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The most important step in moving towards financial freedom is setting your budget each month and it is so simple. 1. Know your income - know every penny you have coming in from wages, side hustles and benefits 2. Account for all fixed expenses - make sure you know every penny that is going on bills (household bills, subscriptions, insurance plans etc) 3. Debt payments and online savings - make these payments as soon as your income comes in. That way they are covered and you aren’t trying to find the money later in the month 4. Variable spending - allocate the amount of money you want to spend on things like food shopping, petrol, personal spending etc 5. Sinking funds - once all of the above are covered, allocate the remaining amount to sinking funds (holiday spending, Christmas, birthdays, car funds etc) #cashstuffingmethod #budgetbinders #cashstuffingsystem #cashstuffingenvelopes #cashenvelopes #savingchallenge #budgeting #budgets #sinkingfunds #monthlybudgeting #cashstuffinguk #budgetswithbeth #cashstuffing #budget #cashbudgeting #cash
Duration: 62 sPosted : Sat, 30 Mar 2024 07:18:19Views
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