by The Peblicite Firm | Sep 30, 2023 | Blog, Budgeting & Debt Payoff
Objective: Based on your current income and the amounts you calculated in previous activities, determine how much it costs you to live each month and semi-monthly You will need the total amount of your minimum debt payments, fixed expenses, choice...
by The Peblicite Firm | Sep 30, 2023 | Blog, Budgeting & Debt Payoff
Choice expenses” typically refer to discretionary spending items in a budget. These are expenses that are not essential for basic living but are optional and based on personal preferences and lifestyle choices. Choice expenses can vary widely from one...
by The Peblicite Firm | Sep 30, 2023 | Blog, Budgeting & Debt Payoff
Variable expenses in a budget are costs that can fluctuate from month to month and are not fixed amounts. Unlike fixed expenses (such as mortgage or rent payments, car payments, or insurance premiums) which remain constant, variable expenses can change based on your...
by The Peblicite Firm | Sep 30, 2023 | Blog, Budgeting & Debt Payoff
Fixed expenses in a budget are regular, predictable costs that remain relatively stable from month to month. These expenses are essential for maintaining your lifestyle and are usually consistent in their amounts. Examples of fixed expenses include: Housing...
by The Peblicite Firm | Sep 30, 2023 | Blog, Budgeting & Debt Payoff
Saving 5 to 10 percent of your net income each month is a common financial recommendation for several reasons: Emergency Fund: Saving a portion of your income ensures that you have money set aside for emergencies such as medical expenses, car repairs, or...
by The Peblicite Firm | Sep 30, 2023 | Blog, Budgeting & Debt Payoff
Differentiating between needs and wants in your personal budget is essential for effective financial management. Needs are essential for survival and maintaining a basic standard of living, while wants are items or services that enhance your quality of life but...
