphasizes the Challenges young people faced some of which include low income, peer pressure, impulse spending, and inconsistency, which can be addressed through multiple income streams, saying no, and reminders.
Teaching budgeting through relatable methods like pocket money, savings challenges, and role-plays fosters understanding. Case studies illustrate how disciplined budgeting leads to success, while neglect results in debt. Overall, budgeting instills planning, discipline, and responsibility, crucial for wealth-building, debt avoidance, and community contribution.
This has inspired me to adopt better financial habits and teach others the importance of responsible money management.
Makoabola Mathaphoalne
ReplyDeleteLesotho
Budgeting helps us control our money and reach our goals.
It involves planning how to spend, save, and track your income and expenses.
Key points:
Use the 50/30/20 rule: 50% Needs, 30% Wants, 20% Savings.
Track spending to see where your money goes.
Use tools like banking apps and budgeting apps.
Avoid impulse buying and peer pressure.
Review your budget regularly and adjust as needed.
Lesson: Budgeting builds discipline, reduces stress, and turns money into a tool for achieving your dreams.
Bailor Jalloh
ReplyDeleteSierra Leone
Through this module, I have learnt that budget is a plan for how i will spend and save money over a period of time,. It is like a map that guides financial journey.
Why Budgeting Matters for Young People
You gain control over your money instead of letting money control you.
It helps you prepare for emergencies and unexpected expenses.
It makes big dreams (education, business, travel, home ownership) possible by breaking them into smaller, achievable steps.
Budgeting builds discipline, a skill that transfers into leadership and entrepreneurship.
Name: Maimuna Simba
ReplyDeleteCountry: Malawi
On Kafi budgeting and money management module has equipped me with knowledge on how I can drive a clear budget and how I can be managing my money.Initially I had zero knowledge about the 50/30/20. Formular but now it's a history and I'm ready to conceptualise this knowledge personally and share to others for instance learners in schools.Overall,budgeting is more like a blueprint which help individuals to spend and track finances effectively for financial growth.
NAME: Mbaimba Adam Fofanah
ReplyDeleteCOUNTRY: Sierra Leone
SUMMARY :
From this module on Budgeting and Money Management, I learned that budgeting is a practical plan for managing income, expenses and savings effectively. It helps in setting priorities, distinguishing needs from wants and preparing for unexpected situations. The 50/30/20 rule, 50% for needs, 30% for wants and 20% for savings or investments, provides a clear guide for spending wisely. I also discovered the importance of tracking money using tools like notebooks, spreadsheets or budgeting apps. In general, budgeting promotes financial discipline, responsibility and independence, empowering young people to achieve their goals and secure their future.
Charity Mkandawire from Malawi
ReplyDeleteFrom lesson 2, have learnt how important budgeting and money management is. As it acts a map making sure we don't spend money anyhow knowing that it touches every area of our lives. So budgeting helps in tracking expenses and income.
Every budget made gives the right direction to a plan made in accordance to budget. So far this is the only way to succeed in life since planning to fail is failing to plan.
This is helpful to gain control over money instead of letting money controlling you.
From Eswatini
ReplyDeleteBudgeting is an important life skill that helps individuals understand and control how they use their income. By keeping track of spending, one can make sure that money is used wisely rather than wasted on unnecessary things. The 50/30/20 rule is a simple and effective method to follow. It suggests that 50% of your income should go toward essential needs (like food, housing, and transport), 30% for wants (such as entertainment or clothing), and 20% should be saved or used to pay off debts. This rule makes saving easy, practical, and stress-free, helping people build financial security over time.
However, when someone spends carelessly without tracking their expenses or differentiating between needs and wants they can quickly fall into debt. Overspending can create financial pressure and limit one’s ability to meet future goals.
That is why it is crucial to teach students about budgeting from an early age. Educators and parents should help them learn how to manage their pocket money, prioritize needs over wants, and develop consistent saving habits. Teaching them to plan their spending encourages financial discipline and helps them form good money habits that will benefit them in adulthood. Consistency is key budgeting should become a regular practice, not something done only when money runs out.
Full name: Emmanuel Magombo
ReplyDeleteCountry: Malawi 🇲🇼
First of all I've learned that creating a budget is essential for taking control of my finances. A budget is like a map that guides my financial journey, helping me prioritize needs over wants and achieve my goals.
Further more Money is an essential part of everyday life. It influences nearly all activities we engage in, such as education, health, and the pursuit of personal goals. Because of its importance, developing a strategy on how to spend and save it also becomes a crucial skill. This skill is what is called budgeting.
In addition, It is important to know the difference between needs as well as the wants, apply the 50/30/20 rule [give 50% to important needs, 30% it is for wants, and allocate 20% it to your savings or investments] ,aside from that to know every expense to avoid spending aimlessly.
Tracy chipongoma
ReplyDeleteZambia
Budgeting helps build discipline, planning and responsibility. In terms of discipline, since a budget is a plan on how money will be spent and saved during a period of time, ad youth's we learn to stick and keep track of plans. Responsibility, by categorizing expenses in needs ,wants and savings, saying no to peer pressure and avoid spending on unnecessary things.
I've learnt how to create a budget and that my income determines how much u save and spend.
How to keep track of every expense by taking notes and keeping receipts
I have learned that budgeting is a simple but powerful way to plan how to spend and save money. It helps me take control of my finances instead of letting money control me. Through budgeting, I can prepare for emergencies, achieve goals like education or business, and develop discipline and responsibility.
ReplyDeleteI learned the steps to creating a personal budget starting by knowing my income, listing my expenses (needs and wants), setting priorities, and using the 50/30/20 rule to divide my money wisely. I also learned the importance of tracking my expenses and income to see where my money really goes and to adjust my budget when needed.
The module introduced me to practical financial tools, such as mobile banking, budgeting apps, and savings platforms, as well as simple habits like keeping receipts and automating savings.
I also understood common challenges young people face in budgeting, like low income, peer pressure, and impulse buying, and how to overcome them through planning and discipline.
Finally, I learned how to teach budgeting to students using real life examples, games, and discussions about needs and wants. Overall, budgeting is not just about managing money it’s about building a better, more stable, and responsible future.
I have leant that budgeting is important as it helps you to be able to control how you spend and save your money. When budgeting you should use the 50/30/20 rule whereby 50%of your earnings are used for needs,30% wants and 20% savings. Budgeting helps one to prepare for emergencies. When budgeting you must know your earnings and expenses.
DeleteJoseph Mwamlima
ReplyDeleteMalawi
Budgeting is an important lesson for all ages. I have learnt that budgeting is a great tool that is used to control ones income, that is if you don't budget then money will eventually control you. In budgeting, you need to understand the difference between needs and wants so that you can priotize accordingly. Budgeting also involves tracking your spending and it encouraged all to write down all purchases so that at a certain point you can be able to evaluate it
Vincent Olwanda
ReplyDeleteKenya
Summary
Budgeting is a powerful tool for financial control and personal growth. It involves planning how to spend and save money, using steps like knowing your income, listing expenses, setting priorities, and applying the 50/30/20 rule. Tracking expenses helps identify waste and improve habits. Tools like mobile banking, budgeting apps, and savings platforms make money management easier. Teaching budgeting to students through games and examples builds financial literacy early. Budgeting fosters discipline, reduces stress, and turns dreams into achievable goals.
Meshack Muuo Muasya
ReplyDeleteKenya
Cohort 5 (Batch A)
Group C
I learned that budgeting and money management are essential skills for taking control of finances and turning money into a tool rather than a source of stress. A budget is a plan that helps track income and expenses, prioritize needs versus wants, and allocate money effectively, for example using the 50/30/20 rule for needs, wants, and savings. Tracking spending through notebooks, apps, or banking tools ensures the budget matches reality and identifies wasteful habits. Budgeting builds discipline, prepares for emergencies, enables goal achievement, and supports wealth creation while avoiding debt traps. I also learned practical ways to manage daily finances, including using mobile banking, savings apps, and simple habits like reviewing weekly or automating savings. Common challenges like low income, peer pressure, impulse spending, or inconsistency can be overcome with planning and simple strategies. Teaching budgeting to students through games, savings challenges, and relatable examples multiplies impact and promotes financial literacy. Overall, budgeting is a foundation for personal independence, responsibility, and community empowerment.
Greciano Hezekiah
ReplyDeleteThis module talks about proper management of finance by highlighting what budgeting is, steps, importance and challenges of unbudgeted money. From this module, I have cone to realize importance of rules like the 50/30/20 which I didn't knew previously. I think it can help any individual or organization to always allocate it's finances properly.
In addition, I have also learned that proper budgeting relieves a person or organization from stress, unnecessary loans and pressure and other crimes. Hence, it is always and a MUST to budget our finances properly.
Full name: Priscilla Amour
ReplyDeleteSouth Sudan
Cohort 5,batch A
Group A
I learnt that budgeting is not a restriction, but a tool for financial freedom. It helps prevent poor spending habits, reduces money stress, and allows me to plan my future wisely. I also learnt practical strategies like the 50/30/20 rule, tracking expenses, and teaching others how to manage money. Budgeting is the link between my dreams and my reality, and through it I can make better decisions, reach my goals, and contribute positively to my community.
Rafique William Mponda
ReplyDeleteMalawi
Cohort 5 (Batch B)
Group F
In this module, I've learnt that budgeting and money management are more like a map that guides one towards financial freedom. It's a toolkit that mainly helps us to avoid debt and poor spending habits, and without these two factors, people tend to mismanage their finances. Altogether, budgeting and money management work hand in hand towards building self-discipline, thereby helping in the achievement of goals. It is therefore important to classify our budget based on needs and wants.
One of the most important theories I've learnt in this module is that of the 50/30/20 rule. This rule divides your plan into three chunks, 50% on needs, 30% on wants and finally 20% on savings. This theory has taught me that at the end of the day, it's not all about how much you spend on your personal needs and wants, but what's more important is what you keep for emergencies and unexpected expenses.
Finally, let's make use of the different technological advancements (like Excel and budgeting apps) that are available in order to track and manage our finances much better.
