Start of the Journey
Originally posted on My Journey to Financial Freedom:
So it’s June 1st and it will be the first full month that I will be fully employed full-time. This means that I can start planning out my budget and trying to stick with it. I do have a method of my budgeting/planning process that I should explain.
This is how I make budget for the month:
1. Look at what my income will be in the up-coming month.
2. Decide what is a fixed expense and decide what variable expenses can be changed or adapted compared to the previous month.
3. From what I have left over from my income after subtracting my fixed expenses, I start dividing my income into my variable expenses.
4. I am a big proponent of paying myself first and ensuring that I have a buffer (emergency fund) in case something occurs that is outside my control.
5. Debt is a close second after…
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