The things you don't notice I was recently running through the bills and seen the usual stuff the junk mail the political stuff and my credit card statement.
I opened it up and pulled out the statement.
The first thing I looked at was the balance.
Normally I just pay it and move on but this time I decide to actually read the statement thoroughly.
Everything looked normal until I got to the bottom of the statement and saw a charge for $98! I just realized that I was paying for something I didn't want.
Has this ever happen to you? Leave me a comment and tell me about it.
This prompted me to call that company and cancel the payment and get a refund which I was lucky able to do because I was just charged for this item a few days before.
Problem solved but even though I had stopped the payments I still had paid for the previous 5 months on something I can't get my money back from.
So this brings me to the point of today's article which is to help point out that just some little leaks in your budget can add up to a big problem.
This article is not about your income and expenses it's about the money that is left over after you pay off your debt and expenses.
Setting up a budget to save the ship from sinking.
In order to have financial security you to have stable income and track what you have and building a budget is the first step to that.
Here are the things you need to track.
Your income.
How much money does your family make in a given month.
For me, I just figured what I make in a week and times by 52 to get my net spending for a year then divide by 12 to get what I make a month.
Knowing this will be the basis of your budget because this will let you know how much you can actually spend in a given month.
Your debts.
How much money do you spend on your mortgage, car loans, and credit cards.
What are your payments and balances on all of your debts.
Your living expenses.
How much do you spend on your electric, gas, water, babysitter, food and don't forget spending cash.
What are your payments? This will give you a pretty good idea of what you are spending your money on.
Though when I did this I realized I had $1200 left in my budget at the end of the month.
Why did that money go? Tracking that left over money you have left after paying all debts and expenses needs to be tracked as well.
In the next few weeks I will be point out my progress on this as well and also showing you how you can stop this from happening to you as well.
Do you seem to have to much month and not enough money? Let me know how you are dealing with the situation and tracking your budget.
I opened it up and pulled out the statement.
The first thing I looked at was the balance.
Normally I just pay it and move on but this time I decide to actually read the statement thoroughly.
Everything looked normal until I got to the bottom of the statement and saw a charge for $98! I just realized that I was paying for something I didn't want.
Has this ever happen to you? Leave me a comment and tell me about it.
This prompted me to call that company and cancel the payment and get a refund which I was lucky able to do because I was just charged for this item a few days before.
Problem solved but even though I had stopped the payments I still had paid for the previous 5 months on something I can't get my money back from.
So this brings me to the point of today's article which is to help point out that just some little leaks in your budget can add up to a big problem.
This article is not about your income and expenses it's about the money that is left over after you pay off your debt and expenses.
Setting up a budget to save the ship from sinking.
In order to have financial security you to have stable income and track what you have and building a budget is the first step to that.
Here are the things you need to track.
Your income.
How much money does your family make in a given month.
For me, I just figured what I make in a week and times by 52 to get my net spending for a year then divide by 12 to get what I make a month.
Knowing this will be the basis of your budget because this will let you know how much you can actually spend in a given month.
Your debts.
How much money do you spend on your mortgage, car loans, and credit cards.
What are your payments and balances on all of your debts.
Your living expenses.
How much do you spend on your electric, gas, water, babysitter, food and don't forget spending cash.
What are your payments? This will give you a pretty good idea of what you are spending your money on.
Though when I did this I realized I had $1200 left in my budget at the end of the month.
Why did that money go? Tracking that left over money you have left after paying all debts and expenses needs to be tracked as well.
In the next few weeks I will be point out my progress on this as well and also showing you how you can stop this from happening to you as well.
Do you seem to have to much month and not enough money? Let me know how you are dealing with the situation and tracking your budget.
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