RANUECK THENFORD
ReplyDeletecountry :Malawi
COHORT 5,Batch A
Group A
From this module i have learnt amazing lesson about budgeting and money management that budget is simply a plan guiding us on how we can spend our money and save our money. I have also learnt that it matter to us to budget because we gain control over money, prepare for emergencies and build discipline within us. On ther side, I have gained a knowledge on how ti create personal, that we need to know our income, expenses, setting priorities, allocate money using 50/30/20 rule and put our plan in writing while reviewing them. Another lesson i have learnt is about tracking our expenses and income beacause it reveals how we spend our money by using manual notebook recordings, envelope system and google sheets. I have also learnt common challenges people when budgeting, these include peer pressure, low income, and impulse spending. Finally its about how we can teac students about budgeting by pocket money as examples.
Diana khauya
ReplyDeleteCohort 5
Ground B
Budgeting is planning how to spend money over a period of time. Budgeting helps in preparing emergencies, making dreams become a reality and also builds discipline. knowing your income, listing your expenses, setting priorities,allocating money, putting a budget into writing can help to have a successful budget. Peer pressure, low income,lack of consistency can be some of the challenges in making a budget.
Full name:
ReplyDeleteHope Malambo
Country:
Zambia
Group B
I have learnt that budgeting is a powerful tool that helps me take control of my money instead of losing it to impulse spending or poor planning. A budget acts like a map that guides how I spend, save, and prepare for the future. I now understand the steps involved in creating a personal budget—starting with knowing my income, identifying needs and wants, setting priorities, and using the 50/30/20 rule to allocate money wisely. I also learnt the importance of tracking expenses, using digital tools, banking apps, and simple habits to stay consistent. This module taught me common financial challenges young people face, how to overcome them, and how to teach budgeting to students using practical examples. Overall, I have learnt that budgeting builds discipline, reduces financial stress, and helps turn long-term dreams into achievable goals.
Funny Chapalapata
ReplyDeleteMalawi
Cohort 5
Batch B
In this module i have learnt that budgeting gives you control over your money, in such a way that you plan for everything before it falls into its place hence when using the money you don't feel like your wasting.
I have also learnt that one needs to have discipline when spending money that includes know your needs and wants hence you can be able to delay other non essential to make sure that you do not run out of money.
Another point is that one must be accountable of each and every penny he or she is sending.
Through this lesson i will be able to share to students that you dont need more money for you to save but you can start from the little you get for instance pocket money and know what are the things you need to spend money on not forgetting tracking your expenses.
Tumpale Mkandawire
ReplyDeleteCohort 5 Batch B (subgroup F)
Module 5
Budgeting and money management is an essential skill that one has to develop inorder to avoid money controlling them whenever they have it thereby being able to have financial discipline which is also an essential leadership skill for young people who want to be leaders. It also helps one to be prepared for any emergencies as saving up is a part of the budgeting.
Fuller Name: Lisah T Murewa
ReplyDeleteCountry:Zimbabwe
Batch: A
Summary
I have understood that budgeting is creating a plan for how you will use your money so it doesn’t disappear.It starts with knowing your income, listing your expenses, and separating them into needs and wants. Using the 50/30/20 rule helps you allocate money wisely 50% for needs, 30% for wants, and 20% for savings or investments. Writing down your budget and tracking your spending through a notebook, spreadsheet, or budgeting app helps you stay disciplined. Young people may face challenges like low income, peer pressure, and impulse spending, but good habits such as reviewing your budget monthly, keeping receipts, and automating savings make money management easier and more effective.
Sarah Benson
ReplyDeleteMalawi
Cohort 5
Group A
Batch A
Module 1 Summary
Budgeting helps you take control of your money by planning how to spend and save it. It teaches discipline, helps you reach your goals, and prevents wasted spending. A good budget starts with knowing your income, listing your needs and wants, and using tools like the 50/30/20 rule. Tracking your expenses is essential, and simple habits or apps can make it easier. Young people can use budgeting to avoid debt, save for dreams, and even teach others how to manage money.
Today lesson has been really educative and it highlighted important parts l was missing when budget my income ,l have learnt not to only write down the budget but how to create an effective link with technology in achieving my money management in budgeting.as well as some investment l can do online to save money than keeping it at home which l end up using after few days of saving it.
ReplyDeleteLonjezo Banda
ReplyDeleteMalawi
Cohort 5, Batch A
Group A
Module 1.
This module emphasizes that budget helps to differentiate the need and wants. Budgeting facilitates generation of plans which provides a track of your income and expenses, set goals and manage debts. It prevents unnecessary spending, builds discipline and resilience. Use of 50/30/20 rule accurately track financial progress and take an immediate action if you are overspending. Knowing your income and priorities in life direct financial analysis. I have also known budgeting applications like Ynab and goodbudget through this module. Overall, I have learnt that budgeting acts as a bridge to success which eventually leads to financial independence.
Mahlohonolo Futho from Lesotho
ReplyDeleteCohort 5
Batch A
Group B
Module 1 – Budgeting Teaches how to plan and track your money; how to build a budget, manage expenses vs income, prioritize needs vs wants, and use budgeting tools (mobile apps, notebooks and many others.) to control money and meet goals.It helps prevent unnecessary spending, builds discipline and resilience.
Name: BRIAN CHIYANDA
ReplyDeleteCountry: ZAMBIA
MODULE 1
Cohort 5, Batch A
DAY 2
Budgeting and Money Management.
From the day 2 module on budgeting and money management, I've learned that money is power that controls the aspects of life. Secondly, it’s the skill of budgeting, Budgeting is the power that drives one on the road to proper money management by helping me prioritize needs over wants and achieve my goals. Additionally, I've also learned about practical tools for managing daily finances, such as banking tools, budgeting apps, and savings challenges. To crown it, I've gained insights into common budgeting challenges and how to overcome them. Overall, I've learned that budgeting is not just about managing money, but also about building discipline, responsibility, and gaining financial freedom.
Rasool William Bennie
ReplyDeleteFrom Malawi
Cohort 5 (Batch A)
Group C
Budgeting isn’t about restricting yourself. it is about giving yourself freedom. When you manage your money well, you avoid stress, avoid regrets, and move closer to your goals. For young people, a budget is the tool that helps turn dreams into real plans.
The challenge is simple: make a monthly budget using the 50/30/20 rule, track your spending for a week, and teach someone else how to budget. This way, you grow and help someone else grow too.
Micah Chagunda
ReplyDeleteMalawi
cohort 5 group H batch B
Budgeting and money management have taught me how to control my spending, plan wisely and reduce financial stress by understanding my income and organizing my expenses into needs and wants. By using the 50/30/20 rule, 50% for needs, 30% for wants and 20% for savings and investments. I can manage my money more effectively. Tracking my expenses through notebooks, apps or spreadsheets helps me see where my money really goes and improve my habits. Overall, budgeting builds discipline, prevents debt and creates financial freedom, making it a powerful tool that turns my goals and dreams into achievable realities.
Ngene Charles Chukwuka
ReplyDeleteNigeria
Cohort 5 Batch B
Budgeting and money management really taught me how budgeting works and the important of it for my daily life. It taught me about consistency , discipline on how to manage money and if been practiced, I will achieve beyond my income.Budgeting helps in savings and also investing without borrowing.
Margaret mwale from Zambia
ReplyDeleteCohort 5 batch C
I have learnt the importance of being disciplined financially as it helps one to invest and spend correctly.When you budget you give yourself financial freedom.I have also learnt how to track my expenses ,different rules and strategies.
Charles Boimah Gray
ReplyDeleteLiberia
Cohort 5
Group A, Batch A
Module 1
Budgeting and money is a vital tools of our lives because it touches every area of our lives. I learnt a lot about budgeting and money. It teaches us to make a plan on how we spend and save our money, it serves as a guidelines to use our money wisely. Budgeting is essential to our daily lives because it helps to make dreams turn into reality by gaining control over our money, preparing for emergency and planning to overcome circumstances.I learnt that it's a tool to discipline, leadership and entrepreneurship. It helps us to know our income, understand our needs from our wants and work towards it, setting goals, to take daily records of our financial activities by reviewing and making adjustments of our budget. Budgeting empower young people to be financially stable to avoid poverty and financial illteracy by building wealth avoiding debt traps.
Sanusi Garba mabera
ReplyDeleteNigeria
Cohort 5 Batch B
Module I Budgeting and Money Management
From this module, I learned that budgeting is a simple plan that helps you control your money instead of letting money control you. It shows the difference between needs and wants, and helps you save for important goals. I understood the steps in creating a budget—knowing your income, listing expenses, setting priorities, and using the 50/30/20 rule. I also learned the importance of tracking my spending, using banking tools and budgeting apps, and avoiding common challenges like peer pressure and impulse buying. Overall, budgeting builds discipline and helps young people achieve their dreams
Joseph olinga,🇺🇬 cohort 5,group E,from this module ,I learnt that budgeting is essential for everyone who plans to progress with their daily life endeavours,budgeting guides us on what is important and necessary for our lives and assists us to avoid spending excessively on things that don't matter in our daily lives.the insights and practical aspects shared assists me to reflect personally on my daily expenses and how I budget my money.with this knowledge ,it has given me sense of direction in which to assist young people in my community development the habit of budgeting and proper use of their financial resources.
ReplyDeleteKENNY BWLAYA
ReplyDeleteZAMBIA
COHORT 5 BATCH B
GROUP F
Summary: i have learnt that a budget is a foundational financial plan that empowers us to take control of our money by tracking income against expenses, ensuring that we spend intentionally and live within our means. By categorizing spending and assigning every dollar a specific purpose, from essential bills and debt payments to savings goals and discretionary wants. A budget transforms our financial habits from reactive to proactive. This simple yet powerful process not only helps us avoid debt and reduce stress but also actively guides towards achieving short- and long-term financial objectives, making it the essential first step for building a secure and purposeful financial future.
Hanifa Makunganya
ReplyDeleteMalawi
Cohort 5, Batch A
Day 2 summary
In this module on Budgeting and Money Management, I learnt how to plan my money wisely, track income and expenses, and make sure I spend less than I earn. I learnt the importance of saving regularly, setting financial goals, and avoiding unnecessary debt. The module also taught me how to prioritize needs over wants, manage money for emergencies, and make smarter financial decisions. By applying these lessons, I can create a stable financial foundation, build wealth over time, and make my money work for me instead of letting it control me.
