Sections

How’s Business? Create a real budget

Share on TwitterTweet
Share on Facebook
Subscribe

Get our stories in your inbox, free.

Like TimesLedger on Facebook.

Ask yourself why you are creating a budget: Do you want to pay off debts, save for college, put away for retirement? Make a list of your financial goals for the next six months, five years, decade - all the way to retirement. Physically write down and tally your monthly income, jotting down your expenses by including recreational monies in the expenses. Then track your expenses monthly, which will lead to you rooting out money leaks.We all waste money and cannot track every expense, no matter how hard we try. Think about your weekly purchases. For the first few months, until you get your own system in place, track and record every penny leaving your hand. Pay attention to variable expenses like groceries, entertainment, utilities and clothing - unlike a mortgage, which is a monthly fixed expense.So How's Business in regards to creating a realistic budget? Budgeting is not painful once you follow a series of steps. You will be better off financially, with more money to spend and save, after realizing where your money goes. Strive to reach a place financially where your spending decisions are deliberate. A budget is like a diet. If you willfully commit to sticking to a budget, you will be happier financially.Reach Joe Palumbo at 516-248-0256 or info@camelotlimo.com.

Today’s news:
Share on TwitterTweet
Share on Facebook
Subscribe

Get our stories in your inbox, free.

Like TimesLedger on Facebook.

Reader Feedback

Enter your comment below

By submitting this comment, you agree to the following terms:

You agree that you, and not TimesLedger.com or its affiliates, are fully responsible for the content that you post. You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening or sexually-oriented material or any material that may violate applicable law; doing so may lead to the removal of your post and to your being permanently banned from posting to the site. You grant to TimesLedger.com the royalty-free, irrevocable, perpetual and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such content in whole or in part world-wide and to incorporate it in other works in any form, media or technology now known or later developed.

CNG: Community Newspaper Group