raaman
Valued Contributor
Financial planning for the whole year.
Financial planning for the whole year is always good. In this way, you can learn to manage your hard earned money and meet your goals. A good and simple habit that you can adopt at the beginning of the year is to plan your finances for the year as whole. This will enable you to decide how you can spend your income each month of the year based on the amount that will be available to you each month.
Expense planner:
You can take into account the following elements and from them you can plan your expenses according to your income level. Consider that it is an approximation exercise that will allow you to form a habit and a financial discipline to manage your hard earned money and meet your goals.
Fixed income: They are received constantly and periodically like salary, pension, or money provided by parents and remittances.
Variable income: You may or may not receive this variable income that comprises profit sharing, bonus, dividends etc.
Fixed costs: Fixed costs are those that remain constant like food, transport, tuition fees, and previously acquired debts like credit card payment, mortgage loan, and insurance, among others.
Variable expenses: They change according to the tastes and activities of each person and comprises clothes and shoes, medical expenses occasional and unforeseen expenses.
You need to gather receipts, account statements, purchase receipts, among others, to fill out the expense planner.
Financial planning for the whole year is always good. In this way, you can learn to manage your hard earned money and meet your goals. A good and simple habit that you can adopt at the beginning of the year is to plan your finances for the year as whole. This will enable you to decide how you can spend your income each month of the year based on the amount that will be available to you each month.
Expense planner:
You can take into account the following elements and from them you can plan your expenses according to your income level. Consider that it is an approximation exercise that will allow you to form a habit and a financial discipline to manage your hard earned money and meet your goals.
Fixed income: They are received constantly and periodically like salary, pension, or money provided by parents and remittances.
Variable income: You may or may not receive this variable income that comprises profit sharing, bonus, dividends etc.
Fixed costs: Fixed costs are those that remain constant like food, transport, tuition fees, and previously acquired debts like credit card payment, mortgage loan, and insurance, among others.
Variable expenses: They change according to the tastes and activities of each person and comprises clothes and shoes, medical expenses occasional and unforeseen expenses.
You need to gather receipts, account statements, purchase receipts, among others, to fill out the expense planner.