Aaron Tembo
ReplyDeleteMalawi
Cohort 5
Batch A
Budget is a plan that one makes on how to use their money over a period of time. Every money that one gets have to know the percentages of needs, wants and how much to invest that from the small amount made, one should have a profit this is called 50/30/20. Fifty percent for needs thirty percent for wants and twenty percent for investments. This helps one to reduce unnecessary money waste and helps to free you from money stress
Bully Fofana
ReplyDeleteThe Gambia
Cohort 5, Batch A
In the budgeting and money management module, I learned how to take control of my finances instead of reacting to them. I now understand how to create a simple spending plan, separate needs from wants, and track where my money goes each month. The course also showed me the value of setting financial goals, building an emergency fund, and using savings habits to stay prepared for unexpected expenses.
Another important lesson was understanding cash flow. I learned how to monitor income and expenses, adjust when things change, and avoid common mistakes like overspending or relying on credit for short-term comfort. Overall, the module helped me develop a more disciplined mindset toward money and taught me practical steps to make better financial decisions.
Full name: Peter Mwangi Nderitu
ReplyDeleteCohort 5, Batch A, Group C
Country: Kenya
Summary of what I have learnt: I’ve realized that budgeting isn’t just about money, it’s about being organized, disciplined, and responsible. Using the 50/30/20 rule helped me plan my income for needs, wants, and savings. Tracking my expenses for a week showed me where I spend without thinking. Teaching a friend how to budget made me see how simple it can be. Overall, budgeting feels freeing because it helps me avoid debt, save, and work toward my goals.
Elizer Kanyika
ReplyDeleteMalawi
Cohort 5
Batch A
Group A
Budgeting and money management module
From this module I have learnt that budgeting is not about how you will use or save your money but rather it helps an individual to build planning skills, discipline and being responsible in each and everything a person is doing. Additionally, I have also learnt that budgeting helps a person to develop control of money which can help to reduce stress that comes with money due to poor budgeting. Another things that I have learnt is that a person need to know the source of his or her income, set priorities allocate the money using 50, 30 20 formula rule in order to have all the needs, wants and savings and investment sorted. Last but not least I have learnt that a lot have control over money you need to learnt o say no from peer pressure without feeling guilty so that you spend within your means.
Alhaji Mohamed Saffaieu Jalloh
ReplyDeleteSierra Leone 🇸🇱
Cohort 5
Batch A
Group C
A budget is a plan that guides how an individual spends money over a period of time. It is a discipline method of calculative spending that will ensure savings and investment.
Also, knowing ones income is a key step to creating a budget by that, one would have understood what he is earning or saving over a period of time as that would define how one would allocated or attached fund to different items to the budget.
Another vital area I learnt also has to do with the wants and needs for someone like me it is highly essential that i will employ this method by identifying my wants and needs before spending money initially, I use to spend a lot on my wants instead of my needs failing to comprehend that the two are different.
I also learnt that tracking the budget expenses is essential. One should be discipline because by that way he would be able to keep track of his spending and also one should know the loopholes that comes with over spending that were not captured in the budget.
This lesson has been very helpful to me because I lack that discipline aspect of creating a budget that defines how I spend income.
Alhaji Mohamed Saffaieu Jalloh
ReplyDeleteSierra Leone 🇸🇱
Cohort 5
Batch A
Group C
A budget is a plan that guides how an individual spends money over a period of time. It is a discipline method of calculative spending that will ensure savings and investment.
Also, knowing ones income is a key step to creating a budget by that, one would have understood what he is earning or saving over a period of time as that would define how one would allocated or attached fund to different items to the budget.
Another vital area I learnt also has to do with the wants and needs for someone like me it is highly essential that i will employ this method by identifying my wants and needs before spending money initially, I use to spend a lot on my wants instead of my needs failing to comprehend that the two are different.
I also learnt that tracking the budget expenses is essential. One should be discipline because by that way he would be able to keep track of his spending and also one should know the loopholes that comes with over spending that were not captured in the budget.
This lesson has been very helpful to me because I lack that discipline aspect of creating a budget that defines how I spend income.
Joana Mongola from Malawi
ReplyDeleteCohort 5
Batch B
I have learned that budgeting is a simple plan for spending, saving, and managing money monthly, acting like a map to prevent funds from disappearing on unnecessary expenses. I have learned the 50/30/20 rule—50% for needs like food and school fees, 30% for wants like entertainment, and 20% for savings to prioritize essentials and build discipline for dreams like education or business. I have learned to track income from allowances or side hustles and expenses using notebooks, apps like Mint, or envelopes, while reviewing monthly to adjust for challenges like peer pressure or low income. I have learned practical tools like mobile banking and habits such as the 24-hour rule .
Name: Rehannah Labane
ReplyDeleteCountry: Botswana
Cohort (group): H
Batch: 5 cohort B
Budgeting & money management
A budget is a road map of how to use your money.
There are steps to creating a budget:
1. Knowing my income and its forms.
2. Listing my expenses mainly into needs and wants.
3. Set priorities, for survival and value purposes
4. Allocate money: 50/30/20 rule.
Needs/wants/savings
5. Put in writing, a notebook could work/ Budgeting app
6. Review and adjust as fitting
Tracking helps trace where money truly goes whish curbs wasteful spending and ensures Budgeting is realistic.
HOW: 1. Manual notebook
2. Envelope system
3. Excel/Google sheet
4. Budgeting apps, e.g MINT, YNAB, PocketGuard
Daily practical tools to help include: banking apps (mint,goodbudget) , banking tools (debit card, online banking), savings (saving challenges), simple habits.
Problem I may encounter and possible solutions: low income>>>multiple income
Peer pressure>>> say NO
×Consistency>>>set reminder
Impulsive spending>>> 24hr rule (non essentials)
Inziani Shelmith
ReplyDeleteCohort 5(Batch A)
Module 2
A budget is like a map that guides ones financial journey.helps individuals prioritize needs over wants and achieve the goals
One should practice the 50/30/20 rule, which is a practical step and formula that can help young people by prioritizing needs over wants and as well engaging in savings and investment
FULL NAME: SALIMU RAMADHANI JUMA
ReplyDeleteCountry: TANZANIA
Batct B COHRT 5
sub group F
Module 1.
Summary: A budget is simply a plan for how you spend and save your money, over period of time. Budgeting and money management involve planning how to use your income wisely to meet your needs, save, and avoid unnecessary debt. It includes tracking your expenses, setting financial goals, and making sure you spend less than you earn. With good budgeting, you can prioritize important costs like food, rent, education, and savings, helping you stay in control of your finances and prepare for the future.
Richard Okoth
ReplyDeleteKenya
Cohort 5
Batch F
Day 2-Module -1
I have learnt that budget is not about planning or saving for your money, but it helps you to build a future plan, bring personal discipline and responsibility in any activity that you perform, Proper budgeting is the bridge between anybody's dream and the reality and youth are encouraged to apply the 50/30/20 rule of saving to build wealth and be independent
Name: Alpha Joe Bosco Komba
ReplyDeleteCountry: Sierra Leone
Batch : B
Group: G
In my own understanding budgeting it helps us shape our future. .Before you make a purchase one must know their needs and wants and it is mostly adviced to prioritize needs before wants..wants are countless and most of the times keeps changing with the seasons, needs however are essential human priorities. By categorizing spending and assigning every dollar a specific purpose, from essential bills and debt payments to savings goals and discretionary wants. A budget transforms our financial habits from reactive to proactive
Mercy Chunga
ReplyDeleteMalawi, Cohort 5 batch C group J
From this Moodle I have learnt that Budgeting is a game-changer for managing my finances effectively, by creating a budget, I will gain control over my money, prioritize needs over wants, and make progress towards financial stability. The 50/30/20 rule is a simple yet powerful framework to allocate my income: 50% for essential needs like rent and food, 30% for discretionary spending, and 20% for savings and investments. Tracking my expenses is crucial to ensure I'm sticking to my plan, and there are many practical tools to help me do so, such as budgeting apps, spreadsheets, and even just writing it down in a notebook. By mastering budgeting, I will be able to build discipline, avoid debt traps, and make progress towards my long-term goals, whether that's buying a home, funding my education, or simply feeling more secure about my finances. It's not about restricting myself, it's about making conscious choices that align with my values and priorities.
Rophy Makokha Barasa
ReplyDeleteKenya
Budget helps plan for earning s and expenditure.
Write your budget.
Track your spending
Ropafadzo Abigail Tambara
ReplyDeleteCohort 5 . Batch C
Zambia
Im this lesson I have learnt about new principles of budgeting that will help me in my day to day experience since finances shape all aspects of life. As we have been learning in past lessons, financial literacy is an art and science which also includes one to know good budgeting. It is reality that a youth suffer with control of finances because of lack of skill and art. The skill and art of good budgeting includes, good planning, knowing one’s finances , how regular they get the finances, where they get their finances and monitoring one’s finances. Budget includes planning to save money overtime. For one to have a plan that survives overtime there is need to one to have a recorded budget either in book, spreadsheets , word documents as long as one can easily track their spending. I have learnt a new thing about budgeting which is the 50/30/20 rule that states that 50 percent should go to needs ( things for survival and growth ) and 30 percent for wants ( eg upgrading to a new phone ) and 20 to savings ( for emergencies or future goals ). During the journey of budgeting as young people we face a lot of challenges that include low income , peer pressure to match up with others spending and inconsistent mindset. A lot of people may have challenges in saving money that is why there is need for debit cards , savings accounts , minting blocks for staking money eg Cardano where one can keep money and get rewards as motivation or it doesn’t comes. As KaFi leaders who teach others about financial literacy we should walk the talk and budget well , show the students real evidence , provide games that makes learning interesting and reward yourself and students when you reach budget targets.
Mloiso Mathews Katete
ReplyDeleteMalawi
Cohort 5(Batch c Group J
After reading this module, I have learnt that budgeting and money management are powerful tools that can truly change how I handle my life and future. I now see that a budget is not about limiting myself, but about giving my money direction and purpose. It has taught me how to organise my income, separate my needs from my wants, and make choices that support my goals rather than derail them. I also understand the importance of tracking my spending and using simple digital tools to stay consistent. Most importantly, this module has shown me that good money habits can reduce stress, prevent unnecessary debt, and help me build a stable future. I feel better equipped not only to manage my own finances, but also to guide other students in learning these skills and becoming more confident with their money.
