October 12, 2009

Budgeting: Setting up a basic monthly budget


This is going to be the first in a series of articles on budgeting and setting financial goals. Each part will build on the previous part so we're going to start out with the very basics.

You need to write this out in one form or another. It can be on a sheet of paper, on the computer, or in a notebook write out you monthly bills. Include only those bills that never change, like car payments, housing payments, etc. Just the basics.

Now at the top, write down your monthly income. Add up the bills, then subtract them from your income. Circle what you get.

The idea is to get a view of your monthly finances, how much money you have coming in and going out.

Your end total is going to change. I'll show you how in the next post.



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