Whats the best way to keep up with an operating budget..expenses vs. income?
460428
Are you talking about personal or at work?\n\nI use a spread sheet for my personal budget. I keep it up on a regular basis and reconcile any problems on a monthly basis.\n\nA key point is that I "charge" any credit card purchases as soon as the purchase is made. Just like I had written a check.
323699
Have you consider taking some kind of public transit system that would reduce your stress and expenses.\nWhen doing budget you need to ask yourself if you really need this or want it.\nNeed is something you must have.  Want is something you can cut off.  For example do you need to have cable T.V. or should you spend time with the kids instead of watching T.V.
1091858
First calculate your anticipated revenues.  \n\nThen break your expenses down into two categories:  fixed (meaning the amount is the same every month) and variable (meaning the amount will fluctuate depending on variable factors).  \n\nEstimate your revenues using best case scenario and also worst case scenario.\n\nCalculate your expenses accordingly.  First your fixed costs and then your variables.  Your percentages should be based on industry standard, or your personal knowledge and expertise of the business.  \n\nYou may have to research similar industry trends, but on average, 50% will be fixed operating costs, 35% will be variable operating costs and 15% will be other expenses.\n\nModel your forecast on the best case, worst case and median revenues you've projected.
124636
I am also a 27 year old female, and I've learned some harsh lessons about financial realities.  I'll share with you what worked for me.\n\nI have a binder full of lined paper.  On the first page of the binder I have a budget.  You may ask yourself, how does one create a budget?  \n\nThe way I did it was to first list the things I have a fixed amount I need to spend per month: Rent, Car payments, Magazine subscriptions, Car insurance.  Then I figured out how much I would need PER PAYCHECK to save for this (don't say per month - if you do this, you're setting yourself up for failure).  I need $400 per paycheck for rent, $200 for car, $50 for insurance, $5 for registration, etc.  ANYTHING you spend money on goes down on paper.\n\nNext, I put down the things I need, but that aren't fixed.  For instance, groceries, gas, car repair, health (SO very important to have a large reserve, as I recently found out).  I guess how much I'm going to spend on this per month.  Don't forget, that a budget is ALWAYS evolving.  You get raises, bonuses, and (hopefully not) pay cuts all the time, so be prepared.\n\nFinally, you need to have some money to yourself.  I seperated these into clothes, gifts, massage, and books for myself, but you can always change that around.  Put a fixed amount per check into these funds.\n\nHere's the most important part: RECORD what you're spending on the other sheets of paper.  If you buy a pair of shoes, that goes in the clothes budget.  If you buy a gallon of milk, that goes in the groceries budget.  I guarantee you'll be shocked by some of the purchases you make. (I was spending $500 on groceries for two people in a month - that's absurd.  I now REALLY watch what a shop for, and I make sure I'm not throwing things away because they got old - I use everything!)\n\nOk, now we're ready to set aside some money to save!  Generally people say to save 10% of your gross income.  With the above method, the car repair and health funds are sort of "oh no" accounts that you're not going to be touching unless you have a situation, so I count that as part of the 10%.  Aside from this, calculate 10% of your net income ($800 = $80) and have it direct deposited into a different account.  This should not be accessable by check OR atm card!!!!  Once you have about $2,000, you should be able to move it into a money market (some people call money markets "High Yield Savings Accounts") without having to pay any fees.  You'll earn about 2%-4%, depending on the rates at the time.\n\nDon't forget that you'll want to fund some sort of retirement account out of this!  Make sure you try to set asside the maximum possible into retirement accounts so you don't regret your misspent youth.  I'll let you know that I've done calucualtions that say I need 2 million (caluculating for inflation) dollars to retire at age 65.  Yes, that is $2,000,000.  I urge you to look for a program called "Smart Women Finish Rich" in your area.  You'll learn TONS from it, and hopefully be inspired to start saving money.
568709
As a rule of thumb: take your expenses per year and multiply by 20.\n\nFor example, if your total expenses per year are $30K (rent, food, car, taxes, medical etc...), you will need $600K.\n\nSounds like a lot ? You need to (1) start saving immediately (2) reduce your expenses and lifestyle, for example, drive a small car, find a cheap place to retire...
823106
Find a friend or family member who is good with money and ask them for their help and guidance.  It is always good to have personal help and not just read tips off of a website or book so that your situation, personality, likes and dislikes can be factored into your budget.  \n\nSuze Orman on CNBC Saturday nights is also a great resource!
100668
Budget. Figure out how much money you need to spend. Make liberal estimates, and save everything else. Then, little bit little, find ways to lower your spending (find better prices for the things you need, avoid extras like eating out, movies, etc).
