#personal budget

I have done a 3.5 year vocational training (so I’m qualified to work as a professional handyperson) and I do have savings

But I do not have the slightest idea how to budget household money

I got a student loan of 450€/mo and my parents said they will give me 200€/month for groceries/ food

I DO NOT intend to start a part-time job until at least my 3rd semester! I have been out of school too long and need to focus so I don’t fuck up college

So my starting budget is 650€/month from which I have to pay

rent & utilities,

insurances (household, liability, casualty, some private health insurances),

groceries,

Plus a small amount each month I need to put aside in case I have to buy additional books, stationary, new everyday-shoes or generally in case I have to replace stuff that gets broken/ used up

Can anyone help me how to keep track of my finances and how to budget when I barely have enough money to cover overheads/ necessities?

Honestly I feel genuinely bad asking for help, especially since I know I have more savings to my name than many people my age probably have. But also, my parents never budgeted – at least not in a way they can teach me how to

Why is it important to distinguish between needs and wants in budgeting?

Photo by Designecologist on Pexels.com Budgeting is the systematic process of preparing detailed short term plan of actions expressed in monetary values. The plan quantified in monetary terms prepared ahead of a defined period should show expected income and expected expenditure. A budget should also fulfill a planning purpose and a control purpose (underlined by the comparison of actual…

Financial Strategy Comparison: FIRE, 50/30/20, Bogleheads and Ramsey’s Baby Steps | Savings and budgeting

Financial movements like FIRE, velocity banking, and strategies promoted by personal finance influencers like Dave Ramsey and Suze Orman often play an outsized role in shaping families’ financial strategies. But this advice is a double-edged sword in the eyes of many professional financial planners. These financial strategies can encourage individuals to face their financial situation and become…

How to make sense of your pay stub | Personal finance

Once in a while, Jenny Redes receives a call from an employee who recently discovered her pay stub. They usually have questions about what all the numbers mean, and the HR professional says that’s understandable. “That’s a lot of information,” says Redes, a certified professional with the Society for Human Resource Management and a human resources manager at manufacturer Custom Profile in…

Do you have a budget? Is it designed to help you grow? What type of Hosting is Bluehost? A budget is your quantitative plan. It is a collection of the things you want to spend money on and where the money is going to come from. It is a simply a collection of your future revenues and expenditures. Having a budget is an indication of an intention to avoid running into financial distress and…

How to win your money game with budgeting

Are you working your tail off but have nothing to show for it at the end of each month? Are you struggling to pay your monthly bills? Do you have spending patterns that you are not proud of? Do money worries keep you up at night? The post is about how budgeting will answer this and many other questions.   First, lets define what budgeting is? According to consumer.gov definition: a budget is a…