Money No Enough

     Wif such a high inflation rate, sign…………….our dollars seems 2 b shrinking…………looks like have 2 create budgetary steps le.

• Create a list of all of ur mthly income. If u have any sources of income dat r received annually den simply divide this no. by 12. It is impt to list all sources including alimony, child support, side jobs, etc. This figure will set d cap on your total budget.

• Create a list of all yur mthly expenses. If an expense occurs less frequently, simply prorate it to fit a mthly format. Be sure 2 include such xps as; housing, food, transportation, utilities, entertainment, etc. It is wise to track your spending for a full mth during this stage of budgetary planning. Save your receipts n each evening write down your xps for d day. This is d best way to gain an accurate reflection of actual xps.

• Determine if your income covers all of your current expenses. If d answer is no, den expenses nid 2 b reduced.

• Adjust expenses. This can be done in a variety of ways. Depending on d amt of d shortfall, it may be a simple matter of reducing some discretionary spending, such as entertainment, or food.(i.e. the no. of times u eat out in a given mth) If the deficit is larger den it may be a matter of downsizing, example,  your living arrangements. If your income covers all of your expenses den this is still a good opportunity to trim some of the fat off of your spending habits. This can help free up extra money for a variety of reasons ranging from, college educations for the kids, to a nice anniversary trip wif your partner.

• Add new categories if necessary. 3 areas dat r often overlooked r (1) debt reduction (2) retirement savings & (3) emergency savings. An emergency fund will ensure dat there is an adequate amount available to cover an unforeseen even (i.e. the car breaks down) should it arise. This will prevent the use of credit which can quickly break a personal budget.