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Learn from Chris.

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This is how he manages his budget

on Xhuma

What he does with his budget

Chris is a wonderful example of someone who works responsibly with his finances each month and the way he allocates it is a great example for any other people out there.


Chris has set up his budget into various different categories. Let's look at some of healthy financial habits he puts into place with this as many of his habits are a good guideline:

  • He receives his salary on the 25th of each month and he has set recurring transfers of nearly 10% of his salary to fund his emergency savings vault and his holiday savings vault. These are the two items he wishes to save for.

  • He knows his biggest expense each month is his accommodation and that's why it's about 38% of budget total.

  • He has also opted for a budget where he saves & invests nearly 20% of his salary every month because he wants to be able to have a comfortable retirement one day.

  • With the rising price of fuel he has allocates quite a bit to transport as he requires it to get to work every day. 

  • Chris has to eat and that's why about 22% of his budget is allocated to groceries and entertainment.

  • He also cuts back on his shopping each month to fund this and gives himself some wiggle room with an entertainment budget each month.

  • Chris knows he has to pay for healthcare every month and he has opted for a base level hospital plan to cover any emergency healthcare expenses.

  • Should any unforeseen expenses come up he allocates it from his emergency savings vault, which means he rarely goes into the read each month. 

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How he sets it up on Xhuma

He went into the budgeting tab and clicked on manage budget to set up all the details as shown in the screen below. He keeps tabs on his budget by visiting the budgeting tab and viewing each of the notifications that show him how much he has left in every category at any moment in time. It's great because he can see whether he is on track to make his goals and for each category what he has left to spend per day.

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What you can learn from Chris

  • Set up your budget categories and allocation much like Chris does it to ensure you stay within your means each month.

  • Use the recurring transfer to set up savings vaults for each and every financial goal you have, whether it be the holidays or just an emergency savings vault. You can set it up by clicking on the Vaults tab and setting up a new vault (learn more about these steps by seeing how Themba uses the same tools to save for an iPhone)

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