every month is a perfect time to take up a topic that many of us would probably rather not think about - budgeting. but as a map guides us, so does the budget.income is the first consideration to make in budgeting. we need to find out how much we earn in order to budget well. it is in budgeting well that we will also be able to save. here are some steps to take:
- make a four-column list. the first column would have income on top with expenses below it. the other columns would include Expected, Actual and Difference.
- list down your expected income and your expected expenses.
- daily list down your expenses in a small notebook then transfer the numbers in your four-column list at the end of the month.
- now you can tally the difference between your Expected income from your Actual income as well as from your Expected Expenses from your Actual Expenses.
- Analyze your expenses.you might need to tone down or remove other expenses altogether.of course, if you have a debt, then you need to make a plan to slowly pay off the debt.
saving should be included at the top of your Expected Expenses list so you are encouraged to pay yourself first through saving. then budgeting will not only become an exercise in futility but a creative pursuit towards achieving positive plans and goals. (finance.yahoo.com)
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