Subtract your total expenses from your

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Next, write down your expenses, breaking them down into fixed and variable expenses. Fixed expenses, such as mortgage or rent, insurance premiums, and loan payments, remain the same from month to month. Variable expenses include grocery shopping, dining out, sports betting on Florida teams, and other discretionary spending . Some people refer to fixed costs as "needs" and variable costs as "wants" because you have to pay for fixed costs and want but not necessarily need products and services that fall under the variable category.


Subtract your total expenses from your income to find your disposable income . benin whatsapp resource If this number is positive, you have surplus cash, but if it is negative, you have a deficit. Explore different budgeting methods Piggy Bank Dozens of budgeting methods exist. The best method for you is the one that fits your lifestyle and disposable income.


That said, three tried-and-true budgeting methods stand out. First, the 50/30/20 method is popular among budgeters. This rule divides your income into three categories: 50% for living needs, 30% for wants, and 20% for debt repayment and savings. Zero-based budgeting is another popular method that allocates every dollar you earn to a specific purpose. This method requires careful planning and tracking because your income minus your expenses should equal zero each month.