17 Jul 1st response? One concept I took away from chapters 3 and 4 is the Budget 50/20/30.?50% take home pay to f
1st response
One concept I took away from chapters 3 and 4 is the Budget 50/20/30. 50% take home pay to fixed /variable monthly expenses. 20% to savings/401k/emergency fund/travel. 30% of take home to fun and miscellaneous.
I budget the first of the year every year. I first put in my fixed bills, estimate my variables such as groceries and gas. I have also tried to practice the ten percent of your net pay to savings, but I am not always successful. What I do find that I am successful at is planning a big purchase or a vacation. I review the amount I will need by a certain time to secure airline tickets, lodging, and car rentals. I then will review the amounts I will need to have ready by time of the trip such as remaining amounts due, fun excursions, spending money, and meals. This will tell me the amount of money I need to take out each month by the amount of months/dollar amounts.
I find a program I use through my bank will analyze my monthly statement. I can review the variances to tell me whether I need to cut back a little in certain areas or I have extra to go toward savings or maybe put toward a bill.
2nd
There are a number of concepts from Chapters 3 and 4 that are important to my personal finances. One of the concepts that I found most important was creating a budget. Creating a budget allows me to identify what my needs are and helps me control my spending and saving accordingly. I wanted to know more about this because it forced me to create a budget of my own. To be honest I have never created a budget so this was a very eye opening experience and task for me.
Creating a budget was actually a huge learning experience for me. Believe it or not I never created a budget before and saying that sounds extremely irresponsible and crazy to me. I do not how I've functioned as an adult without one. I have hopes that after creating a budget for myself this week I will be able to start implementing it.
After creating my budget, I started to take a dive into identifying my budget variances. Our textbook advised us on creating an excel sheet. I decided to start off doing it manually alongside my budget plan sheet. The benefit to tracking budget variances is to help stay me stay on budget and eliminate careless spending.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteEdu. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
Do you need help with this question?
Get assignment help from WriteEdu.com Paper Writing Website and forget about your problems.
WriteEdu provides custom & cheap essay writing 100% original, plagiarism free essays, assignments & dissertations.
With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Chat with us today! We are always waiting to answer all your questions.