Have you given any new thought to your budget and how to make a budget? Or are you like many and it is money in and money out. If you find yourself at a much younger age than this retired senior writer then you may want to take a good long look at your budget. Are you saving enough for an emergency or for your retirement? If not why not grab a cup of coffee or tea or what ever and sit down with your numbers.
What are your needs?
What are your wants?
Are you saving anything. ?
The following is directly from the Internet with a link to read more if you want of the article.
The first step to creating a 50-30-20 budget is to allocate 50% of your monthly income to your must have items in life. This is a roof over your head, food, clothing, water, medical care etc. You need to make sure you are allocating only must have items to this part of the budget. Must haves are not a new shirt, a cable bill, gym membership, or anything other than absolute must haves to survive. Once you have done this you have completed the 50 portion of the budget.
The second step to creating a 50-30-20 budget is to allocate is the 30 portion. The 30 portion is the 30% of your monthly income that you can spend on what you want. This list can include your gym membership, cable bill, eating out, a new pair of shoes etc.
The third step to creating a 50-30-20 budget is the 20 portion. This is 20% of your monthly income that you are going to set aside in case of an emergency, or to pay down any debts that you owe. You can use this money in the event of a medical emergency, or in case you ever lose your job and need to have money available.
I will not get into specifics about our income or our outgo but I can tell you that we are just squeeking by with our needs and wants. Problem is there is no money going into savings,
charity giving is very low which is not okay with either of us and our weekly allowance is not enough. This weekly allowance covers food at home, food out, gas for car or any kind of entertainment.
This leaves one way out and that is to make more money some how. How much money would that be a month is the key to all of it. I know what this figure is for us. It would be great if we could bring in $1200 to $1500 more a month net. To that you have to generate some sales some where. Means I may need to go and get a part time job some where which is something I do not want to do really.
We have different options since we buy and sell to suppliment our income. We do this either at Amazon, eBay and selling items either at the antique store or at the auction house. But how can I accomplish this in the time we have.
Now it is your turn to take a look at your budget, your needs, wants and are you saving enough for your future.
Thanks for stopping, I hope that you will be back some time and take a few minutes to look at some of my other postings. I will be sharing this over at Saved Quarter blog
Read more: How to Create A 50-30-20 Budget | eHow.com http://www.ehow.com/how_5318525_create-budget.html#ixzz1lozUM300
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