Household Budget Management Michigan

Making a realistic budget is a cornerstone to building a good financial foundation for you and your family. It really doesn't have to be too detailed or restrictive, though you do have to make some tough decisions on how you spend your money.

Local Companies

Raymond James & Associated
(989)837-6558
Dijak Wealth Management Group - Tim Dijak
Midland, MI
Back On Track Credit Repair
(866) 824-9427
8838 E. 34 ROAD
Cadillac, MI
Pro Energy Consultants
517-206-7033
3167 rockingham way
Jackson, MI
Kathryn M Schram - State Farm Insurance
586-949-9555
: 48875 Gratiot Ave
Chesterfield, MI
CamNet Financial Solutions
616 644-1827
232 Arbor Dr NE
Rockford, MI
Gem Commercial Credit, Inc.
248-477-2170
34026 Navin Ave
Livonia, MI
MichiganHealthBroker, INC
586-604-9669
14859 Durussel
Sterling Heights, MI
Independent Wealth Management
231-929-1086 x1005
236 1/2 E. Front St.
Traverse City, MI
PATRIOTIC TAX SERVICE
(989) 252-0770
330 S Washington Ave.
Saginaw, MI
Wells Insurance Agency
231-947-1610
2301 Garfield Rd N
Traverse City, MI

Follow the Money

Making a realistic budget is a cornerstone to building a good financial foundation for you and your family. It really doesn't have to be too detailed or restrictive, though you do have to make some tough decisions on how you spend your money.

  1. You need to know what your total annual income is, so list your income sources and total them. Generally most of us have a regular paycheck and your pay stubs tell you what your "total to date" income is for the year. Your IRS W-2 form from the previous year will also give you your gross earnings for one year. Check your income tax filing from the previous year and this should list other sources of income you had for a year, such as interest earned, stock sales, profit or loss from a business, etc.
  2. Divide your income sources into two categories -- regular income and variable income.
    • Regular income will list the wages or salaries earned on a regular basis each month. (This is your gross wages or salaries before taxes.)
    • Variable income is basically those items that generate income, but are not consistent in the amounts you earn on a month to month basis, such as money earned from stock sales, real estate sales, part time business, etc.
  3. Total all your annual expenses items.
  4. Divide your total expenses into two categories: fixed expenses and variable expenses for the year.

    Fixed expenses are those items which we have to pay every month (even though some of these amounts will vary, such as utilities, they still have to paid every month). Examples of fixed items would be rent or house payment, food, loan payments, transportation cost (especially fuel), monthly parking fees, insurance premiums, federal and state tax withholdings, and utilities, as mentioned earlier.

    Variable expenses are tough items to list. There are so many things we spend money on, on a daily basis, that it is difficult to itemize. Things like lattes, parking fees, smokes (if you smoke), donations for charities, etc. Make this list AFTER you have made your fixed expense list and have a figure for total FIXED income minus fixed expenses. An example might be:

    Fixed Income items Annual totals
    Wages or salaries $50,000
    Less Fixed Expense items -$35,000
    Total income remaining for variable expenses and savings $15,000...

