The turn of the year is the perfect time to make many important decisions. Cut-off dates such as New Year’s Eve help us illustrate the goal that we will strive for next year.
Some start eating healthy, going to the gym, others decide that they will develop professionally. There are plenty of examples. And maybe among them he will find a strong resolution to rebuild the household budget? Check out tips on regaining control of your money and plan your budget for 2018!
Each company wanting to optimize its financial liquidity begins with an analysis of expenses and costs. We should do the same. An analysis of the home budget will really allow us to estimate our income, fixed monthly costs and will also help to find weaknesses in managing the financial portfolio. What’s the easiest way to analyze your budget?
Take a pen, prepare a card and calculator or just sit in front of the computer, turn on a spreadsheet or other application and plan the budget for 2018. It depends on you what tool you will use to analyze the inflows and expenses in your home budget. It is important to carefully prepare the necessary statement.
Enter the monthly family income. Then go to fixed costs such as gas, electricity, television, telephone, internet, water, death bills etc. If you make all payments via electronic transfer, it will be much easier to write down the expenses. Enter the transaction history on your bank account or check the request for permanent transfers, and then note the recurring fees. Then it is worth analyzing other expenses, creating the appropriate categories – shopping, fuel, emergency repairs, entertainment, other. Only a thorough analysis of our current finances will allow us to optimize our money later.
Check how to motivate yourself to change your financial habits in the new year?
We have already estimated our monthly income. After taking into account all costs, we know how much we can save or how much money we will save for other expenses. The beginning of the new year is the perfect time to plan the budget for the whole year.
It is worth analyzing the more important fees that await us in the coming 2018. Renovation, wedding reception, other family events, trip, long journey, building a house, buying a car? During the year there will be many situations that hit us hard in the pocket. That is why it is worth preparing in advance for the upcoming expenses so that nothing surprises us.