Kristin Fink September 29, 2020 Budget
Many people would love to simplify their budgeting process. However, since many cannot use the Excel worksheet, there has been a desire to have an easily available and user friendly budgeting spreadsheet that would enable you budget with ease. Many versions of these spreadsheets are available and can easily be used with Microsoft Office such as Excel hence making it easy for many people.
One of the most important questions you can ask yourself before securing a loan or making an investment is whether or not you are in a position to take on such financial responsibility. Many consumers consider taking out a loan or investing without first being honest with themselves regarding their existing finances - which could land them in financial trouble later on. So it is vital to consider all the aspects - from your current income to your current outgoings - before making a big decision like securing a loan or investing your money.
Work out your total income for a set period of time, usually a week or month, and then subtract your expenditure for that time period. This helps you to work out if you have a shortfall or spare money and from there you can work out what action you need to take, whether it is to cut costs or to save more.
These days we all have to keep a tight rein on our household expenses. One of the best ways to keep control of your finances is to use a budget calculator. This will help you see where your money is going and where you may be able to make savings.
However, even if a budget calculator reveals that you have surplus funds each month, you should not necessarily assume a loan or investment venture is right for you. For instance, if you are left with surplus money each month, but you do not have a savings, you might want to consider putting your money towards a savings rather than an investment. It is usually a good idea to put some money aside, just in case you suddenly need it. After all, you never know when a financial situation can take you by surprise.
The pertinent question would be where to find these financial planners. The Internet offers a vast resource to search for a financial planner suited for your needs. Financial planners vary in line with which debt management requirements. There are calculators tailored to help individuals track their credit card payoffs, student loan payments, home expenditures, compound interests and personal debt consolidations. When searching for a financial planner look for one structured to help you calculate your expenditure requirements.