How To

How to Set Up a Living Budget

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By Sabah Karimi
eHow Contributing Writer
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Instructions

    Determine Your Gross Monthly Income

  1. What you'll have to do is carefully figure out (as exactly as possible) how much money you have rolling in each month. To do this, think of every single way you make money. Here's a list of possibilities to think about:

    * Net paycheck (meaning, "after taxes") from full-time job
    * Self-employment income
    * Part-time income
    * Freelance income
    * Overtime wages
    * Social Security benefits
    * Disability or Worker's Compensation payments
    * Allowance from parents
    * Birthday checks from grandma (hooray!)
    * Child support or alimony you receive
    * Coins tossed at you when playing ukulele on street (weirdo)
    * Bonuses
    * Interest from savings

    Here's what professionals say you should focus on:

    * Paycheck from full-time job - some experts say to use your gross (pre-tax) salary, but if your deductions are pretty much the same each week, use the net (post-tax) - it makes the calculation a lot simpler.
    * Part-time income
    * Self-employment income
    * Allowance from parents
    * Social security, pension and child support or alimony
    * Interest from savings

Comments  

dhoni said

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on 7/5/2009 The Indian Union Budget 2009-10 has been presented in the parliament today by finance minister Mr.Pranab Mukherjee. Get all updates & highlights on sify.com
http://sify.com/finance/budget/
http://sify.com/finance/budget/

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