Prepare and defend against a disaster


Do you need help with how to prepare a budget? Most of us do not want to admit it, but we do need help. Here is a budget that I set up for myself that will give you a good idea of ??how to prepare a budget.


Rent – $ 450 per month due on the 5th of each month

Car payment – $ 139 every two weeks or $ 295 per month

Electric bill – $ 40 a month (roughly) due on the 19th of every month

Gas bill – $ 59 a month (roughly) due on the 14th of each month

Car insurance – $ 158 a month due on the 20th of every month

Health insurance – $ 50 a month due on the 1st of every month

Gas – $ 55 a week or $ 240 a month

Food – $ 35 a week or $ 152 a month

Cable bill (including internet) – $ 80 a month due on the 25th of every month

Child Support – $ 75 a week or $ 325 a month

Car repairs – $ 50 a month

Oil changes – $ 10 a month

Haircut – $ 25 a month

Entertainment – $ 150 a month

Savings – $ 166 a month

Tithing $ 250

Now since I am a server and bartender I make cash on a regular basis and it is a bit hard for me to predict how much I am going to make each time I work. This budget is set up on a $ 2,500 take home income. This is considered a low income month for me and my bills that I have to estimate are high estimates.

This allows for some extra at the end of the month so that I can save more money and maybe buy something nice for myself. I stick to this with discipline and I use a system of envelopes. I have a bad habit of spending money if I know I have it so what I do is I allow myself a spending amount each week for little things.

This is usually around $ 15. Then, every night when I get home from work I take what I have earned and I put it into envelopes. I have one for each category. At the end of the week I make adjustments if I made more than planned for that week. Usually these adjustments are paying off a bill sooner than needed or saving more money.

By doing this I am able to stay within my budget and cover myself if a bad week does come into effect.

Now if you get paid by check, then you will have a much better idea of ??what you are going to make. I suggest that you set up your budget based on your average work week, if you do not get 40 hours, and if you work overtime only ever budget for 40 hours. Treat overtime as extra and save some of it, use some for entertainment, and save some more.

Preparing a budget is not hard, but you will have to be disciplined to stick to it. Learn how to prepare a budget and you will be very happy you did.


Source by Benjamin Robert Ehinger

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