Personal finance
Personal Budget
Do you love to budget? Do you expect to make a personal budget for the next month? Do you look forward to boasting of your budget to you friends?The answer is yes. Also I want to become a saver, a British economist Mr. Martin told us“the best way to save money is to have a budget that you stick to”.I established a 6 month forecasted budget for the period November 2013- April 2014. First of all, I want to emphasize thatI am an international student and my parents provide me ￡700cost of living a month, I have ￡5000 in my saving account in the UK before November 2013.I learned a lot of knowledge during 4 weeks exercise.
Firstly,I was spending money on the things determining first whether I needed or not. After that I started a part time job on November 1st in order to earn money and set up an emergency fund. I change my spending habits from a spender to a saver, reducing unnecessary waste.
Secondly,it is advisable toprepare for a personal budget per month, analyzingand comparing the differences every month.A personal budget is a financial plan which compares an individual’s expected future income and expenditure and provides an opportunity to keep a firm grip on finances.
Thirdly,during 4 weeksI saved ￡280 as deposit. My most expenditure is made up of rent and everyday expenses on November which is 42%, 31% respectively (Graph).My personal budget helps us get rid of debt, save money for emergencies or work in afford a monthly payment for a car or a house in the future.The best way to save money is to plan for a budget that you insist. It is easy to form a correct spending habit; however it is hard to stick to it.
Compared with 4 weeks exercises between income and expenditure, i make some changes and put forward some suggestions in the next 5 months.
I want to take advantage of the Christmas sales in order to buy a down jacket, I hope to spend for￡300 the jacket.To meet the new semester, I spend ￡50 on new textbooks. I borrowed￡1000 from my
Do you love to budget? Do you expect to make a personal budget for the next month? Do you look forward to boasting of your budget to you friends?The answer is yes. Also I want to become a saver, a British economist Mr. Martin told us“the best way to save money is to have a budget that you stick to”.I established a 6 month forecasted budget for the period November 2013- April 2014. First of all, I want to emphasize thatI am an international student and my parents provide me ￡700cost of living a month, I have ￡5000 in my saving account in the UK before November 2013.I learned a lot of knowledge during 4 weeks exercise.
Firstly,I was spending money on the things determining first whether I needed or not. After that I started a part time job on November 1st in order to earn money and set up an emergency fund. I change my spending habits from a spender to a saver, reducing unnecessary waste.
Secondly,it is advisable toprepare for a personal budget per month, analyzingand comparing the differences every month.A personal budget is a financial plan which compares an individual’s expected future income and expenditure and provides an opportunity to keep a firm grip on finances.
Thirdly,during 4 weeksI saved ￡280 as deposit. My most expenditure is made up of rent and everyday expenses on November which is 42%, 31% respectively (Graph).My personal budget helps us get rid of debt, save money for emergencies or work in afford a monthly payment for a car or a house in the future.The best way to save money is to plan for a budget that you insist. It is easy to form a correct spending habit; however it is hard to stick to it.
Compared with 4 weeks exercises between income and expenditure, i make some changes and put forward some suggestions in the next 5 months.
I want to take advantage of the Christmas sales in order to buy a down jacket, I hope to spend for￡300 the jacket.To meet the new semester, I spend ￡50 on new textbooks. I borrowed￡1000 from my