Have you considered a personal budget?

[Holicent]

When you're just starting out, it can be hard to keep track of your spending. You might not know what's actually going on in your life and how much money is getting spent. The first step to creating a personal budget is to determine how much money you need each month. This can be done by setting aside funds for your expenses from each paycheck, or by adding up all of your monthly bills and expenses to figure out your need in order to live well.

Once you have determined how much money you need each month, you can create a budget that will help you stick to your spending plan. By creating a budget and sticking to it, you will be able to monitor your spending habits and make adjustments when necessary. Create a personal budget and stick to it!

 

[Jasz]

You can't control what other people spend, but you can control how much money you have each month. You'll need to figure out the basics of your budget, what you're going to spend on food, rent and transportation; and put that into a spreadsheet. Then log all your expenses for one month, including all those pesky little things like coffee drinks and lunches at work, so you can see where you're spending too much money. Once you know where your money is going each month, create a plan of attack for getting back on track.

Start with simple changes: If you only have $100 in your checking account each month, start by paying down debt or saving up emergency savings. Then work on making more changes over time, like earning more income or cutting down on unnecessary expenses, until you're able to save up some extra cash.

 

[moolahmore]

The app that helps you create and stick to your personal budget. The service has been designed specifically with millennials in mind. It has a clean interface and a user-friendly process that makes it easy to use, even for those who are new to the world of budgeting.

 

[Suba]

In my opinion, your way of preparing a personal budget is incomplete from my point of view as an accountant. Here I will give a brief guide, first record all your sources of income and arrange them according to level as the main source, for example salary, second source of property rental results, third from online income, etc. Second, record all your expenses and arrange them according to the level of need for example basic needs every month, second or secondary needs, such as buying a new smartphone, changing a new car, entertainment etc. Also you need to note the level of third or tertiary needs such as buying a luxury car, vacation abroad etc. (of course not worth noting if you don't have second and third income and expenses). Third, compare your income and expenses each month. which one is bigger. Get rid of unnecessary expenses, and you will get a minimum monthly expenditure that will be used as the basis for budgeting expenses. You can save the difference between your total income and minimum expenses for certain purposes, such as investing or studying. Every month you need corrections and comparisons between the budget and actual expenses, if there is a change in prices or inflation you need a budget adjustment. No need to hesitate or feel free if you have questions ask in the comments column.

 

[Mika]

I am a freelancer and I don't have a fixed monthly income. In some months I will be at a financial loss because I cannot pay my entire bills, and I have to use my savings, however, in some months I make a good amount, which allows me not only to pay my bills but also save some money and invest money. I make use of budgeting to help my finances. I make an estimation of my monthly earning projections and then estimated expenses. When the month ends I try to tally whether my projections and estimation fit or not. For the next month's budget, I make adjustments accordingly. I also try to budget according to 50/30/20 rule, where 50 percent of my income is for much-needed expenses, 30 percent for my wants and wishes, and the remaining for investment and saving. Sometimes my entire budget for wants and wishes go into saving and investment.