Establishing and following a budget helps your family meet daily needs while preparing for the future. It enables your family to get more for its money and keeps you out of debt. The percentage breakdown for budget expenses recommended by various economic advisers recommends the maximum amount you...
Then, use 30 percent of your after-tax income for all of your wants, including entertainment, vacations and gifts. Eating out and clothing are also in this category. The final 20 percent of the budget goes to savings and debt repayment. If credit card bills are paid in full every month,...
Let’s say you’re well on your way to achieving this goal, or already have, and perhaps have added an annuity to the mix so that some of your income is guaranteed for life. An important consideration is still probably missing. Have you determined whether your retirement assets are enough...
it appears that food has been squeezed by other “needs” like shelter, transportation, and healthcare which now take up a much larger portion of our budget. Here is a more complete spending breakdown from thisNPR article.
but I learned how to stick to a budget. If I was able to build wealth, then most people should as well. It takes discipline to avoid the allure of high priced luxury cars and that $500k house. Too many people fall into that trap and join the category of “All hat and no cattle,...
The first computation of the income statement starts with the gross profit which is used to determine the operating income. The operating income further accounts for the non-operating expenses to determine the net income which is the last computation of the income statement....
Calculating percentage is useful in many areas of life, whether it is restaurant tipping, reseller commission, your income tax or interest rate. Say, you've been lucky enough to get a 25% off promotion code on a new plasma TV. Is this a good deal? And how much will you eventually hav...