Pascaria Musengya Muthiani
ReplyDeleteKenya
Cohort 5 Batch C Group J
From this module I have learnt that budget is a key tool in achieving financial freedom. If you don't budget your money will always disappear. When creating budget I should know my total earnings from the different sources of income if many. I should list my expenses, set a priorities by questioning if the items I can do without or if add value towards achieving my goals. Use the formula 50/30/20 rule where 50% of my earnings covers needs,30% caters for wants and 20% savings and investments. I put all this in writing whether notebook or sheets. I should review and adjust my budget after a month since life happens and unplanned things show up. Tracking my expenses and incomes will help me know exactly where my money goes, identify any wrong spending and ensure budget matches reality. Budgeting may not be effective due to low income hence it is required I have several sources of incomes. Learn not fall to peer pressure by saying no to what does not align with me. Budgeting builds discipline, patience and makes me responsible and the fruits are I will build wealth,avoid being victim of debts, inspire others and contribute to community's growth by empowering others.
Name: Gladys Disemba
ReplyDeleteCountry: Malawi
Cohort 5 (Group I)
Batch C
In summary
Budgeting is essential for young people aged 18-35 as it helps track how to spend money. It facilitates a mindset change and growth, as one learns to prioritize spending on essential things. When one budgets their money, it reduces the stress that comes from failing to achieve goals because the money is already allocated according to needs and wants. Budgeting is also crucial as it helps one set boundaries and choose wise friends over those who spend without a budget. This module is very important as it can be taught to young people under 18 to start budgeting the money they are given as pocket money daily when going to school by setting aside a small amount daily to maximize it.
Name: Gladys Disemba
ReplyDeleteCountry: Malawi
Cohort 5 (Group I)
Batch C
In summary
Budgeting is essential for young people aged 18-35 as it helps track how to spend money. It facilitates a mindset change and growth, as one learns to prioritize spending on essential things. When one budgets their money, it reduces the stress that comes from failing to achieve goals because the money is already allocated according to needs and wants. Budgeting is also crucial as it helps one set boundaries and choose wise friends over those who spend without a budget. This module is very important as it can be taught to young people under 18 to start budgeting the money they are given as pocket money daily when going to school by setting aside a small amount daily to maximize it.
Linda sikelo from Malawi
ReplyDeleteI have learn how to manage my money in a more organized and stress-free way. Making a monthly budget with the 50/30/20 rule can helps me to see how much I should spend on needs, wants, and savings. Tracking my expenses for seven days can shows me where my money actually goes and helps me notice any bad spending habits. When I teach someone else how to budget, it also improves my own knowledge and confidence. Overall, this challenge teaches me responsibility, better decision-making, and how to plan for a more stable financial future.
Name; Lesley mutua
ReplyDeleteCountry; Kenya
Cohort 5; batch C(group L)
I have come to understand that budgeting is a vital skill that helps me organize my finances, save consistently, and make smarter money decisions. With tools such as mobile banking, budgeting apps, and online savings platforms, tracking what I earn and spend has become much easier. I also discovered that simple routines—like keeping receipts, checking my expenses every week, and setting up automatic savings—can make budgeting more manageable.
I now know how the 50/30/20 rule works, showing me how to divide my income between essential needs, personal wants, and savings. I’ve realized that budgeting protects me from unnecessary debt and impulse buying, while also strengthening my discipline and sense of responsibility. Most importantly, budgeting gives me control over my finances and moves me closer to my goals. Maria’s story showed me that even small, steady savings can lead to meaningful accomplishments over time.
Elizabeth Adzakrah ,Ghana
ReplyDeleteCohort5 batch C
Group L
Budgeting is essential in our lives because it serve as map in our financial journey .
This module thought me that no Matter the amount of money you earn,without Budgeting your money will get wasted in unnecessary spending. Budgeting helps to track your daily expenses and in the end helps control wasteful habits.
The lesson talked about the various tools we can use to track our expenses, the 50,30,20 rule.It also talked about various ways we can teach students and friends around us about Budgeting
Full name: Jackson J.W Johnson
ReplyDeleteCountry: Republic of Liberia
Cohort 5 (Batch C)
In this module, I learned that budgeting is a powerful tool for financial freedom, it is not a restriction. It showed that effective budgeting requires tracking expenses, using practical tools like notebooks, envelope systems, apps, and simple habits such as keeping receipts and reviewing finances weekly. I also learned that young people face common challenges like low income, peer pressure, and impulse spending, but these can be managed with discipline and the right strategies. The case studies of Maria and Daniel showed how budgeting leads to progress while lack of budgeting leads to debt and stress. I understand that learning or teaching budgeting to students through games, role plays, and pocket money examples can empower them early and build a generation of financially responsible youth. Overall, I learned that budgeting builds discipline, responsibility, and long-term success.
Key takeaway:
Budgeting is the bridge between dreams and reality. When young people learn to plan, track, and manage money wisely, they gain freedom, avoid financial stress, and inspire others to do the same.
Name: yamikani chaona
ReplyDeleteCountry: Malawi
Cohort 5 batch C
Actually budgeting as a topic itself has taught me on how important it is in our business planning and daily lives,it distinguishes between the wants and needs.
Budgeting helps in tracking the expense rate and how you can manage it to suit with the income rate.
Mary Nasieku
ReplyDeleteCohort Batch C
Group c
Kenya
In this module, I learned that budgeting is simply a plan for how I use my money so that it does not disappear without purpose. It helps me stay organized, take control of my finances, and move closer to my goals. I now understand that budgeting begins with knowing exactly how much I earn and what I spend on. From there, I can apply a simple guide such as the 50 30 20 rule, where I allocate half of my income to needs, a portion to wants, and the rest to savings.
I discovered that tracking my spending, whether through apps or a simple notebook, makes it easier to remain disciplined and aware of my habits. I also learned that challenges such as peer pressure, low income, and inconsistent spending can make budgeting difficult, but with commitment and discipline, it is still possible to stay on track.
This module taught me why budgeting is especially important for young people. It gives me control over my money instead of allowing money to control me. It also helps me prepare for emergencies and unexpected situations. I learned the steps of budgeting clearly: knowing my income, listing my expenses, setting priorities, allocating money according to a chosen formula, writing everything down, and reviewing and adjusting regularly.
I also gained insight into practical tools that make daily financial management easier, such as basic banking tools and simple tracking methods. I learned that budgeting can even be taught to students using real life examples like how they spend their pocket money.
Overall, I now see that budgeting provides freedom, stability, and confidence. It turns dreams into achievable plans and helps me build a stronger financial future.
Name: Victoria Penembe
ReplyDeleteCountry: Malawi
Cohort: 5 Batch C
This topic is a very important one to every individual. It is crucial to always have a budget to avoid overspending as a result, one can not grow financially as it will likely be a trend to loan out from others. Tracking ones expenses will enable a good follow up. I would also like to add that budgeting helps ones life to be in shape. Makes one to realize the purpose of what they are spending on what they are buying and also gives them a picture of what kind of life they are to live within their income range.
My name is Jackson mbazima and I am part of the KAFI financial literacy program Cohort 5, batch C. Budgeting is a plan of how you are going to spend your money, it helps you keep track of your expenses. Budgeting is important because it gives you control over your finances, helps you avoid debt, prepares you for emergencies, and fosters discipline. Budgeting is not just about how you are going to spend your money but also about how you are going to save and invest some of that money, to achieve this you need to use methods such as the 50/30/20 percent rule, which means, you use 50% of your income on needs, 30% on wants, and 20% on saving and investments, and you can also use other budgeting and money tracking tools or Apps. However this requires descipline and commitment because there are a lot of challenges you need to overcome, challenges such as low income, impulse buying and peer pressure etc. In conclusion, budgeting is an essential skill that gives you control over your money and life, it gives you self-discipline and will lead you out of debt and poverty.
ReplyDeleteNAME: BAILACK JOICELINE JINDUI
ReplyDeleteCOUNTRY: CAMEROON
COHORT 5 BATCH C
COMMENT: From these courses, Budgeting and money management, I have acknowledged that money transcends in every aspect of our lives, be it daily living, business wise , family wise and others.
LESSON: Budgeting is a clear pathway to success; when you run away from budgeting, you follow the wrong track.
Budgeting involves tracking what comes in and what goes out in our daily life context. It helps you eliminate wasteful use of resources, it gives you a clear guideline. Creating a personal budget is necessary for growth and it starts by identifying what comes in like salary, side hustles, dividends Njangi in the context of Cameroon. also identifying what or where your money is being used like food, cars, luxurious jewelries( needs and wants). Prioritizing them into urgent and important( go for it immediately), Not urgent but important ( do a planning on when to get it) . Use the 50/30/20 rule that needs, wants , savings respectively. track this on a spreadsheet like Excel, Google sheets
Budgeting helps you reach your financial goals even with limited funds
Tadiwanshe Murefu
ReplyDeleteBatch k
Zimbabwe
Budgeting is way of saving money. A person must spend his or her money responsibly by assessing and analysing how their money. Budgeting brings forth financial security independence saving one from unnecessary expense and debts.
Mohamed Shueib muse
ReplyDeleteSomalia
Budgeting is a powerful life skill that helps young people take control of their money instead of losing it to unplanned spending. By understanding income, separating needs from wants, and using simple tools like the 50/30/20 rule, anyone can create a personal budget that supports their goals. Tracking expenses shows where money really goes and helps build discipline, responsibility, and long-term stability. With mobile banking, budgeting apps, and good habits, managing daily finances becomes easier. Teaching these skills to students empowers them to save, plan, and avoid debt, turning budgeting into a pathway toward opportunity and success
-Rafael Machira
ReplyDelete-Malawi
-Cohort 5 (Batch B)
Through budgeting and money management, I have learnt crucial lifelong skills that build a foundation for financial well-being, responsibility, and independence. It helps us youth understand the value of money, avoid debt, and achieve their goals.
Patrick Musa Tucker
ReplyDeleteSierra Leone
In my thought Budgeting is an essential life skill that provides a plan for spending and saving money, giving young people control over their finances, helping them achieve goals, and building discipline for future success.
Full Name: Eddes Symon
ReplyDeleteCountry: Malawi
Cohort Batch: C
Group J
A brief summary from this module, I have learned that a budget is a simple plan for your money, like a map for your financial journey. It helps you decide how to spend and save your money each month. For young people, budgeting is crucial because it Gives you control over your money, instead of letting it control you.
