Personal Budgeting

I've just updated my budget. If you don't have one you really should. If you know how to work in Excel, it's even better. Over the years, my budget has become more intricate, but having a basic one can be a great help in organizing your finances. You can start by entering all of your current sources of monthly income. I use the net take-home pay amounts since that's the money "goes into your pocket". Subtotal your revenue. Then make a list of your monthly expenses. I separate mine by fixed monthly expenses (such as mortgage and car payments) and variable expenses (such as utility bills, phone, cable, etc. I also have a section for food, household expenses and gasoline. Subtotal your expenses. Then take your total monthly income and subtract your total expenses. If you are in the red, don't come down on yourself too hard. Knowledge is the first step in making changes. Feel free to post any of your budget making tips, challenges or experiences. For more help with budgeting feel free to email me at admin@ambookkeeping.net