How to Make A Budget
Debteriorate is in the business of helping others get out of debt through debt consolidation, debt payoff and debt counseling. We know how overwhelming it can be when your income isn’t enough to pay for all of your bills. That’s why Debteriorate suggests that first you figure out where you stand by creating a budget for yourself. That will help you ‘see’ what’s coming in and what’s going out, helping you manage your money and eventually stretch your dollar further.
Here’s a detailed list of items to consider when creating your budget:
- Mortgage or Rent
- Condominium Fees
- Property Taxes
- Home Insurance
- Electric
- Water
- Trash Collection
- Groceries
- Toiletries
- Restaurant
- Other Entertainment
- Internet
- Cable
- Home Phone
- Cell Phone
- Clothing
- Dry Cleaning
- Car Payment
- Car Insurance
- Child Care
- Student Loans
- Health Insurance
- Life Insurance
- Medicine
- Doctor’s Visits
- Other
Now, fill in the blanks:
Monthly Income:
Monthly Expenses:
Disposable Income:
Now that you know what you’re monthly expenses are, you can clearly see how much money you need just to break even. Plus, you always want to make a little extra so you can save for a rainy day. If you’re salary at the moment doesn’t cover your expenses, you can either look for a higher paying job or lower your expenses. Maybe cut down on entertainment or dry cleaning. Also, you can read up on tips for lowering your electric bill. Maybe even switch insurance providers and save a little more. Remember, if you’re still feeling overwhelmed Debteriorate can help.
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