· Helps you prepare for emergencies and achieve big dreams (like education or travel).
· Builds discipline, a key skill for leadership and entrepreneurship. You have to create
. Know Your Income: List all money you receive (salary, allowances, side hustles, etc.).
. List Your Expenses: Separate them into Needs (essentials like rent, food, transport) and Wants (non-essentials like eating out, entertainment).
. Set Your Priorities: Before spending, ask: Is this necessary? Can I delay it? Does it help my goals?
. Allocate Your Money: A simple method is the 50/30/20 Rule:
· 50% for Needs
· 30% for Wants
· 20% for Savings & Investments
. Put It in Writing: Write your budget in a notebook, spreadsheet, or a budgeting app.
. Review and Adjust: Check your budget monthly and change it as your life changTrack your money
a budget only works if you track your spending and income hence tracking helps Ii showing you where your money really goes and helps you spot wasteful habits.
· How to track: You can record it manually in a notebook, use a spreadsheet, or use a budgeting app on your phone.
4 As an individual you need to have good habits and practice for example
· Banking Use online and mobile banking.
· Budgeting Apps: Try apps like Mint, YNAB, or Goodbudget.
· Savings: Use mobile money wallets or investment apps. Try fun savings challenges.
· Simple Habits: Keep receipts, review your spending weekly, and automate your savings. Another thing is how to overcome common myths and challenges,
· Low Income: Try to build multiple income streams.
· Peer Pressure: Learn to say "no" to unnecessary spending.
· Impulse Spending: Use the 24-hour rule—wait a day before buying.
· Lack of Consistency: Set reminders or use apps to stay on track. I have also learned some of the real life lessons as follows
· Maria's Success: A student saved $30 a month by cutting snack spending and bought a laptop in 6 months.
· Daniel's Struggle: He earned money but never budgeted, leading to debt when he had to borrow for emergency. Budgeting is Freedom, is not a restriction; it is a tool for freedom. It frees you from money stress, living paycheck-to-paycheck, and financial regrets. It is the bridge between your dreams and reality, helping you build wealth, avoid debt, and contribute to your community.
Makam Josephine
ReplyDeleteNigeria
Lessons on budgeting:
It helps one to control money, reduce stress and achieve goals ie how you spend/save money.
2. Budgeting works more when you track your income and expenses in order to avoid wasteful habits and know where your money goes to
3. Using certain rules helps for eg the 24hours rules for impulse spending, the 50/30/20 rule, building multiple streams of income and saying No when necessary
4. Budgeting involves planning, being disciplined and responsible not just about money only.
Angela Mpala
ReplyDeleteZimbabwe
Cohort 5 Batch C
Short summary: Budgeting is the essential skill of planning how to spend and save money over a period, acting as a financial map that grants control and turns big dreams into achievable steps. The core process involves determining your total income, categorizing expenses into Needs (50%) and Wants (30%), and strictly allocating at least 20% to Savings and Investments (the 50/30/20 Rule), which must then be diligently tracked using tools like apps or spreadsheets to ensure the plan aligns with reality, ultimately building the discipline needed to avoid debt, overcome impulse spending, and secure a stable financial future.
Budgeting helps to have control over your money
ReplyDeleteIt also enables us to build discipline into leadership and entrepreneurship
You have to make sure you take note of your incomes so that it’s will easy for you to priorities what to spend money on
Always track your expenses to buy things without budgeting.
Because it will you to track your money
Joseph Mwansa
ReplyDeleteZambia
Group J
Batch C
Budgeting helps to have control over your money
It also enables us to build discipline into leadership and entrepreneurship
You have to make sure you take note of your incomes so that it’s will easy for you to priorities what to spend money on
Always track your expenses to buy things without budgeting.
Because it will you to track your money
Budgeting helps to have control over your money
ReplyDeleteIt also enables us to build discipline into leadership and entrepreneurship
You have to make sure you take note of your incomes so that it’s will easy for you to priorities what to spend money on
Always track your expenses to buy things without budgeting.
Because it will you to track your money
Name: Joseph Freeman
ReplyDeleteCountry: Sierra Leone 🇸🇱
Cohort: 6
Group: O
Batch: D
Summary of Assessment:
Budgeting: Taking Control of Your Finances
I've learned that budgeting is a powerful tool for managing my finances and achieving my goals. A budget is simply a plan for how I will spend and save my money over a period of time, usually a month. It's like a map that guides my financial journey.
Key Takeaways:
- Budgeting gives you control: It helps me prioritize my spending, save for emergencies, and achieve my long-term goals.
- The 50/30/20 Rule: Allocate 50% of my income towards needs, 30% towards wants, and 20% towards savings and investments.
- Tracking expenses is key: It helps me identify where my money is going and make adjustments as needed.
- Practical tools are available: Banking tools, budgeting apps, and savings platforms can help me manage my daily finances.
Steps to Creating a Personal Budget:
1. Know my income
2. List my expenses
3. Set my priorities
4. Allocate my money using the 50/30/20 rule
5. Put it in writing
6. Review and adjust regularly
Common Budgeting Challenges:
- Low income: build multiple streams
- Peer pressure: learn to say no
- Impulse spending: use the 24-hour rule
- Lack of consistency: use reminders and apps
Teaching Budgeting to Others:
- Use relatable examples
- Show how small savings add up
- Create fun savings challenges
- Encourage discussions on needs vs wants
By mastering budgeting and money management, I can achieve financial freedom, build wealth, and inspire others to do the same
Full Name: Oakantse Polite Leeme
ReplyDelete- Country: Botswana
- Cohort: 5
- Batch D
- Short Summary: ( I learnt that budgeting is important because it helps us reduce overspending especially for
This comment has been removed by the author.
ReplyDeleteFull Name: Oakantse Polite Leeme
ReplyDelete- Country:Botswana
- Cohort: 5
- Batch : D
- Short Summary: (I learnt that budgeting is important because it helps us to reduce overspending especially for students and that for easy management we nned to use the 50/30/20 rule ensuring that the wants and savings do not exceed the needs)
NAME: PRECIOUS CRISPIN KAMOWA
ReplyDeleteCORHOT: 5
GROUP: P
BATCH: D
MY REFLECTION
Through the budgeting and money management module, I have gained valuable insights into effective financial planning and responsible spending. I learned to create and maintain a budget, which helps track income and expenses, ensuring I live within my means. The importance of setting financial goals and prioritizing needs over wants became clear.
Additionally, I discovered various financial tools and resources that can aid in making informed decisions. Understanding debt management and saving techniques also empowered me to build a secure financial future.
Overall, this module has equipped me with essential skills for achieving financial stability and independence.
Full name:
ReplyDeleteMiller Mshanga
- Country:
Zambia
- Cohort:
5
- Batch:
D
- Summary of what you have learnt:
I have learnt that budgeting means making a plan for how to use my money. A budget helps me control my money instead of letting money control me. Without a plan, money finishes fast, and I may not know where it went.
I learnt that budgeting is important because it helps me save, avoid stress, prepare for emergencies, and reach my goals like school, business, or travel. I also learnt the steps of making a budget: know my income, list my expenses, separate needs from wants, set priorities, and use the 50/30/20 rule to guide my spending. Writing the budget down and checking it every month makes it stronger.
I learnt that tracking my spending is very important because it shows how I truly use my money. I can track using a notebook, envelopes, spreadsheets, or budgeting apps. Simple tools like mobile money, bank apps, and saving automatically can help me manage my money better.
I also learnt that young people face challenges like low income, peer pressure, buying things without thinking, and not being consistent. But we can overcome these challenges by planning well, saying “no” when necessary, and building good habits.
I learnt that we can teach budgeting to students by using examples from pocket money, showing them how small savings grow, and using games and simple activities.
The stories showed me that budgeting helps people reach their goals, like Maria who saved money and bought a laptop. But without budgeting, like Daniel, it is easy to get into debt.
Overall, I learnt that budgeting gives freedom. It helps me avoid money problems, build a better future, become responsible, and also teach others how to manage their money.
Name: Davison Ngulube
ReplyDeleteCountry: Zambia
Cohort:5
Batch:0
Summary of what you have learnt:
This module is very interesting and useful because it clearly explains how budgeting works and why young people need it. I have learnt the importance of tracking income and expenses and using tools like budgeting apps, banking apps, and savings platforms to manage money better. The lessons on needs vs wants were especially helpful—I used to struggle with budgeting because I often chose wants over needs, which made it hard to save.
I now understand practical habits like keeping receipts, reviewing my budget weekly, and automating savings. Overall, budgeting builds discipline, prevents debt, and supports long-term financial stability.
Kunda Ngosa
ReplyDeleteZambia
Cohort 5( Group P)
Batch D
Lesson: Budgeting builds Wealth. Budgeting leaves breadcrumb trails of your finances. Money should follow a plan not impulses. Emotional spending leads to regret; intentional spending builds stability. Separate your needs from Wants. Live below your means. Be accountable for your finances.
Maureen Banda
ReplyDeleteZambia
Cohort 5
In this module i have learnt the rule of budgeting which is 50/30/20. This rule is 50% has to go to needs, 30% wants and 20% investment. Budgeting helps us plan for emergencies so that we are not going to end up in debt during tines of emergencies. It is also important to not be lend into peer pressure and we should learn to say no.
Emilly Atieno Oyatta
ReplyDeleteKenya
Cohort 5
Batch D
Budgeting is the foundation of effective money management and a key skill for young people who wish to acquire control over their finances, achieve goals, and avoid unneeded stress. In order to stop money from "disappearing," it entails developing a clear plan for how income will be saved and spent. By understanding sources of income, listing spending, determining goals, and using simple formulas like the 50/30/20 rule, young people can acquire financial discipline. Whether using spreadsheets, notebooks, or budgeting apps, keeping track of expenditures guarantees that the budget is in line with reality and aids in identifying wasteful practices. Managing everyday finances is made simpler and more effective by useful technologies like automated transfers, savings platforms, and mobile banking apps.
Budgeting also comes with challenges, such as low income, peer pressure, or impulse buying, but they can be overcome with thoughtful practices and persistence. Young leaders can improve financial literacy in schools by teaching budgeting to children through relatable examples, games, and savings challenges. Real-life tales, like Maria saving for a laptop and Daniel dealing with debt due to lack of planning, highlight the profound impact budgeting can have. Ultimately, budgeting is more than managing money—it fosters discipline, responsibility, and long-term stability, helping young people build wealth, avoid debt traps, and positively influence their communities.
