Terms and Things to be aware of before You dive into creating a Budget
Budgets are snapshots of your money RECEIVED and SPENT. When you fill out your Budget, it will give you a number amount of what’s left over for the month. To make the most accurate and inclusive budget you need to have a complete understanding and record of your money RECEIVED and SPENT for an entire month.
This is why tracking your money is so important. You can’t create a budget without knowing what you’re spending your money on each month.
When you’re ready to make your budget you will need a few things.
All money received, this is your paychecks for the month, or any other money received- these will become your INCOME for the month
The list of all the items you’ve spent your money on for the month - these will become your EXPENSES for the month
A calculator (to add up the totals of both income and expenses) if you don’t own one, no worries, I’ve attached a link to an online calculator.
Deep Breaths - Money, budgeting and math can all become stressful to deal with, make sure to take things slow and take some breaths in between
If at any point you need Help, or want someone to talk you through, call or email Bri Stoebe to set up a meeting or stop into our Office
Office: 270-753-0317
Email: bstoebe@mccunitedway.org
Location: 607 Poplar Street, Suite F Murray, KY 42071