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Money Matters Lesson 4 Budgeting Monthly Budget Prepares a personal budget for November. Consider the following. Current Savings: $47.90Pocket money is paid each Saturday. Your allowance per week
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How to fill out my monthly budget
01
Start by listing all your sources of income for the month, such as salary, freelance work, or any other form of income.
02
Next, make a list of all your fixed expenses that need to be paid every month, such as rent/mortgage, utilities, insurance, and loan payments.
03
Take into account variable expenses like groceries, transportation costs, dining out, entertainment, subscriptions, etc.
04
Deduct your expenses from your income to calculate how much money you have leftover for saving or additional expenses.
05
If you have a surplus, consider allocating it towards savings or investment plans.
06
If you have a deficit, look for areas where you can cut expenses or consider ways to increase your income.
07
Regularly review your budget and make adjustments as necessary to ensure financial stability.
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Anyone who wants to have a clear understanding of their financial situation and make better financial decisions.
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Individuals who want to track their spending and control their expenses.
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What is my monthly budget?
Your monthly budget is the amount of money you have allocated for expenses and savings for a particular month.
Who is required to file my monthly budget?
You are required to file your own monthly budget.
How to fill out my monthly budget?
You can fill out your monthly budget by listing all your sources of income and expenses, and then calculating the difference to determine how much you can save or spend.
What is the purpose of my monthly budget?
The purpose of your monthly budget is to help you track your spending, make informed financial decisions, and reach your savings goals.
What information must be reported on my monthly budget?
You must report all sources of income, such as salaries and bonuses, and all expenses, such as rent, utilities, and groceries.
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