Proper Budgeting
Cameron Smith

How to properly make a finanical plan to help mainain a positive financial footing

When balancing a life at home and work it is important to make and maintain a budget to help  keep track of where money is being spent, how much is being spent and where money can be saved.

Step 1: Expenses

The first step of making a budget is making a list or record of all the things someone spends money on in that given period. The list needs to be carefully recorded and monitored so the budget can be as accurate as possible  

Step 2: Earnings

The next step is making an accurate statement on how much money is earned in the same time period. This figure will help someone compare how much money they are earning versus how much they are spending so they know whether they have a surplus or deficit.

Step 3: Recording and Monitoring

After all the data is collected it needs to be reviewed and monitored over time so one can know if they are wisely spending their money or if they are wasting money and what the money is squandered on.


Some people plan ahead and have a surplus of cash after they have shelled out for all their expenses. It may seem like just a little extra shopping money but it would be wiser to save the money for hard times. Medical bills, emergency repairs, and accidents spring up every day and can be expensive so it is always wise to have a little extra cash stored away so one doesn't need to take money from another necessity to pay for a current issue.

Careful Monitoring

While budgets can be a helpful tool as to maintaining a healthy financial standing, it is totally useless if it isn't monitored and updated. Expenses and income change constantly so a well maintained budget will too.

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