Lemic
simulacrum
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Upon reading this You niggas will be lauded for the adept skills you will have acquired when finished.
I will be using euros and dollars for the sake of this thread.
Money is vaguer topic of discussion on this forum but still important nontheless. As of writing this, I'm learning with you thus I'm not thoroughly educated on the topic, this is a rough methodology on how to go about allocating your finances. Budgets are not universally exclusive, they are not a one size fits all system so this guide will vary by dependence of your income, location, family status, goals, lifestyle.
Examples include
1.Fixed Expenses which don't change
2.Variable Expenses: which vary by day or price
Below is an Example of an average budget for 35hrs wagecucks.
Im going to use a Zero Based Budget meaning Income Minus Expenses should = 0
If you make 5k a month all money that comes in saved, invested or spent should add up to 5k. Thus, every bill has a purpose. This doesn't mean you've got 0 in your bank account just that income-expenses =0
Example of a Budget using a monthly net pay of €1,600 / $1,854.08 per month. with an approximation of 35 working hrs weekly.
Expenses: N/A = $0, (If living with your parents, likelihood of them asking you to pay N/A is low)
I will be using euros and dollars for the sake of this thread.
Briefing/Introduction.
Ive turned 18 recently and need to be financially educated.
Money is vaguer topic of discussion on this forum but still important nontheless. As of writing this, I'm learning with you thus I'm not thoroughly educated on the topic, this is a rough methodology on how to go about allocating your finances. Budgets are not universally exclusive, they are not a one size fits all system so this guide will vary by dependence of your income, location, family status, goals, lifestyle.
I will assume you're young, around the age of 18 and have a job or any reoccurring income stream and perhaps you have a social life and cannot work more than say 30hrs weekly. In the case that you do work more hours, or a second job, you'll have more money!
What You will need;
preferably a pen and paper.
Firstly,
you should begin noting your average monthly Net income. (the clams you get after they are taxed). To do this add your monthly earnings over about 6 months, Divide by 6 = Income per month.preferably a pen and paper.
Firstly,
Following this
you should List and Categorise an approximation of your expenses.Examples include
1.Fixed Expenses which don't change
2.Variable Expenses: which vary by day or price
Below is an Example of an average budget for 35hrs wagecucks.
Im going to use a Zero Based Budget meaning Income Minus Expenses should = 0
If you make 5k a month all money that comes in saved, invested or spent should add up to 5k. Thus, every bill has a purpose. This doesn't mean you've got 0 in your bank account just that income-expenses =0
Example of a Budget using a monthly net pay of €1,600 / $1,854.08 per month. with an approximation of 35 working hrs weekly.
Expenses: N/A = $0, (If living with your parents, likelihood of them asking you to pay N/A is low)
| Expenses | EUR (€) | USD ($) |
|---|---|---|
| Monthly Net Pay | €1,600.00 | $1,854.08 |
| Rent | €411.00 | $476.27 |
| Food | €40.00 | $46.35 |
| Public Transport | €30.00 | $34.76 |
| Hair/Cosmetics | €20.00 | $23.18 |
| Entertainment/Social | €20.00 | $23.18 |
| Phone Bill | €15.00 | $17.38 |
| Apparel | €10.00 | $11.59 |
| Gifts | €12.00 | $13.91 |
| Emergency Fund | €30.00 | $34.76 |
| Insurance (Vehicle + Health) | €0.00 | $0.00 |
| Medication | €0.00 | $0.00 |
| Electricity | €0.00 | $0.00 |
| Trash | €0.00 | $0.00 |
| Subscriptions | €0.00 | $0.00 |
| Total Expenses | €588.00 | $681.40 |
| Monthly Savings | €1,012.00 | $1,172.68 |
When the month concludes follow your budget again. This will result in and around the monthly savings goal.
On paper, this appears correct to me. However, if you're some finance guru cackling in the comments about how abject this information is, I guess let me know what Info missed out on man.
On paper, this appears correct to me. However, if you're some finance guru cackling in the comments about how abject this information is, I guess let me know what Info missed out on man.
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