A Simple Budget
Start a Simple Budget and Plan For Retirement
By Jack Landry
Sep 15, 2011
A simple budget can help you reach your financial goals sooner with less stress and worry.
A budget is a plan you put together to track the flow of money into and out of your life.
The idea is to find where your money flows out, plug the expensive leaks, and save more inflowing cash for yourself every month. A basic budget can also expose the sneaky spending habits you're not aware of and help you plan where to best spend your hard-earned dollars.
Making a budget is simple and can be done in three easy steps. First, add up your income.
Counting your cash inflow is a fun first step. Your monthly income is earned as salary or wages from an employer.
If you have investments, then you may be earning income from dividends, …show more content…
Your other retirement plans should cover the majority of your expenses.
Social Security has also not had any cost of living adjustments for the past two years. If the whispers going around Washington are anything to go by, you should not depend on Social Security to sustain the majority of your expenses in your budget.
Always have a back-up plan just in case there is a worst-case scenario when you plan your retirement budget.
Before you retire, you need to check to see what your employer's retirement plan will actually pay you on a monthly basis. For instance, you might count on receiving a certain amount of money per month.
However, after deductions, including health insurance are taken from your check, you can be left with less than you originally thought.Before you retire, be sure to have all of your facts straight.
Know exactly how much income you will have as well as what expenses so that you can figure out your long-term retirement budget. You want to enjoy your golden years, but planning ahead and using a budget, you can reap the rewards from you years of
By Jack Landry
Sep 15, 2011
A simple budget can help you reach your financial goals sooner with less stress and worry.
A budget is a plan you put together to track the flow of money into and out of your life.
The idea is to find where your money flows out, plug the expensive leaks, and save more inflowing cash for yourself every month. A basic budget can also expose the sneaky spending habits you're not aware of and help you plan where to best spend your hard-earned dollars.
Making a budget is simple and can be done in three easy steps. First, add up your income.
Counting your cash inflow is a fun first step. Your monthly income is earned as salary or wages from an employer.
If you have investments, then you may be earning income from dividends, …show more content…
Your other retirement plans should cover the majority of your expenses.
Social Security has also not had any cost of living adjustments for the past two years. If the whispers going around Washington are anything to go by, you should not depend on Social Security to sustain the majority of your expenses in your budget.
Always have a back-up plan just in case there is a worst-case scenario when you plan your retirement budget.
Before you retire, you need to check to see what your employer's retirement plan will actually pay you on a monthly basis. For instance, you might count on receiving a certain amount of money per month.
However, after deductions, including health insurance are taken from your check, you can be left with less than you originally thought.Before you retire, be sure to have all of your facts straight.
Know exactly how much income you will have as well as what expenses so that you can figure out your long-term retirement budget. You want to enjoy your golden years, but planning ahead and using a budget, you can reap the rewards from you years of