Every budget should include bills and irregular expenses. 76% of Americans live paycheck to paycheck,¹ and a budget can help combat that kind of lifestyle when each expense is taken into account.
Step 1: Evaluate all of your once-a-month bills. Evaluate your cell phone contract, your cable, internet, utilities, et cetera, and challenge yourself to research and negotiate lower rates or modify your use of services so that you can lower your bills. If you lower your bills, don’t forget to reflect those changes in your budget, and reallocate the money you’re saving by putting it towards something else, like credit card debt.
Step 2: Make a list of your irregular expenses. Examples include car registration, property taxes, car maintenance, etc. Think about the next 3 – 6 months and list any periodic expenses you will need to pay. You should account for these in your budget. Can you start putting money into savings every month in anticipation of these expenses?
Step 3: Pay your bills on time. Use your monthly spending plan to organize your expenses and allocate money towards your bills.
Do you have trouble meeting monthly bills? A Money Coach can help you complete the steps above and meet your monthly expenses. Talk about it with a Money Coach by calling 888-724-2326, and feel confident that you can make your paycheck work for you.
¹Steiner, Sheyna. “Many Americans Living Paycheck to Paycheck.” Bankrate.com. N.p. 26 Nov. 2012. Web. 9 Sep. 2013.
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