Let's Get Personal with Money

Money to me is the significance of freedom. If done right, it allows you to do things on your terms most of the time.  If done wrong, you will be doing things on other people's term most of the time.  Money is something that we all come by throughout our lives by either having it given to us or working for it. But the question is what do we do with the money that comes in our possession?  Do you live by a budget?

Budgeting is simply a plan for your money.  Before you actually receive it, you should already know what you are going to do with it.  You need to learn how to budget/plan so that you can be able to save, pay your bills, give and be able to meet your future needs and goals.

*Income - Money received through work, goods or services provided.          (Non-earned income. This can include anyone with fixed income such as disability, social security, etc.)

*Budget - Electronic or written to explain the amount of money you have and how you plan to spend it.

*Budget Categories - Net Dollar amount minus (Emergency Fund, Savings, Rent/Mortgage, Renter's/Homeowner's Insurance, Electric,Gas, Phone, Trash, Cable, Internet, Groceries, Restaurants, Car Payment, Car Insurance, Fuel, Health Insurance, Life Insurance, Doctor appointment co-pays, Childcare, Toiletries/Cosmetics, School Tuition, School Supplies, Clothing, Subscriptions, Entertainment, Vacation, Gifts, any debt related expenses etc.)

*Fixed Expenses - Are some of the categories above that does not change from period to period. (Ex: Rent, mortgage, utility bills, etc.)

*Variable Expenses - Those categories where the expense amounts are fluid or always changing. (Ex: Entertainment, Gifts, Eating out, Childcare, subscriptions, Food, Fuel, etc.)

In conclusion, whether you get paid, weekly, biweekly, monthly you should have a plan for your money.  Remember, budgeting is as simple as 1-2-3,

Total Net Income - Total Expenses = Total Net Income After Expenses.