- Get your budget under control in 3 easy steps
- Types of budgets you can follow to get your spending under control
- Budgeting apps to help you stay on track
- Pros and cons of budgeting
- The bottom line
Get your budget under control in 3 easy steps
Step 1: Figure out your net income
- Paid twice a month. Simply add up the two paycheck amounts (post-tax) you receive during the month to calculate your net income.
- Paid every other week. Multiply your paycheck amount (post-tax) by two to get your net income. Keep in mind, you’ll be paid three times in one month twice a year. Figure out which months this will happen in and multiply your paycheck amount these months by three instead of two.
- Paid weekly. Multiply your paycheck amount (post-tax) by four.
Step 2: Determine your monthly expenses
- Rent or mortgage payment
- Cell phone and internet bills
- Medical bills
- Student loans
- Other loans
- Credit card payments (minimums)
- Gas/transportation costs
Step 3: Track your spending
Types of budgets you can follow to get your spending under control
The 50/30/20 budgeting strategy
|Utilities (gas, electric, and water)||$240|
|Credit Card Debt||$120|
Separate bank accounts
Budgeting apps to help you stay on track
Mint - best overall
You Need a Budget - best for zero-based budgeting
PocketGuard - best for overspenders
mvelopes - best for envelope system fans
Pros and cons of budgeting
Insight into where your money is going
Ability to maintain savings
Might encourage overspending
The bottom line
Reclaim Up to $610/Year in Car Insurance
Here’s the thing: your current car insurance company is probably overcharging you. But, who has the time to look around for around a new company?
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Using CarInsurance.net, people have saved up to $610 a year.
It takes just a few minutes to see how much CarInsurance.net could put back in your pocket. And the best part? Because we’re driving less, some insurers are slashing prices this month.