529922
I would say, first, create a budget.  Outline what cash inflows you will have, and what expenses you expect to incur.  Doing this will help you save for what you know is coming, and be better prepared to adjust, should something unexpected come along.\n\nOtherwise, you might be interested in setting up an IRA. (individual retirement account)  There are many kinds, and you choose the one that's right for you.  IRA's are a good way to set aside money for retirement; they are also treated very favorably by the tax codes!\n\nOh, and Use something like a Microsoft Excel spreadsheet, it helps you stay organized and can be adjusted, saved, and can do a lot of the adding/subtracting stuff for you.\n\nSimple answer for a simple sounding question... anything specific?
677273
Put together a business case detailing the savings to the company versus the cost of setting up the needed equipment. In the business case, unless your company pays your commute costs, leave out the cost of your commute. You need to show them while this will benefit *them*
374182
First you need to know what your net income is.  In case you don't know what this is:  Net income is the income after taxes (remember we have to pay Uncle Sam first) and other deductions.\n\nYou'll also need to know the expenses you have per month. \n\nI'll give you a typical budget.\n\nExample for a Monthly budget:\n\n2500.00 Net Income\n\n0850.00 Rent or Mortgage\n0100.00 House insurance\n0100.00 Gas\n0050.00 Phone\n0050.00 Electricity\n0040.00 Cell phone\n0250.00 Food\n0100.00 Clothes\n\n1540.00 Total expenses\n\n0960.00 Balance\n\nThere are expenses that you cannot change.  For instance, the rent or mortgage do not vary  unless you move somewhere else or get a new mortgage.\n\nEverything else on this budget can be changed.  \n\nIf you see that you don't have enough money to pay the rent, then don't eat out that much, don't buy those extra pair of sneakers just because they were beautiful.\n\nIn the above budget, you have 960.00 extra per month.  You can choose to spend it all on beautiful sneakers.  I would advise you to save some of it for a rainy day. After all, 950.00 on sneakers is pretty high.  Don't you think?\n\nBesides, if you don't own a house now, maybe you'll want to save it for a house. I don't know.  Maybe you prefer to go on a vacation.  My point is:  DO NOT SPEND ALL YOUR MONEY UNLESS YOU HAVE TO.  ONE DAY YOU MIGHT NEED IT.\n\nOf course, your budget might differ from above.  I  did not take diapers for your toddlers into consideration.  Neither did I take medical costs, babysitters, or entertainment into consideration.  \n\nI figure that this is enough for you to see how a budget works.  \n\nRemember, if your income is greater than your expenses, don't spend what you have left on stupid things.\n\nIf your income is less than your expenses, you are in big trouble.  Therefore, cut down on the expenses.\n\nKeep in mind, however, that sometimes you need to spend money on stupid things.  They nourish your soul.
527438
One of my clients who had trouble budgeting used the website below, and he tells me it has done wonders for him.  Hope it helps you too.\n\nBest of luck.
31721
ms money 2006 has budgeting built in. msn money - the web site version is also cool.
672516
Stop spending, cut your spending.\n\nPlan a budget, and save.
683610
You have to estimate all your monthly expenses, add them together, and subtract that from your total monthly income after taxes. You should remember some emergency funds and some "fun funds" as well as the basic necessities like food and rent, car insurance, etc.
203594
In the beginning it is so much different b/c you are traveling to different places to network with people and figure out who's going to make what parts and then how they are going to get paid and when.  There is so much work that is done even before budgeting.  There surely needs to be some funding that can be tapped whenever to support the idea/business.  Depending on how big your funds are is what really determines your budget most of the time.  But when your looking to make money with a quality product, and not nesseccarily NOW (LOL), you have to sink what you have into it and then wait for it to catch on......word of mouth and from peoples peers are the top ways.  Plan out a time line of what you want to be and where in the next year and then break down your steps.  ex: Get a bunch of friends together and brain storm, search net to see where products can be ordered/made, plan trips accordingly, etc.  Planned things usually work better.
491760
Estimate your income and your expenses. For your expenses, determine the things you NEED to pay (rent, utilities, food, etc.) and then budget what is left for other things (savings, entertainment, clothing, etc.).
701962
Just claim the income on your taxes for now and keep track of your expenses because you can deduct those (if you do itemized).  I wouldn't start a corporation.  Once you have one of those, you are on the IRS radar screen.  You will probably have to set up a business checking account to track stuff for your corporation, and that won't be free.  You aren't generating enough revenue right now to justify all the paperwork you'd have to keep track of with an LLC.