menu
Expert Word
Welcome to the stickK Expert Word
Budgeting
By Jo Ellen Fritz   View more articles by this author
  Add a Comment    |    Bookmark and Share
November 24

You want to start saving more money to build up your cash reserves.  Or, you are determined to pay cash for your next car purchase.  Whatever the reason may be, you have to know where your money is going before you can determine where to find that extra cash.

The first step is to establish a budget.  If you use software such as Quicken to balance your checkbook you can easily print a report showing your spending by categories.  If you don’t use software then pull out copies of your bank statements or credit card statements for the last three months.  Total up the dollar amounts spent in each category.  Categories for example could include dining out, groceries, utilities, entertainment, and medical expenses.  Once you have your totals divide that number by three and that will provide you with an average of what you spend each month.

Next you’ll want to put your preliminary budget on paper.  First write down how much income you have each month to spend.  Then subtract each category item from the income.  After subtracting expenses from your income the balance should equal zero.  If the number is negative, spending more than you brought in, then adjust how much is budgeted to each category until the balance equals zero.

Now you have created a monthly budget for your household.  It is important to spend your money on paper before the upcoming month, allocating so many dollars to each category.  As you actually spend your money for the month then keep track of the totals.  You can do this by totaling the amount spent at the end of the day from receipts kept or viewing your account online periodically.

At month end were you in line with the dollar amount you budgeted? Did you spend a lot more in one category or a lot less in another?  Make adjustments to the amounts budgeted to these categories for the next month keeping in mind that the balance needs to equal zero. If you have difficulty staying within an allotted amount when you spend consider using cash for certain categories.

If you found yourself surprised by an unexpected expense such as a doctor’s visit or car repair then begin to expect the unexpected.  Allocate a certain dollar amount each month for this purpose.  Deposit this money in a savings account that is easily available to tap when necessary.

To have a successful working budget you must plan to modify your preliminary one.  Anticipate that it will take three to six months of reworking the numbers to come up with a reliable working household budget.  But by determining where your money is going you will find you have more control of your spending.  This will allow you to set aside money each month to reach a certain goal – and also provide piece of mind.

  Add a Comment    |    Bookmark and Share

Comments

Post Message
Seanbotts
Seanbotts
April 25, 2022, 12:49:54 PM GMT
Started repairing my credit 2weeks ago, and already my score has boosted from 450 to 786… This problem has been a burden on me all this while. Trust me, you wont regret working with him– just fast track your results with professionals like Remote Repair Credit Services.. He’s the expert everyone is currently talking about all over the internet..Get him on Remoterepair AT Clerk Dot CoM
Wentz33
Wentz33
April 16, 2022, 9:10:14 PM GMT
My biggest thanks goes to REMOTE REPAIR CREDIT SERVICES for bringing me out of shame. I'm a mother of 3 kids,I lost my husband 2years ago. He left me and my kids with a lot of debts, student loans, medical bills, tax liens and evictions. The little business I was managing to help my family with was going down, so I called my sister who lives in North Carolina, she introduced me to this Credit Specialist. He did a wonderful job on my credit report. I was amazed when I saw how everything reflected on my profile perfectly. He wiped out the bad items off my report and also loaded my account with $18,000. I got a high score of 786 with a good credit limit. This is all I can say about him compared to other good reviews I read about him on the internet. I will also refer him to anyone out there who is in need of his services. Kindly contact him on REMOTE REPAIR at CLERK dot COM
ButlerKay
ButlerKay
April 14, 2022, 1:07:10 PM GMT
Was late on paying my furniture bill 3 months in a row and now my credit score dropped from 745 to 368 and that was devastating. I needed someone to help me improve my score to get it back to the regular limit. Thank you 'Remoterepair @ clerk . Com' for proving to be a good credit agent and helping me clear up the debts thereby improving my credit scores.
Otamika
Otamika
April 12, 2022, 9:19:48 AM GMT
The criminal record on my credit deprived me of so many opportunities alongside 19 hard inquiries and about 15 derogatory items which messed up my report and lowered my credit score to low 544(TransUnion) 523(Equifax) 515(Experian). After my mum told me about REMOTE REPAIR. I reached out immediately and complied with the proposal, after about five days I was asked to pull my report to confirm the job has been done. Yes...... My score is now 801 across the 3 credit bureaus and all of those things removed. I strongly recommend them to anyone who’s in need of a credit fix. Email on: R E M O T E R E P A I R at C L E R K DOT C O M

stickK Expert Word

   Career
   Diet & Healthy Eating
   Education & Knowledge
   Exercise & Fitness
   Family & Relationships
   Green Initiatives
   Health & Lifestyle
   Money & Finance
   Sports, Hobbies & Recreation
   Weight Loss
+
Server IP 10.0.0.173
Portal Id 0
User Id 0
Unix Timestamp 1731479467
Current Timezone GMT
Server encoding: utf-8
Assets folder: https://static.stickk.com/yii-assets/dcbc9e4e
Payment Type PRODUCTION
Your feedback has been sent. Thank you!
This website uses cookies to ensure you get the best experience on our website. Read our Privacy Policy
Loading...