A few years ago I started tracking my personal expenses closely. I did this because I was starting my business, and wanted to make sure that I had the cash flow available to make it work. For most people, budgeting can be done in one of two ways:
- You save first, and spend until your money is gone and your next paycheck arrives, or
- You plan how much you can spend based on your income and expenses and put the savings aside at the end of the month.
For people with large incomes, the save first option works well. For …Read More