How to Make and Keep a Personal Budget
This is an article on how to make and keep a personal budget.
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Instructions
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Step 1) Making and keeping a personal budget is essential if money is tight. The first step in making and keeping a personal budget is writing down your TOTAL INCOME for each of the 12 months of the year.
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Step 2) The second step in making and keeping a personal budget is writing down your TOTAL EXPENSES for each of the 12 months of the year. Included in your monthly expenses are the following: mortgage (rent), car payment, cell phone, car insurance, health insurance, groceries, gas, repairs, education, etc. Make sure all your expenses are allocated to a specific category.
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Step 3) The third step in making and keeping a personal budget is actually KEEPING TO THE PERSONAL BUDGET. If you have allocated $150 this month to groceries, don't spend $500 on groceries this month. Keep to your allocated sum.
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Step 4) The fourth step in making and keeping a personal budget is learning how to DIVERSIFY STREAMS OF INCOME. Since times are tough for many people right now, having another revenue stream will help you keep to your personal budget in cases of overlap.
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Step 5) I hope this has been a helpful guide on how to make and keep to a personal budget. Good luck!
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