Budgeting

I want to apologize  for posting this late, but it is an important information.  It has been a long time since I have talked about budgeting.  I have stopped tracking my money and, it seems that my budget is off.  So, let’s do some spring cleaning with our budgets.   It has been a long time since I have talked about budgeting.  I have stopped tracking my money and now it seems that my budget is off.  So, let’s do some spring cleaning with our budgets. Here are some tips  to help you do so spring cleaning.

  • Categorize your expenses. When you begin setting up a monthly budget, start with big categories before breaking your budget down into smaller expense categories.
  • From your list of expenses, develop two separate budget lists, one for essentials and the other for extras.
  • Look through these lists to find flexible budget expenses where you can cut back.
  • Estimate what you spend. Go through your checkbook and any other receipts or records you’ve kept over the past few months so you can track how much you actually spend on both essentials and extras.
  • Add up your budget essentials list and the extras list separately.
  • Subtract the essentials total from your monthly income and, if you have money left over, subtract the extras total from that amount.
  • If your extras list takes you into negative numbers, start looking for places to cut back.

Reference: m.dummies.com/…w-to-create-a-monthly-budget.html

 

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