Category: My Cash Flow System Steps
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10 Easy Steps For Budgeting Recurring Expenses
Recurring expenses are also known as fixed expenses. They can be paid monthly like utilities or be a periodic expense like car insurance. Here are 10 easy steps on how to budget for your recurring and periodic expenses.
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How to Calculate Your Monthly Recurring Expenses
Recurring expenses are also referred to as fixed expenses. I prefer recurring vs. fixed as you do have some control on ‘fixed’ amount you will pay each month.
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How to Manage and Track Your Discretionary Expenses
Discretionary expenses are items such as; groceries, dining out, entertainment, gas, Uber, and other expenses that you did not fund as a fixed expense.
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How to Manage and Track Your Credit Cards Monthly
When purchasing an item by credit card, If you don’t know how your are going to pay for the item you when the payment is due, then you can’t afford it!
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Calculate And Compare Your Net Worth Frequently
Just like a report card or employee performance review a personal balance sheet measures your financial performance.
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How To Maximize Your Pre-Tax Benefit Accounts Deductions
Taking advantage of pre-tax deductions is not only a great way to save on taxes but also a great way to help you manage your monthly spending.
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Make The Funding and Paying Of Your Recurring Expenses Automatic
In my system, you automate the actual transfer of your recurring expenses, per pay, into a separate bank account and also automate your recurring bill payments from this account.