Create a budget worksheet with all the line items mentioned below for each month. Using the table at the end of this document.Your income is fixed.So you will need to make choices on your spending.
Remember to take yearly amounts and divide them by 12 in order to get monthly figures.Your goal for this exercise: avoid a negative balance for the month and have something allocated to savings. Scenario:
You graduated from college in June.It is six months later and you’ve traveled, visited friends, blown through your summer income, moved back in with your parents/guardians and you and your family are getting on each other’s nerves. Now it is time for the “real world.” Good news: You’ve got your own place.
It’s in Chicago and your address is 800 Halstead Street Chicago, IL 60607. You love it – it has history and you love the Cubbies. Bad News: You’ve got to work to pay for your expenses. You are on your own. Below are all the budget categories and choices you need to account for over the next twelve months. You must stay in the budget. No assuming wealthy relatives or lottery winnings.
