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Creating
a Budget
By:
David Korn
Creating a budget can help you organize your expenses. You can make a monthly or yearly budget to keep things in order. When you are able to see your expenses organized, it will help you to avoid going over your limit. As a result, you can put aside some money for savings as well.
Keeping track of your money is one of the most important things to do. Too many individuals fall victim to financial difficulty. Organizing your money and spending limits can help curb financial problems. I will outline a sample budget that will list the basic expenditures. It is adjustable and an easy way to keep track of your finances.
| Income |
Income Earned |
| |
|
| Expenses |
Deduct from each row |
| Electric |
|
| Utilities |
|
| Insurances |
|
| Taxes |
|
| Food |
|
| Gas |
|
| Miscellaneous |
|
| |
|
| Net Income |
Subtract Income - Expenses |
This sample budget will help keep track of your finances. You can add in extra rows for expenses if necessary (i.e. mortgage or car payments). As long as you follow your budget, you can result in a net income that is profitable. That can go towards your savings. Make sure you don’t spend more than your income. That will result in personal debt. The idea is to make a profit that will build up over time.
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