Budget your Money

The most important financial decisions we will ever make is to understand & learning how to make a personal budget. why is it so important because it gives us control of our money and tells us what needs to be done so If we are living on constant struggle with one paycheck to another paycheck, our money is not working for us, it's working for all our creditors and making them rich. It won't be bad for us if it turn its head make ourselves Rich instead.
Personal Budget helps us to track our income & expenses and shows us where our expenses are more then they need be. This allows us to Judge our decisions about how we spend our money and what you need to do to ensure that your future is financially sound.

1. one will need their last five months of pay bills. Add the total net pay and divide by five. This will give us your average income per month. Write that in the income column. Be sure to include all our income sources.

2. This same formula applies to our monthly expenses. Gather up our last five months of bills, credit card statements, and any other expenses we have. It is also a good idea to go through our cheque books's so we don't miss anything. Get an average for each category and then add them all up and write that number down at the bottom. This will give us a good are to start thinking.
3. Subtract the total expenses from the total income and see we stand. If our expenses are greater then our income than we have some work to do.

4. Look over our budget closely and start targeting expenses that we think are belligerent . our budget should allow us to start freeing up money that can be put for a better use.

5. we can also start prioritizing which expenses and debts need to be paid first.

6. As our budget evolves we can start using it for further refining our financial position. Retirement plans, and investments,Savings accounts can all be managed from that.

7. We have to be patient when we start. our first budget will be more of a sketched idea or a draft for future budgets. It normally takes a good three months before you will start to get your budgeting process dialed in.

The most important a Personal Budget will do is help us to take control of our money by making us to take disciplinary action towards money.
as they say money saved is money earned.