2006-06-12 06:38:28 · 7 answers · asked by c c 1 in Business & Finance ➔ Personal Finance
One way to do this is to write down everything you spend each and everyday. You can do this once a day. It will show you were your money is really going, and show you where you can cut back.
Also budget for the known expenses like house payment, rent, or car payments. Then you can see what your variable expenses are, and budget wisely.
2006-06-12 06:43:07 · answer #1 · answered by lynda_is 6 · 4⤊ 0⤋
No matter what you're funds are, you can create a budget because that's the main factor in the budget you create. You create a budget BASED on your income. Figure out your monthly income, and then your monthly expenses. Divide the amount of your monthly expenses by 4 (for 4 weeks in the month) and save that amount of money aside each week out of your income for your expenses. If your expenses are more than your income, then you either need to increase your income, or try to decrease the amount of your expenses.
Hope this helps, if you wanna ask me anything, contact me. I'm pretty good with money.
2006-06-12 06:46:43 · answer #2 · answered by angelbaby 7 · 0⤊ 0⤋
Creating a budget can be done anytime regardless of income. And if your funds are limited, it is very helpful to be able to see where the money is going and where you need to economize.
It is best to have a budget regardless of income. It helps you learn how to save. It also helps you to decide if you truly need to spend your money on this instead of holding on to it to pay for that. For example, can you really afford to buy the latest 50 cent CD when you need to pay the phone bill?
2006-06-12 06:44:04 · answer #3 · answered by Blue 6 · 0⤊ 0⤋
Go to the site below for a sample budget, or check out one of Dave Ramsey's books from the library (the budget form is in each of them). His two books are "Your Total Money Makeover" and "Financial Peace".
Regardless of your income, everyone needs a budget - otherwise, you don't really know if you're sinking, swimming, or floating.
Once we did our budget, everything else fell into place - we could see where we needed to cut back.
2006-06-12 15:34:06 · answer #4 · answered by homeschoolmom 5 · 0⤊ 0⤋
It's only when your funds are limited that you need a budget. How else will you ensure that you spend wisely? Take your income, and separately list the "must-spend" items. After reviewing the list, you may either have to reevaluate what are "must-spends" or you may be happy to learn if you live within your means, that you have money left over to spend on things that you would like to (as opposed to spending on things that you have to - like rent, living expenses, etc.).
2006-06-12 08:14:44 · answer #5 · answered by ash 3 · 0⤊ 0⤋
Poor financial health is the plague of the 21st century. Why? Because NOT ONE of us were ever taught in school how to effectively manage our money, or our time! This has caused snowballing debt, bankruptcies, business failures, divorces in record numbers and it has destroyed the retirement dreams of millions.
The Cure:
The Financial Freedom Society.
The Society's mission is to help eliminate those social diseases by providing affordable training, monthly coaching, and professional services and tools to the masses.
Find out more and get the FREE report
called "The Financial Freedom Formula"
at: http://your.ffsi.com/59173
2006-06-12 14:21:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Thats why you need to create the budget. Get one figured out and stay on it.....(~:~)
2006-06-12 06:43:13 · answer #7 · answered by ? 5 · 0⤊ 0⤋