Like a lot of PF bloggers, I am all in favor of budgeting. As I previously wrote here and here, in order for your budget to work, you need to know how much you make and how much you spend. I will add you also need to be realistic. When trying to get your finances under …
Tag: budgeting
Creating a budget, part 2- tracking income and aiming for balance
Note: the following is primarily aimed for Canadian residents. Terms like CPP and EI are payroll deductions for Canada. It turns out tracking income is not always easy. “Income” is defined as salary, commissions and various types of payments. It is tangible. A future bonus or commission is not an income, as long as …
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Creating a budget, part 1- tracking expenses
A lot people try to create a monthly budget from scratch and are unsuccessful. In most cases the numbers don’t add up or don’t make sense. There are a few reasons to this, as most folks: Underestimate or overestimate how much they make Usually underestimate how much they spend Don’t know where their money is …
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