SELF IMPROVEMENT

budgeting process
Budgeting is the process of gaining control over the use of every dollar you earn. It is the process of striking a balance between income and expenditure. When creating a budget:
2. Estimate fixed expenses: You may have fixed expenses each month like your rent or mortgage, utility bills, car payment, cell phone etc. Ideally, you should set aside 10% of your income as savings.
3. Next estimate variable expenses: Variable expenses are items such as travel, dining out, entertainment, groceries, clothing etc. It is in this category that there a big opportunity for money management and finding new money, especially when it comes to cutting down expenses.
4. Then evaluate your income and expenses: An important task of budgeting is to evaluate whether expenses are within your income. If expenses do not match income, you must make cuts in your expenses, start with