Richard Bida
ReplyDeleteUganda
Cohort 5 (batch D)
Group Q
I learned about why budgeting matters for young people;
You gain control over your money instead of letting money control you.
It helps you prepare for emergencies and unexpected expenses.
It makes big dreams (education, business, travel, home ownership) possible by breaking them into smaller, achievable steps.
Budgeting builds discipline, a skill that transfers into leadership and entrepreneurship.
Francis Dennis Maudzu
ReplyDeleteMalawi
Cohort 5
Batch D
Budgeting is a bridge between reality and dreams. If you know how to budget and it's importance, you can never be poor for you will be utilising your finance so wisely for example, by using the 50/30/20% strategy you can easily achieve your goals
Natasha mukupa
ReplyDeleteZambia
Cohort 5
Batch P
I have learnt that Budgeting helps one take control over the money by spend it wisely on important things and this can be done by setting priorities which are necessary for survival and growth, spend money on what is going to help you achieve your goals through writing down your budget and stick to it without fail will help you prepare for unexpected expenses and build discipline.
Thandiwe Mtonga
ReplyDeleteZambia
Cohort 5
Batch D
Group R.
I have learnt that budgeting is the bridge between my dreams and reality and minus it, my money will disappear without a trace.
With tracking expenses being a vital factor to help me know how my money is workings and what I could have avoided.
Also that I need to prioritize my needs , spend within my means while focusing on my long term goals working hand in hand with 50/30/20 rule.
Gabriel Vitumbiko Nyondo
ReplyDeleteMalawi
Cohort 5
Batch D
I've learned that tracking spending is key to understanding where money goes and identifying wasteful habits. There are various ways to track spending, including manual recording, envelope systems, and budgeting apps like Mint and YNAB.
To manage daily finances, banking tools and budgeting apps can be super helpful. Mobile money wallets and investment apps are also great for savings and investments.
Young people face challenges like low income and peer pressure, but building multiple streams of income and learning to say no can help. The 24-hour rule and setting reminders can also curb impulse spending.
I have also learnt that, when teaching budgeting to students, using relatable examples and making it fun can be effective. Budgeting builds planning, discipline, and responsibility, leading to wealth and financial freedom.
The challenge is to create a monthly budget with the 50/30/20 rule, track expenses for 7 days, and teach someone else how to budget. By doing so, you'll be taking control of your finances and setting yourself up for a brighter financial future.
Name: Milcah Gaman
ReplyDeleteCountry: Nigeria
I learned that budgeting is a big deal when it comes to managing your finances because it allows you plan cahead of time and ensures you use your money wisely. It enables you to prioritize your needs, then your wants and some savings.
I'm OLERILE PHILLIP
ReplyDeletefrom BOTSWANA
COHORT 5 BATCH D group Q
I learnt that budgeting is a simple but powerful tool that helps me control money instead of losing it to unnecessary spending. A budget acts like a map, showing where my money should go, based on priorities. I learnt how to separate needs from wants using the 50/30/20 rule and tracking all expenses to stay disciplined. Budgeting can help reduce stress, prevent debt, and help turn long-term goals into achievable steps through habits like planning, consistency and responsibility that can be build by using budgeting apps and giving myself savings challenges.
Brian Mateli
ReplyDeleteKenya
Cohort 5 Batch D Group N
In budgeting and money management I have learnt that with this skills you have control of your finances, less stress and you are likely to achieve your goals. However, I got to understand creating a budgeting is just one thing but sticking to it is another that's where discipline and frequent audits are very key to keep you on toes.
Again, budgeting is like a map which shows you where you are and where you want to go. It's very important for someone to know their income, list expenses and priorities, allocate money especially using a 50/30/20 rule, document somewhere and then review it often for any necessary adjustments.
Brian Mateli
ReplyDeleteKenya
Cohort 5 Batch D Group N
In budgeting and money management I have learnt that with this skills you have control of your finances, less stress and you are likely to achieve your goals. However, I got to understand creating a budgeting is just one thing but sticking to it is another that's where discipline and frequent audits are very key to keep you on toes.
Again, budgeting is like a map which shows you where you are and where you want to go. It's very important for someone to know their income, list expenses and priorities, allocate money especially using a 50/30/20 rule, document somewhere and then review it often for any necessary adjustments.
Austin Munthali
ReplyDeleteCohort 5
Group N
Malawi
Budgeting is simply about taking control of your money so it doesn’t end up controlling you. It helps young people stay organised, avoid financial stress, and move closer to their goals one step at a time. When you understand your income, list your expenses, and apply the 50/30/20 rule, you create a clear path for your money. Tracking what you spend each day also helps you notice habits that drain your cash without adding value. Yes, challenges like peer pressure or a low income exist, but small adjustments and consistency go a long way. Maria’s story shows how small, steady savings can create big wins, while Daniel’s experience teaches how lack of planning can trap you in debt. At its core, budgeting is a tool of freedom; it gives you peace, direction, and the power to turn your dreams into something real.
Faith Abigael
ReplyDeleteKenya
Batch 5 (Group P)
Through budgeting i am able to have control over my money than letting money control me. I need to know my income so as to be able to budget my money. I will adapt the 50/30/20/ rule for my budgeting this will really help me alot in tracking my expenses.
Name: Daniel Deng Aruop Deng
ReplyDeleteCountry: South Sudan 🇸🇸
KAFI HUB: Cohort 5
Batch D (group O)
Summary for Budgeting Money Management:
Budgeting is art and science of knowing how to spend and save money within your income. Budgeting is driving force of financial stability because it is the one that tells where money goes and how the money is kept.
Benefits of budgeting
As I have read above, budgeting help young people to:
1. Have full control over money.
2. Build leadership and entrepreneurship skills.
3. Achieve dreams e g being graduated from university.
Concepts I have learnt to keep in mind whenever I am budgeting I should do budget based on;
1. My income
2. My listed expenses
3. Set priorities
4. Money allocation such as 50/30/20 master plan.
To achieve my budgeting master plan, I must document everything and review every week or month. This can help me to adjust in case there is mismanagement. Hence, I can easily tract my financing.
Tools I should use for managing daily financing:
1. Banking tools e.g mobile app, Debt or credit cards.
2. Mint apps, YNAB or Google budget
Investment
For easy saving and investment, I should use PayPal or mobile money available in my country. Although there are minimal existing challenges facing youth, building multiple streams, avoid bad peer group and reduce spending in 24 hours for a week can easily lift me to strongly face challenges without obstacles.
In conclusion, budgeting and management of money are routes to financial stability. Do not over spend food and eat like there is no next day. Pay for your need s and wants responsibly. Therefore, budgeting closes the gap between dreams and reality.
Benson Ndeda
ReplyDeleteKenya
Cohort 5 (group N)
Batch :D
Summary:
I this lesson I have learnt about budgeting as a financial practice of planning how to spend and invest money that we earn over a given period of time.
Some advantages of effective budgeting include:
1. Budgeting helps us remain prepared for the unpredictable financial emergencies such as hospital bills.
2. Budgeting enables us to develop a culture that lets us in control of money but not money controlling us.
3. Through budgeting we can easily achieve the life's big goals such as owning a home and gaining education.
I have also learned that creating a budget can be a rigorous process that therefore requires a careful step-by-step approach. The process of creating a budget can be simplified as follows:
1 Knowing your income-being able to determine all the sources of your income
2 Listing your expenses by determining your needs, wants and savings.
3 Setting priorities: determining what want or need should be solved urgently and which may wait.
4 Allocating money using the 50%\30%\20% rule where 50% of your income goes to needs, 30% to wants and 20% to savings and investments.
5 Putting the budget into writing for future reference
6. Making Adjustments and Revising of the budget to keep it updated.
I have also learned about the common budgeting challenges that Young people face and their solutions as follows:
Budgeting challenges and solutions
1 Low income: building multiple streams of income
2 Peer pressure: Learning to say no
3 Impulse spending: living within means
4 Lack of consistency: sticking to budget
Brima Kargbo
ReplyDeleteSierra Leone 🇸🇱
Cohort - 5
Batch - D
Group - N
From the KAFI Foundation's module on budgeting and money management, I've learned that creating a budget is essential for taking full control of my finances. A budget is like a map or GPS that guides by journey. Without a map or GPS it's impossible to embark on a journey to unfamiliar area/location.
Without proper budgeting, your money get lost on unnecessary spending.
I also learned about the 50/30/20 Rules.
50% for Needs
30% for Wants
20% for Savings & Investments.
I'm so passionate about this rules and I plan to implement it in my financial management immediately.
Overall, this module is highly educating, inspiring and multivating.
Brian Ouya Bosire from Kenya, Cohort 5 batch D, Group Q, I have learnt that budget as a toll to monitor financial performance is not solely on that but also a guide towards responsibility, discipline and building financial character .
ReplyDeleteHosannah Chavula
ReplyDeleteMalawi
Cohort 5, Group P
Batch D.
Summary of Assessment on Budgeting and Money Management.
In this module, I have understood that when one you're planning on how you'll spend and save money over a period of time then you're budgeting. Budgeting is like GPS or a map, without it you get lost and without budgeting your money gets lost because of unnecessary spending.
I have also gained knowledge on how to create a personal budget and using a rule of 50/30/20,onecan allocate money in terms of needs, wants, savings and investments.
It is also essential that I track my spending to ensure that my budgets matches with reality.
With this knowledge, I will be able to teach students or peers to budget.
Hosannah Chavula
ReplyDeleteMalawi
Cohort 5, Group P
Batch D.
Summary of Assessment on Budgeting and Money Management.
In this module, I have understood that when one you're planning on how you'll spend and save money over a period of time then you're budgeting. Budgeting is like GPS or a map, without it you get lost and without budgeting your money gets lost because of unnecessary spending.
I have also gained knowledge on how to create a personal budget and using a rule of 50/30/20,onecan allocate money in terms of needs, wants, savings and investments.
It is also essential that I track my spending to ensure that my budgets matches with reality.
With this knowledge, I will be able to teach students or peers to budget.
