Creating a budget and sticking to it is a critical activity that we al

Creating a budget and sticking to it is a critical activity that
we al

Creating a budget and sticking to it is a critical activity that
we all need to do in order to be fiscally responsible. In this
assignment, you will create your own monthly, four-step budget.
The four steps to create the budget are as follows:
List your monthly income. If you receive one-time payments
periodically during the year, be sure to average those out and
include them in your monthly income total. List your monthly
expenses. This can be the hard part because most of us do not look
at past utility bills, credit card payments, house and car
payments, etc. In this total, try to include a monthly estimate
that incorporates averaged-out, once-per-year expenses (like
purchasing Christmas presents). Subtract your total expenses from
your total income. This will be your monthly cash flow. From this,
seriously consider setting aside some for savings. Lastly, adjust
your budget. The hardest part can be making sure that you include
all income and expenses that you have. You may use a Microsoft
Excel spreadsheet to create your budget.