Why Make a Budget?
Budgets help you plan, prioritize, and manage your income [what comes in] and expenses [what goes out]. Typically you want your income to exceed your expenses, so that you are able to save. Problems tend to occur when your expenses exceed your income.
How To Make a budget.
- Write down your monthly take-home pay and/or income. Or if you’re out of work, your unemployment compensation. If you’re in sales – or work on commission – you may have to estimate, since your income may vary from month to month. List income you receive from any source, like a part-time job, a tax refund, gifts, unemployment, public assistance, dividends, and alimony or child support. Add the entries to determine your actual income for that month. Keep in mind, some of these amounts may fluctuate. [click to continue…]
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