Felix Omondi
ReplyDeleteKenya
Cohort 5
Batch O
Summary of what I have learnt:
This lesson helped me understand that budgeting is simply creating a plan for how my money should be spent and saved. I learnt the importance of tracking both income and expenses so that my money doesn’t just “disappear.” The 50/30/20 rule stood out as a simple budgeting guide, and I now see how separating needs from wants can make a big difference. I also learnt about using tools like mobile banking, budgeting apps, and weekly reviews to stay disciplined. Overall, budgeting is not about restriction it is about gaining control, planning for goals, and becoming more responsible with money.
Eberechukwu Nnenna Ogbuewu
ReplyDeleteNigeria
Lesoson: I learnt budgeting, the importances of it and steps to creating personal budget.
One key point that stand out for me is how tracking of your money can help review where your money goes.
Some of the steps to budgeting learnt are:
Know your income.
List your expenses
Set your priorities
Allocate money using formula.
Name: Kalinda lsaac
ReplyDeleteCountry: Zambia
Cohort: 5
Batch: P
SUMMARY:
Budgeting and Money and money management discipline that calls for an individual awakening in taking charge of money use, tracking, and control that the effect of productivity may be seen. This is highlited through one being able to pay attention to his daily income and expenses, in order that planning may occur which calls for knowing what really matters the most (needs or wants). Challenges accompanying budgeting like low income, peer pressure, unreasonable spending (impulse) are all the target for the whole aspect budgeting and Money management. Concludingly, we are freed through this art of discipline from the real stress of finances.
Rahila Kwakwai Jimmy
DeleteNigeria
Cohort-5
Batch-P
Short summary- I learned that Budgeting helps one to prepare for emergency and spend money the right way. I also understand budgeting helps one differentiate needs and wants, also no small spending should be underestimated, everything should be recorded in the notebook or budget App.
Joseph Antony
ReplyDeleteZimbabwe
Cohort-5
BATCH P
SHORT SUMMARY- Budgeting is an essential way of tracking and handling finances. There are many ways to.budget like having a savings account with a bank. Mobile money and piggy banks.
The skill of good budgeting includes good planning and having a means of keeping track of finances and expenditure like notebook and receipts.
Fifen Yayee Mefira
ReplyDeleteCameroon
Cohort 5
I have learned in this module that budgeting is the act of planning your money for proper management.
To budget, you need to evaluate your income, set goals. You need to know what your needs and wants are. The main purpose of budgeting is to avoid money shortage and stress which can push you into debt traps. Therefore, depending on individual situation, an idéal budgeting ratio is 50/30/20 correspond to needs,wants and saying respectively.
The success of budgeting is the factors of discipline and consistency. Therefore the budgeting must ne in constant review to always reflect the reality.
As a tool that permits for proper money management it helps wealth to increase and terminate poverty.
I also learned that teaching it in schools requires fun tactics and storytelling.
Frankline Gor
ReplyDeleteKenya
Cohort 6 (Batch A)
Budgeting and money management are important tools of controlling our money we earn through salary or any other work. Budgeting is a away we keep ourselves disciplined and responsible. By managing our finances we control it rather than the money controlling us. Budgeting for any amount should be in the ratio of 50/30/20
for needs, wants and saving respectively .
- Full Name: Tendaishe Mangena
ReplyDelete- Country: Zimbabwe
- Cohort: 6 Batch A
- Short Summary: Budgeting and Money Management
I've learned that budgeting is a crucial skill for managing finances effectively. A budget is a plan that helps me track my income and expenses, prioritize needs over wants, and achieve my financial goals. The 50/30/20 rule is a useful guideline, allocating 50% of my income towards needs, 30% towards wants, and 20% towards savings and investments.
Key takeaways from the lesson include:
- Budgeting helps me gain control over my finances, prepare for emergencies, and build discipline.
- Creating a budget involves identifying my income, listing expenses, setting priorities, and allocating money accordingly.
- Tracking expenses is essential to ensure I'm sticking to my budget and making adjustments as needed.
- Practical tools like banking apps, budgeting software, and savings challenges can help me manage my finances effectively.
I've also learned about common budgeting challenges, such as low income, peer pressure, and impulse spending, and strategies to overcome them. By adopting good budgeting habits, I can achieve financial freedom, reduce stress, and make progress towards my long-term goals.
Overall, this lesson has taught me the importance of budgeting and money management in achieving financial stability and success.
Name : Mercy Kasaya
ReplyDeleteCountry : Kenya 🇰🇪
Cohort: 6 Batch A
This module focused on understanding how to plan, control, and track personal finances. I learned that budgeting is the process of creating a clear plan for how to use my money so that my needs, goals, and responsibilities are well balanced. The module emphasized the importance of identifying income sources, separating needs from wants, and allocating money wisely using tools like the 50-30-20 rule or a personal spending plan. It also covered practical money management skills such as saving consistently, avoiding unnecessary debt, keeping financial records, and building good financial habits. Overall, the module showed me that effective budgeting leads to better decision-making, reduces financial stress, and helps me work steadily toward both short-term and long-term financial goals.
Name: Doreen Kajuju
ReplyDeleteCountry: Kenya
Cohort: 6
Batch: A
Through this module, I have discovered that budgeting is more than listing money in and money out it is a leadership skill that shapes discipline, decision-making, and long-term vision. I learned that a budget acts like a financial compass, helping me direct every coin toward purpose instead of pressure. Understanding the difference between needs and wants has empowered me to make intentional choices, while the 50/30/20 rule showed me how to convert income into structured goals.
I also learned that tracking expenses is the truth meter of financial behaviour it exposes habits, strengthens accountability, and prevents financial “leakage.” The digital tools introduced (mobile money, budgeting apps, online banking) revealed that smart money management is now a daily practice, not a monthly event.
Most importantly, this module taught me that budgeting is a transformational tool I can pass on to young mothers, youth, and students helping them build stability, break dependency cycles, and turn small daily decisions into long-term success. Budgeting is not about restriction; it is about freedom, focus, and building a future I can be proud of.
Full Name: Claytos Chimoto
ReplyDeleteCountry: Zimbabwe
Cohort: 6
Batch: A
Money is an essential life support resource. Predetermining the way money is going to be used is vital to utilize money and derive the best possible results from available revenue. Knowing the income and expenditure trends is important as consumption would be mostly done on primary needs before secondary ones so that the economic problems are addressed. It is prudent for me to track my expenses and try to control them so that they remain within the available revenue means and ways. I aught to develop a strategic spending checklist and look for ways to increase my financial streams at the same time reducing spendings to have meaningful savings at the end of a determined intervals. Budgeting and money management connect perceptions and reality which teaches financial discipline, literacy and have capacity to sustainably invest in enterprises that bring pipeline cashflow regimes. Budgeting is the foundation of financial leadership and entrepreneurship which makes me able to achieve my dreams and fulfil all necessary life obligations.
- Full Name: Sebabatso Makhetha
ReplyDelete- Country: South Africa
- Cohort: 6 (Batch B)
- Short Summary:
What I learned in this module is the importance of budgeting especially for us young people. I learned that budgeting matters because it helps us prepare for emergencies and allows us to have better control of our finances and it also how to build discipline. It taught me the key steps in creating a personal budget and understanding how to separate my needs from wants using the 50/30/20 rule and why it is important to review my budget regularly. It also provided guidance on the impact of good and bad management and what role this plays in financial freedom and future stability.
Name: Sheril Achieng Olal
ReplyDeleteCountry: Kenya
Cohort: 6
Batch: B
Group: H
From this module, I learned how to take full control of my finances and use money intentionally to support my goals and daily needs. It teaches me what budgeting truly means and why it is important for my personal growth, showing me how a clear plan can help me avoid wasteful spending, prepare for emergencies, and slowly work toward my dreams. I learn how to identify all my income sources, separate my needs from my wants, set priorities that match my goals, and apply the 50/30/20 rule to guide my monthly planning. The module also helps me understand how to track my expenses consistently, use digital tools and apps to manage money more easily, and build simple but powerful financial habits like reviewing my budget weekly and automating my savings. Most importantly, it equips me with the confidence and knowledge to teach others especially students how to budget using relatable examples and practical activities. Through the real life stories, I see the benefits of budgeting and the risks of not planning. Overall, this module strengthens my discipline, decision-making, and leadership, empowering me to manage my money wisely and support others in building financial stability.
Full Name: Teddy Sikakena
ReplyDelete- Country: Zambia
- Cohort: 6
- Batch: A
Budgeting is a real strategy, it gives you control over your life and helps you cut down on excesses. The 50/30/20 rule is a practical step and formula that can help young people by prioritizing needs over wants and as well engaging in savings and investment. Furthermore, tracking tools like budgeting apps, banking tools or a simple record book can exposes the loop holes in spending habits, it reveals our spending habit and where our funds go to which can revolutionize or improve our budgeting style. Overall, budgeting is a map that helps us navigate and manage our money whether salary, wages or free gifts.
The 50/30/20 rule is important in financing because it provides a simple structure for managing money.
It divides income into 50% for needs, 30% for wants, and 20% for savings or debt repayment.
This balance prevents overspending on lifestyle while neglecting essentials or savings.
It helps people prioritize important bills like rent, food, and healthcare.
At the same time, it allows room for enjoyment through hobbies and entertainment.
By committing 20% to savings, it builds long-term financial security and an emergency cushion.
It also encourages extra debt repayment, which reduces financial stress over time.
The rule is easy to follow, even for people who struggle with complex budgets.
It supports both short-term comfort and long-term financial goals.
Overall, the 50/30/20 rule promotes discipline, balance, and peace of mind in personal finance.
NAME: MARIE ELLEN COLLEY
ReplyDeleteCOUNTRY: THE GAMBIA
COHORT 6: (BATCH A)
SHORT SUMMARY OF BUDGETING AND MONEY MANAGEMENT.
Without a plan foy our money it often dissappears before we realise it. Budgeting is a plan on how we spend and save our money over a period of time. We need Budgeting to get control of our money, for emergency purposes, to discipline ourselves and prepare for big dream like education. Creating a budget maybe easy but sticking to it requires a lot of discipline.
Name: Ermelinda Sandra Meque Massango
ReplyDeleteCountry: Mozambique 🇲🇿
Cohort: 6
Batch: A
This chapter on budgeting and financial management stirred up some emotions for me because most of the Mozambican population survives on less than $100 a month, and here in my community the situation is even more critical. How can you talk about budgeting and saving money when you lack even the essentials? But I realized there's the option of seeking multiple income streams, and that's the topic I'll be exploring in more depth.
