|
 |
Would you like to have more money? Who wouldn't? Would you like to be more confident about your future and have more financial control? |
Nowadays you need money for everything.
So how can you get more money or save what you already have?
First of all you need to have a budget or a "money planner."
Everyone should make a budget to organize and manage their money.
The first step is to figure out where all your money comes in from this is your "income."
The next step is to collect information on your "expenses" or where all your money is spent.
If you use your debit card regularly a good starting place is to review your bank statements.
If you pay with cash you will need to use your bills, receipts and records.
Fill in the chart below with your income and expenses. Printable Budget Chart
All Regular
Expenses |
All Regular
Income |
rent/mortgage ________________________ |
take home pay_____________________ home business_____________________ babysitting/odd jobs_________________ government benefits ________________ gifts_____________________________ child support______________________ allowance ________________________ other____________________________ other____________________________ |
| Total All Your Income $__________ | |
- If you have
a negative balance you will need to review your expenses and priorities.
Check out these two sites on consumer awareness
site 1 Learn to shop smarter, save on your bills and cut back on frivolous items. Small savings quickly add up over a month's time. + If you have a positive balance you are in good financial shape. Keep in mind that you should always put money aside for emergencies. |
|
| Total All Your Expenses $______________ | BALANCE $________________ |
Some expenses are "flexible" such as entertainment, trips, hobbies, and gifts.
These amounts vary and increase or decrease from month to month.
Other expenses are "fixed" such as rent, car and loan payments.
These expenses remain the same from month to month.
Other expenses change during the year.
For example your power bill will be more expensive during the winter months than in the summer.
To have a more accurate budget you will need to find average costs of these "fixed" and "flexible" expenses.
For example, with power bills add up all the bills for one year and divide them by 12.
You can also phone the power company for the average monthly cost.
One you have accurate expenses use a spreadsheet to make your budget pie chart.
Compare it to the "budget guide" at the top of this page.
Even though everyone has different lifestyles the percentages can help serve as a guide.
If you notice quite a difference in some areas you may have to adjust your budget.
By having a budget and sticking to it you can save more money to put towards your future goals.
Previous Page
Page Last Updated:
April 12, 2006 12:55 PM