Click here to read the rest of the article at HowToDoThings.com

Author: Ron Ambler

Featured Local Company

Raymond James & Associated

(989)837-6558
Dijak Wealth Management Group - Tim Dijak
Midland, MI

Regional Articles
- Household Budget Management Adrian MI
- Household Budget Management Allegan MI
- Household Budget Management Allen Park MI
- Household Budget Management Alpena MI
- Household Budget Management Ann Arbor MI
- Household Budget Management Auburn Hills MI
- Household Budget Management Battle Creek MI
- Household Budget Management Bay City MI
- Household Budget Management Belleville MI
- Household Budget Management Benton Harbor MI
- Household Budget Management Berkley MI
- Household Budget Management Big Rapids MI
- Household Budget Management Bloomfield Hills MI
- Household Budget Management Brighton MI
- Household Budget Management Burton MI
- Household Budget Management Cadillac MI
- Household Budget Management Canton MI
- Household Budget Management Cheboygan MI
- Household Budget Management Clarkston MI
- Household Budget Management Clinton Township MI
- Household Budget Management Clio MI
- Household Budget Management Coldwater MI
- Household Budget Management Commerce Township MI
- Household Budget Management Comstock Park MI
- Household Budget Management Davison MI
- Household Budget Management Dearborn Heights MI
- Household Budget Management Dearborn MI
- Household Budget Management Detroit MI
- Household Budget Management Dowagiac MI
- Household Budget Management East Lansing MI
- Household Budget Management Eastpointe MI
- Household Budget Management Eaton Rapids MI
- Household Budget Management Escanaba MI
- Household Budget Management Farmington MI
- Household Budget Management Fenton MI
- Household Budget Management Ferndale MI
- Household Budget Management Flat Rock MI
- Household Budget Management Flint MI
- Household Budget Management Flushing MI
- Household Budget Management Fort Gratiot MI
- Household Budget Management Fraser MI
- Household Budget Management Garden City MI
- Household Budget Management Gaylord MI
- Household Budget Management Gladwin MI
- Household Budget Management Grand Blanc MI
- Household Budget Management Grand Haven MI
- Household Budget Management Grand Ledge MI
- Household Budget Management Grand Rapids MI
- Household Budget Management Grandville MI
- Household Budget Management Grosse Pointe MI
- Household Budget Management Hamtramck MI
- Household Budget Management Harper Woods MI
- Household Budget Management Harrison Township MI
- Household Budget Management Hazel Park MI
- Household Budget Management Highland Park MI
- Household Budget Management Hillsdale MI
- Household Budget Management Holland MI
- Household Budget Management Holly MI
- Household Budget Management Holt MI
- Household Budget Management Howell MI
- Household Budget Management Hudsonville MI
- Household Budget Management Inkster MI
- Household Budget Management Ionia MI
- Household Budget Management Jackson MI
- Household Budget Management Jenison MI
- Household Budget Management Kalamazoo MI
- Household Budget Management Lake Orion MI
- Household Budget Management Lansing MI
- Household Budget Management Lapeer MI
- Household Budget Management Lincoln Park MI
- Household Budget Management Livonia MI
- Household Budget Management Ludington MI
- Household Budget Management Macomb MI
- Household Budget Management Marquette MI
- Household Budget Management Midland MI
- Household Budget Management Monroe MI
- Household Budget Management Mount Clemens MI
- Household Budget Management Mount Morris MI
- Household Budget Management Mount Pleasant MI
- Household Budget Management Muskegon MI
- Household Budget Management New Baltimore MI
- Household Budget Management Niles MI
- Household Budget Management Northville MI
- Household Budget Management Novi MI
- Household Budget Management Oak Park MI
- Household Budget Management Okemos MI
- Household Budget Management Owosso MI
- Household Budget Management Petoskey MI
- Household Budget Management Pinckney MI
- Household Budget Management Plymouth MI
- Household Budget Management Pontiac MI
- Household Budget Management Port Huron MI
- Household Budget Management Portage MI
- Household Budget Management Redford MI
- Household Budget Management Rochester MI
- Household Budget Management Rockford MI
- Household Budget Management Romulus MI
- Household Budget Management Roseville MI
- Household Budget Management Royal Oak MI
- Household Budget Management Saginaw MI
- Household Budget Management Saint Clair Shores MI
- Household Budget Management Saint Johns MI
- Household Budget Management Saline MI
- Household Budget Management Sault Sainte Marie MI
- Household Budget Management South Haven MI
- Household Budget Management South Lyon MI
- Household Budget Management Southfield MI
- Household Budget Management Southgate MI
- Household Budget Management Sterling Heights MI
- Household Budget Management Sturgis MI
- Household Budget Management Swartz Creek MI
- Household Budget Management Taylor MI
- Household Budget Management Temperance MI
- Household Budget Management Three Rivers MI
- Household Budget Management Traverse City MI
- Household Budget Management Trenton MI
- Household Budget Management Troy MI
- Household Budget Management Utica MI
- Household Budget Management Walled Lake MI
- Household Budget Management Warren MI
- Household Budget Management Waterford MI
- Household Budget Management West Bloomfield MI
- Household Budget Management Westland MI
- Household Budget Management White Lake MI
- Household Budget Management Wixom MI
- Household Budget Management Wyandotte MI
- Household Budget Management Wyoming MI
- Household Budget Management Ypsilanti MI
- Household Budget Management Zeeland MI
Related Articles

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History