Many people only consider reducing their expenses when times are tight. But, there is only so much your budget can take in the way of belt-tightening. There are two sides to the budget equation. Another way to tackle the problem is to look at the other side of the equation. You can help your struggling finances by increasing your income as well. Understanding The Accounting Equation Or Budget Equation On the first day of an accounting class in college, the professor put the accounting equation on the board. It is an equation that … [Read more...] about There Are Two Parts To Your Budget Equation
Do you know how to budget? A lot of people hate the B word. I have to admit it myself that I do not enjoy budgeting. Many people try to fake it by simply calling it a "spending plan". But, budgeting is a great way to make sure that you have enough money to pay the bills each month. It is also a way for you to save for different financial goals you may have in life like retiring early, finishing your bucket list, or sending your children to college. The hardest part of budgeting may be simply starting. So many people do not know where to start … [Read more...] about How to Budget – Getting Started Budgeting with Your First Budget
When you assume the responsibility of running a household, you also must take an accounting of the costs it takes to make a house a home. In effect, how to run a household can be likened to running a business if you want your home life to be successful. That is why budgeting is so important in maintaining your home for you and your family. For example, just like a business, you should take an inventory of all those items you have on hand in your home for insurance and financial purposes. How to Run a Household Like a Business The Importance of … [Read more...] about How to Run a Household Like a Business and Maintaining a Budget
With the rise of the gig economy and the availability of independent contracting jobs outpacing the availability of employee jobs in some industries, many people are increasingly concerned about income stability. On one hand, flexible work arrangements are ideal for anyone who wants to decrease time spent commuting to and from work, start a family without losing an income stream, travel and work remotely, or simply work on a schedule more suitable for their lifestyles. On the other hand, contract jobs can lead to irregular income and … [Read more...] about 5 Ways to Stay Afloat When You’re Without a Paycheck
It’s all about flexible subscriptions nowadays. Whether it’s a TV streaming service like Netflix and Hulu or quirky subscription boxes for seemingly every hobby in existence, consumer data research suggests our collective obsession with subscriptions is unlikely to go away any time soon. Consumers love subscriptions over ownership because there’s much more flexibility, convenience, and easier access to products and services. But what about subscribing to a car service, as opposed to buying a used car or leasing one for a few years? While … [Read more...] about Are Car Subscription Services Worth It?
Have you wanted to try the cash-only budget method, but you’ve held back because of the impracticality of using only cash in this digital age? If so, then a new app called ProActive Digital Envelope might be the solution you’ve been waiting for. The way ProActive works is fairly simple. You transfer funds into your ProActive account whenever you get paid and determine how those funds should be allocated into different expense categories before you ever make a purchase. When you use your ProActive card at checkout, the amount you spend is … [Read more...] about ProActive Digital Envelope App Review – The Simple Budgeting App