BUDGET Having a thorough monthly budget is a sustainable way to successfully succeed with your small business or personal life. The goal is to use THIS months income to pay for NEXT months expenses, debt free. Using this Excel Spreadsheet, fill out all of your monthly expenses. This will get you started but be as thorough as possible. Your goal is to zero-out your profit/loss, giving every dollar you make a place to before the month. That might mean paying your debt down, adding to your savings or investing as much as you can; to let that money make you money. Every month, before the month starts, you should make a budget and review it with your partner, (if applicable) and then agree to only spend what you have budgeted for that month. Remember, this is just a guidline and each person has a different financial situation. My wife and I have stuck to using the 'envelope system' which is using cash (not plastic) to day-to-day expenses, so we don't spend outside of our budgeted amount. If the envelope is enpty, we don't get it. If it is full, we can do it! If you have any questions or would like direction, please feel free to contact me.
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