Site Archives Budgeting
Record Keeping Basics
Income —In this project, income is anything used to pay expenses and could include bonuses, investment gains, gifts or an inheritance. Record savings withdrawn to pay expenses as income and classify money put into your savings account as an expense.
Salary —It’s simpler to include as salary only your take home pay. […]
Budgeting is a valuable instrument to help you prepare in advance for the storms. Having a financial plan is absolutely essential in enabling you to manage your money, whether in “smooth flying” or in rough times. A financial plan will be a great help to you in making realistic decisions. Decisions must […]
Build a Huge Nest Egg
You can build a huge nest egg for your later years simply by living below your means. Does it mean driving a car that should be abandoned in a junkyard? Not really. Does it mean eating oatmeal seven days a week and drinking only water? Not really, but perhaps […]
Debt vs. Deficit
What is debt? What is a deficit? Do the two words mean the same? We often hear the two used wrongly and completely out of context. In simple terms, we can explain the differences in this way.
A deficit is the amount by which a sum of money falls short of […]
“But don’t begin until you count the cost. For who would begin construction of a building without first getting estimates and then checking to see if he has enough money to pay the bills? Otherwise he might complete only the foundation before running out of funds. And then how everyone would laugh! […]
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