MAKE A LIST OF YOUR MONTHLY BILLS
Monthly bills consist of things such as rent, electric, water, council tax and gas. These are bills that are usually the same amount every month. Make a list of all the bills you pay every month along with how much you are paying for each one. Now add up the figures so you know how much you are paying each month in total. If a bill ranges between two amounts then write down the higher amount. For example if you pay between £50 and £70 for electricity then write down £70. You can find the amounts by reading through your bills or bank statements.
Some Electric and Gas companies give you the option of paying a single monthly payment. This way they can monitor how much gas or electricity you are using and adjust your monthly payment accordingly. It is good if you take this option so you only need to add the extra money when they increase or decrease the direct debit. The companies don’t mind you going into debt with your gas in the winter as your payments will reduce the debt in the summer months if
It is pretty interesting. When I first started my business, I made it a priority to get a closer look at my monthly expenses. To my disbelief, I soon realized that the majority of my expenses were being spent foolishly. In addition, my monthly income was not increasing, though the workload on my plate was.
After I did some research, I decide to craft a business budget. My new business budget gives my room to grow while earning a profit. In the chance that you are going through what I went through, I am sharing a 5-step plan to creating an awesome business budget.
TALLY UP YOUR INCOME SOURCES
The 1st element of a good business budget is understanding how much money you bring in on a monthly basis. Please include all sources of income that you receive.
Figure out the fixed costs
Fixed costs are the expenses that are charged to you at the same price each month. As you may know, incorporating these costs is the easiest part of the process, in my opinion. You can review what are your fixed costs by reviewing your bank statements
Incorporate Variable Expenses
Reconsider Your Financial Goals
Goal-setting is a crucial financial consideration for a newly married couple. Take time to talk about your specific goals and what you would like to accomplish financially as a couple. You could discuss things such as your debt payoff plan, savings goals, retirement planning, and new additions to your family. Next, you will need to list specific steps and the timeframes for achieving each goal.
Work Out a Joint Budget
A budget is an excellent financial tool for you as a newlywed. Having a budget or spending plan in place will let you and your spouse control where your money is going. Whether it’s savings, insurance premium payments, debt repayment or spending, make sure you are both on the same page with decision-making.
After getting married, you should assess your tax withholdings and your investment channels to potentially help reduce taxes and increase your retirement savings. Tax-advantaged accounts, including workplace savings plans, health savings accounts (HSAs), and IRAs can be helpful tools to plan wisely for your long-term goals.
Review Your Insurance Coverage
We are becoming a culture of speculators, where hindsight is replacing the reality-based foresight that once was flowing in our now real-time veins. Still, the markets have always been dynamic places where investors can consistently make reasonable returns on their capital. If one complies with the basic principles of the endeavor and doesn’t measure progress too frequently with irrelevant measuring devices, growth in working capital, market value, and spendable income are quite likely to happen… without undue risk taking.
The classic investment strategy is so simple and so trite that most investors dismiss it routinely and move on in their search for the holy investment grail(s): a stock market that only rises and a bond market capable of paying higher interest rates at stable or higher prices. This is mythology, not investing.
Investors who grasp the realities of these wonderful (speculation driven) marketplaces recognize the opportunities and relish them with an understanding that goes beyond the media hype and side show “performance enhancement” barkers. They have no problem with the “uncertainty”; they embrace it.
Simply put, in rising markets:
- When investment grade equity securities approach the “reasonable” target prices you have set for them,
The Idea Stage
The first stage of a mania starts out with a great idea. The idea is not known to many people yet, but the potential for profits are huge. This is usually translated as unlimited profit, since “something like this has never been done before”. The internet was one such case. People using the paper systems of the time were skeptical as “how can the internet replace such a familiar and entrenched system?” The backbone of the idea begins to get built. This translated into the modems, servers, software and web sites needed to get the idea into something tangible. Investments in the idea stage start off lackluster and made by people “in the know”. In the case, it may be the visionaries and people working on the project.
In the cryptocurrency world, the same question is being asked: How can a piece of crypto code replace our monetary system, contract system and payment systems?
The first web sites were crude, limited, slow and annoying. The skeptics would look at the words “information superhighway” that the visionaries were spouting and saying “how can this really be that useful?” The forgotten
Rule one. Don’t borrow money for consumable goods. What are consumable goods? They are stuff that loses value over time. Stuff you want but can live without. Examples are electronics, subscriptions to magazines, automobiles, etc.
Rule two. Live within your means. In other words, digital signature, spend less than you make. I know that may sound hard if you are on a tight budget but to just take easy credit when it is available to you is simply inviting financial disaster.
Rule three. Become financially educated. This can only be done by reading all you can about the various investment options available to you. There is really no excuse for not being kept up to date with all of the financial news because there is so much information on financial matters available on and offline.
Rule four. Diversify. A mistake that some investors have made in the past is to put all of their eggs in the one basket only to find that the company they invested their money in went belly up. Prudent investors diversify. That is spread their money around in various companies to minimize their risk.
The practical information from doing budgeting causes the mind to consider or take a closer look at how our money is being used. Another word, is this item necessary? Or Do I really need to get that done right now? Maybe I should wait a little longer on that one. Or you might remember, something like, I have an old one of those in the garage, it that works just fine. I think I will pull it out next week and clean it up.
Some other information may help us to see a history or a pattern of our expenses. This information may cause us to make an adjustment for the better or consider a more reasonable path. The working budget can open these doors to us. I heard a statement on TV one day that said information is power. So weekly, monthly and sometimes daily budgeting is a real benefit.
If you are married, the excuse that my wife or husband manages the money can be a detrimental. The whole family unit will suffer behind that kind of thinking. Budgets are for everyone.
As for as the mental awareness of the budgeting, it’s just
Couponing can be a lot of fun too whether you are doing it with someone or you are going solo. What an experience it is when you are at the register listening to every beep bringing down your total as your coupons are applied reducing the retail price of your goods. All of your time, effort, and hard work is paying off as they play your favorite beep song in subtraction mode.
Equipped only with the fundamentals you too can realize a great deal of savings. Couponing in the beginning is a lot of work, because your couponing skill is new and has not yet become habit. Learning couponing can pay off big however if you stay the course. For example, think about when you were learning to walk. It wasn’t easy but you stayed with it. How about when you learned how to cook, the amount of work it was in the beginning. But after you mastered the basics, you could almost cook in your sleep.
So you want to know how to get started grocery couponing? Couponing like any skill requires knowledge. Grocery couponing can be frustrating, and almost impossible if you don’t equip
The fiduciary standard legally obligates advisors to put your interest before their own. Advisors that work under a fiduciary standard must disclose any conflict of interests and share with you whether they benefit from recommending any products or other professionals. They must be transparent as to fees the advisors gets for that advice.
In contrast, the suitability standard is a standard requires advisors to suggest investment products that are appropriate for you. There is no standard to conclude that the investment will help you achieve your goals or is in your legal best interest. Also, there is no requirement to fully disclose any conflicts of interest, potentially allowing an advisor to recommend products that may provide higher commissions for themselves instead of similar products with lower fees.
There are wonderful advisors and poor advisors that work under both the fiduciary and suitability standard. We work under the fiduciary standard and highly value the trust we know it provides.
An advisor’s professional designations and experience matter. It gives you great insight as to the advisor’s knowledge and areas of expertise. There are over 100 different types of credentials and they can be very confusing. If you