This qualitative study, particularly using a phenomenological approach, investigates the experiences of school leaders in crafting and planning the annual school budget in the private school. Seven school leaders participated in the in-depth interview, were chosen through a purposive sampling technique, and met the set inclusion criteria. The data was analyzed through coding and thematic analysis. Results of the study shows that school leaders experience challenges such as having financial resources scarcity due to low student enrolment, balanced limited financial resources, prioritized financial needs and resources, justified the allocated budget through the budget hearing, utilized the institutional budget for its allocated purpose, and struggled in keeping students. To cope with the challenges that they had encountered they used the following strategies: optimizing resource management strategies, maintaining transparency for sustainability, effectively navigating and complying with policies, navigating challenges through collaboration, and implementing strategic budget reductions. In addition, they also shared insights such as: investing in marketing and promotion, considering and prioritizing stakeholders’ needs, budgeting based on the available sources, joining seminars and trainings, and having linkages with different organizations. The findings underscore the vital importance of adaptive leadership in navigating financial limitations in educational organizations. The insights obtained can assist present and future school leaders in creating proactive financial plans and fostering resilient educational settings.