Personal Finance Budget Plan

Personal Financial Planning budget 10/11/2012 PFP-110-120A-02 Phase I Individual Project A individualised budget is a fiscal plan of an individuals or households income and expenses over a given period, typically one month (www. careeredonline. com). The budgeting process involves estimating future results. In order to civilize this particular budget, the previous month is analyzed. This process jocks to understand how and where the bullion is going away all month. The bills that need paid aside of a $4. 040. 00 income, were as follows * Income $4,040. 00 Taxes interpreted Out Before Bring Home Income $40. 00 * Mortgage non arbitrary * Utilities $190. 00 some circumspection can be applied * Groceries $400. 00 some discretion can be applied * Auto Insurance $120. 00 not discretional * Car Payment $250. 00 not discretional * Entertainment $400. 00 100% discretionary * Savings $168. 00 preferably not discretionary * - Child Care $360. 00 not discretionary * To tal That Is Left $1,512. 00 Most of the bills are not discretionary except the entertainment, and this can get cut back on an primitive amount.Going places and buying things that are not necessary could save money to lend to the savings. The budget had no risk after paying the bills however the money that is left could be put into an investment that is analyzed before investiture in it. A personal financial budget can set aside guidance for anyone with their financial management, which is a type of a management that deals with the financial matters of the individuals or households income and expenses (www. wikipedia. com). Having a personal financial budget can actually help an individuals assurance score.If all of the bills are paid on time, then it looks goodish to the credit bureau. When going to purchase something on credit, a business bequeath look to find if all the accounts in a persons name are paid on time and rate your credit to see if the score is high enough. The best point of this budget is the counterbalance did not come out in the negative, so from here on out the savings needs to be the focus. After finding out just how much can be saved, then investing in a particular thing could benefit and contribute to the income that is coming in now.Strategic readying is also an important part of the budget process. Strategic planning can provide information regarding internal and external economic conditions, investigating potential investments that may be beneficial, and can give long-term goals for financial management (www. assets130000. pdf). Setting goals, being disciplined, and learning to budget your finances, can help to reach your financial goals. References www. careeredonline. com www. wikipedia. com www. assests130000. pdf www. ctuonline/courses/pfp10. pdf