Money Talk Daily

Where To Begin

The first thing to do is get a piece of paper or program on the computer such as Microsoft Office. Your money needs to be split into different categories that will show where the money is being spent. None of the sections should be labeled miscellaneous. One of the categories should have rent, house payments, or another living expense. Electricity, water, cable, etc should all be put into one utilities category. Each child should have a category. You should split up food into groceries and restaurants. You and your spouse will need two different categories if you can afford them. There should be a category for car expenses and one for personal items. These should show you where your money is going every month.

The Next Step

Make sure you know what amount is to be put toward bills. These would include things such as rent or phone bills. Make sure they are at unchangeable rates in order to keep your budget intact. This will help you to see what money goes to which things. You should then place the amount you normally would spend in a month into each category. You should figure out what you spend on things by living for a month and recording what you spend money on. It may shock you how much money is being spent in different areas.

Last Thing on the List

The last step is making sure your budget balances out compared to the your income. This means your personal fund may need to be subtracted from. If there happens to be extra money at the end of the month, that is a great thing; the money should be put into savings for future emergencies. It is important that you stick to the budget. The budget may show you that you can’t go out to eat anymore, and you must then stop going out. In the end it will be worth all the money you saved by not spending money on everything you want.

My Short Story

In college many people struggle. It seemed impossible to be able to afford to pay for anything. I had to figure out how to pay all of my insurance and monthly bills which I managed. I was concerned that I wouldn’t be able to afford all of that as well as food and personal expenses. To pay for everything I had to put as little money as possible into each category. My family needed a new program that I found and used. The program worked miracles in my lives. I learned how to stretch my money to pay for all of my expenses. My budget is still being done with this program.