Budgeting
A budget is a written plan for how you will spend your money. You can create a monthly or an annual budget. The budget allows you to make financial decisions ahead of time, which makes it easier to cover all your expenses throughout the year.
Creating a Budget
Creating a budget is a firm way to take control of your money. With a budget you are able to tell your money exactly where to go, rather than looking back and wondering where it went. Budgeting does not have to be an intimidating task. It is a necessary activity for individuals and families. So, this is where the question arises: “Where do I start?” I am sooo glad you took the time to stop here and take this first step in becoming the master of your money.
Write it Down
Write down your total after-tax income.
List It
List All Your Expenses
Expenses should include your regular expenses (mortgage, utilities, car note, etc) and your irregular expenses (home repairs, insurances, homeowner’s association dues, lawn care, etc) that are due in the upcoming period. ALL expenses should be accounted for, including food, entertainment and gas. This should also include your savings and investments as well.
Bottom Line
Your Bottom Line Should Be ZERO.
Track It
Track Your Expenses
