Good Budget Planning

When we plan week-to-week or month-to-month we miss the big picture and we fail to ask ourselves where we want our money to go and what we want it to do. The proper name for a money plan is a budget. Good budgets take account of the whole year and all the things we are likely to need or want to spend money on.

Believe it or not the biggest decision should be choosing the amount of money that you don't spend! After all, spent is spent. The most important money in any woman's life is the money that she chooses to keep, the money that will give you choices and independence in future years and will allow you to have some of what you were dreaming about.
Next, consider your fixed expenses, food, transport, utilities, and allocate amounts to these. Do not overlook bills that don't come monthly, such as car registration, school fees and warrants of fitness, as these often blow the budget.

The best list of the things that you need to allocate money for is on the budgeting. When you have chosen your amount to save and decided on what you need for fixed expenses you can spend what's left on discretionary things, hobbies, and leisure.

The proportions you save and spend on discretionary items tend to vary with income: the lower the income the greater the proportion of income that tends to be needed to cover fixed costs.