Full Name:
ReplyDeleteSunday Chanda
Country:
Zambia
Summary of What I Have Learnt:
From this module, I have learnt that budgeting is an essential life skill that helps me take full control of my finances. A budget acts as a financial map that guides how I use my income and ensures that my money is directed towards the right priorities. I now understand the importance of separating needs from wants, setting financial priorities, and using practical tools such as mobile banking, budgeting apps, and tracking methods to manage my daily expenses.
I also learnt how to apply the 50/30/20 rule to allocate income effectively, and the value of consistently reviewing and adjusting my budget each month. The case studies showed me that even with a small income, discipline and proper planning can help achieve important goals. Above all, budgeting builds discipline, leadership, and long-term financial stability.
Name: Lizzy Zizila
ReplyDeleteCountry: Zambia
Cohort: 5, Batch: A
I have learnt about the 50/30/20 rule, where the 50% goes to needs, 30% to wants and 20% to savings. Budgeting matters as it helps young people to gain control of their money, prepare for emergencies and builds discipline. I have also learnt that it is important to track expenses and income.
Name: fatuma juma
ReplyDeleteCountry:kenya
cohort 6 batch B
From this module i've learnt a lot about budgeting. Budgeting is to plan on how to save and spend your money effectively. By budgeting we avoid emergency that can be controlled, we gain control over our money, it helps in building dreams .
For you to budget well, you need to study your income, make a list of your expenses, allocate money in 50/30/20(where this is needs, wants and savings consecutively),review and adjust.
You can also track your expenses by using various ways like
- envelope systems
- budgeting apps
- Google sheets
For example if i earn $500 per month i will use $250 for my needs, $75 for wants and $50 for savings
Name: Tanatswa Mandizha
ReplyDeleteCountry: Zimbabwe
Summary: Budgeting is a plan for how to spend and save money. The module explains that budgeting is important as it allows control, helps one prepare for emergencies and also builds discipline. The KAFI module about budgeting covered steps to create a personal budget to help us manage money. It also talks about tracking what one spends and what one makes. The module uncovers that tracking these is important because it makes one aware of their habits. The tools used for managing finances include banking tools which involves cards and banking apps, budgeting app like mint, saving and investment platforms like money wallets and simple habits loke keeping receipts. Young people face different challenges like impulse spending, peer pressure and low income but the solutions are there too. Budgeting connects dreams and reality.
Mellen otieno
ReplyDeleteKenya 🇰🇪
Cohort 6
Batch B
From this module I have learnt that budgeting free you from money stress .Budgeting build planning, discipline and responsibility and just like other modules, it prepare you to build wealth, avoid debts and inspire others and contribute to community stability
Name: Brivin Muia
ReplyDeletecountry: Kenya
Cohort 6
Batch A
Summary:
Before budgeting, one has to know his/her income, list the expenses, set priorities, allocate money in needs, wants and savings & investments, put it in writing and finally review and adjust to it.
One can consider (50/30/20) formula on needs, wants and savings respectively.
Tracking of spending helps: Reveal where my money goes, identify wasteful habits and ensures my budget matches reality. We can use digital tools such as mobile apps and investment apps to track our savings and investments hence helping us budget.
we as KAFI leaders we should teach and train our peers and students to start budgeting their finances ino rder to create freedom, security and wealth.
Name: Christine Ndunge
ReplyDeleteCountry: Kenya
Cohort: 6 (Batch B)
I have learned that budgeting is a powerful tool that helps me take control of my money instead of letting it disappear without purpose. I now understand how to create a personal budget by identifying my income, listing my needs and wants, setting priorities, and using simple formulas like the 50/30/20 rule. The module also taught me the importance of tracking expenses, using digital tools, and building consistent habits to stay accountable and I can now teach students how to manage money wisely and turn their dreams into achievable goals.
Simon Shadreck Justen
ReplyDeleteMalawi
Cohort 6
Batch A
Money can be transformed from a source of stress into a tool for achieving dreams and security through budgeting. A budget is defined as a financial plan, essential for gaining control, preparing for emergencies, and making large goals attainable through disciplined steps. A personal budget starts by identifying all income sources, categorizing expenses into needs and wants, setting priorities, and allocating funds using frameworks like the 50/30/20 rule. Young people face financial management challenges, such as peer pressure and impulse spending.
Name: Noragbai P Naimah
ReplyDeleteCountry: Liberia
Cohort 6 (Batch A)
Group C
I learned that a budget is simply a plan for how to spend and save money over a set period. It acts like a financial map, helping prevent money from being wasted on unnecessary expenses. Budgeting is important for young people because it builds discipline, creates financial control, and makes long-term goals such as education, business, or travel more achievable by breaking them into smaller steps.
I learned the main steps of budgeting: knowing your income, listing expenses, setting priorities, and using the 50/30/20 rule, where 50% goes to needs, 30% to wants, and 20% to savings or investments. Writing the budget down and reviewing it monthly helps keep it realistic.
Tracking income and expenses is essential because it reveals spending habits and supports better decision-making. I also learned about practical tools like budgeting apps, mobile banking, and savings challenges. Finally, I discovered simple ways to teach budgeting to students using examples, games, and discussions.
Full name: Owino Mercy Atieno
ReplyDeleteCountry: Kenya
Cohort 6
Budgeting is an important aspect of money management.
It involves planning on how to spend and save money and the 50/30/20 rule is important in budgeting for your income.
Budgeting helps us have control over our income and makes long term and short term dreams come true. It also develops discipline as a skill.
Budgeting involves knowing ones income, listing expenses, setting priorities, tracking and reviewing and adjusting regularly.
Low income, Peer pressure
Impulse spending and lack of consistency are some of the challenges young people face in their attempts to budgeting.
Tracking expenses is important.
It reduces wasteful habits, enables one to know where their money goes.
We can use the available tools to track our expenses and make good money decisions.
Precious from Malawi I have learnt more about budget and what's a budget is now I have ideas on what I can do to have a budget and how can I make profit using a budget
ReplyDeleteMusuba Bishonga
ReplyDeleteZambia
Cohort 6
1. What Budgeting Is
· A budget is a plan and a map for your money, preventing it from "getting lost" in unnecessary spending.
· It turns money into a tool you control, not a source of stress.
2. Why It Matters (Especially for Young People)
· Gains you control over your finances.
· Prepares you for emergencies and unexpected costs.
· Makes big dreams achievable (education, travel, business) by breaking them into smaller steps.
· Builds discipline that transfers to leadership and entrepreneurship.
3. How to Create a Budget: The 6 Steps
1. Know Your Income: Identify all sources (salary, allowance, side hustles, etc.).
2. List Your Expenses: Categorize them as Needs (essentials) vs. Wants (non-essentials).
3. Set Priorities: Ask if an expense is necessary, can be delayed, or helps your goals.
4. Allocate Money: Use a simple rule like the 50/30/20 formula (Needs/Wants/Savings).
5. Write It Down: Use a notebook, spreadsheet, or app.
6. Review & Adjust: Update your budget monthly as life changes.
4. The Non-Negotiable Habit: Tracking
· Budgeting only works if you track your income and expenses.
· Tracking reveals where your money actually goes, identifies waste, and keeps your budget realistic.
· Methods range from a simple notebook to apps like Mint or YNAB.
5. Practical Tools & Habits
· Use technology: Banking apps, budgeting apps, and investment platforms (e.g., M-Pesa, Robinhood) simplify management.
· Build simple habits: Keep receipts, review weekly, and automate your savings.
· Overcome common challenges like impulse spending with the 24-hour rule and peer pressure by learning to say "no."
6. The Bigger Picture & Mindset Shift
· Budgeting is about freedom, not restriction. It frees you from stress, debt, and living paycheck-to-paycheck.
· It builds life skills: planning, responsibility, and discipline.
· It's the bridge between your dreams and financial reality.
Final Core Message:
Budgeting is the essential skill that gives you power over your money, allowing you to build security, achieve goals, and turn financial stress into financial freedom.
Budgeting plays a crucial role which does not impacts the owner only but the community and the economy as large.
ReplyDeleteBudgeting is the back bone of every aspects of life because everything which needs money that particular some would be able to meet everything needed whether it's an emergency or on going process without being into debts.
Budgeting allows youths to build thier future free from stress because they would be able to turn financial stress into financial freedom
Thank you KAFI for introducing us to this phenomenal gestures
Cohort 6 batch B
ReplyDeleteGroup l
I learned that a budget is simply a plan for how to spend and save money over a set period. It acts like a financial map, helping prevent money from being wasted on unnecessary expenses. Budgeting is important for young people because it builds discipline, creates financial control, and makes long-term goals such as education, business, or travel more achievable by breaking them into smaller steps.
I learned the main steps of budgeting: knowing your income, listing expenses, setting priorities, and using the 50/30/20 rule, where 50% goes to needs, 30% to wants, and 20% to savings or investments. Writing the budget down and reviewing it monthly helps keep it realistic.
Tracking income and expenses is essential because it reveals spending habits and supports better decision-making. I also learned about practical tools like budgeting apps, mobile banking, and savings challenges.
- Full name: Jesus James Fatch
ReplyDelete- Country: Malawi
- Summary of what you have learnt: Budgeting is a crucial skill for managing finances effectively. It involves creating a plan for income and expenses, prioritizing needs over wants, and allocating funds accordingly. The 50/30/20 rule provides a simple framework for budgeting, with 50% for needs, 30% for wants, and 20% for savings and investments. Tracking expenses and income is essential for successful budgeting, and various tools like banking apps, spreadsheets, and budgeting apps can help. Budgeting builds discipline, responsibility, and financial freedom, enabling individuals to achieve their goals and create a brighter future.
Name: Ongezwa Mlambo
ReplyDeleteCountry: South Africa
Corhot: 6
Batch: A
Planning ahead is what make us grow, living by the standard you've created, and challenging yourself on budgeting according to what you have. Even if you have to let go of wants just to have savings.
Budgeting is part growth, part of knowing how you've used money, and how is your saving getting grow each day.
I now believe it doesn't matter what your salary is, what matters is how you use it, and how to budget it accordingly.