Budgeting Tips For People Living On A Budget
by Phil Bradford How do you feel when you hear the word ‘budget’? Are you making that face saying “Oh no! Again that stressful thing!” But, a budget helps you lead a stress-free life as you can manage your finances almost effortlessly. If you always postpone your dates to plan the perfect budget that will…
Fixed Expenses Note: This term is used to describe items that must be considered each month, not items that either can be “postponed” or that may be one-time, or nonrecurring, expenses. While some amounts can vary widely from month-to-month, it is a simple task to figure out an average monthly payment. Add your total payments…
In a nutshell, the following are the 8 steps to creating your personal budget: 1. Set your goals Goals are what you want to achieve in budgeting. Do you want to have a $5,000 savings within one year? Get rid of all your debt in three months? Or just have your income and expenses balance…
Budgeting is the most basic and the most effective tool for managing your money. Yet, most people avoid doing it because it is additional work, much like cutting your lawn or fixing the roof. Budgeting also connotes that you have to give up and stop yourself from enjoying stuff. What budgeting actually does is clearly…
