Hello, my name is Oscar. Welcome to my site about money services. When I first started my job in a new state, I had to lean on payday loans to establish residency and make it through the first pay period. I am thankful for the ability to secure these loans and pay them off in a reasonable time frame. I hope to use my experiences to help other people secure the financial help they need to make it through difficult times. I will explore all of the different money service options in each region. I hope you will visit again soon to learn more.
Building a monthly budget to keep your finances in check will help you see exactly where your money is being spent each and every month. It will also help you at the end of the year as you will have a clear picture of where you spent your money each money. Here is a step-by-step guide to building a monthly budget and sticking to it.
1 – Start a spreadsheet and begin outlining all your money expenses, including rent, utilities, cable, phone, groceries and transportation. All the expenses should be a entered into the spreadsheet and then at the end of the column tally up all your expenses to give you to the total amount of money you need to make each month.
2 – In a separate column within the spreadsheet, enter all the monthly income that comes into your's and your partner's household from jobs or any small businesses that generate money. At the end of the column, tally-up the total amount of money that you earn per month.
3 – Take the total amount of money spent in expenses and subtract it from the total amount of money coming into the household in your earnings column. The amount after subtraction if the total amount of money that you have to work with all your expenses have been paid before going into debt.
4 –Divide the final number you have in step three and then divide it by four to give you the total amount of money you have to spend per week. Take one of the amount for one week and allocate it to debt repayment, another week should be put towards an emergency savings fund, then the final two amounts can be put towards entertainment or miscellaneous expenses.
5 – Take the weekly amounts outlined in step four and separate the full amount into one of four jars at the beginning of the month. When you need to make a purchase during the month you should only use cash from one of the jars and record each purchase throughout the month. At the end of the month tally up the total purchases to see exactly where your money is being spent.
6 – At the end of the month, any money that you have left over for debt repayment should be paid onto credit cards or existing loans. Any amount that you have left over for the emergency fund should be deposited into a bank account to build up a fund you can dip into when unexpected expenses like car or household repairs arise.
Following this monthly budget outlined above will help you to see exactly where your money is being spent and track it so you can file your taxes easier at the end of the year. If for any reason you find yourself still going over budget each month or your debts are more than the amount of money you earn, then you should contact a financial expert who can sit down with you to work out a plan to get your finances back on track. To learn more, contact a management accounting firm like Dale K. Cline, CPA PLLC,
Share3 March 2016
