It’s probably closer to $3,000, and maybe even less. Because of all these other hidden expenses, using $4,200 as a basis for your budget really isn’t accurate. What you should really be basing your budget on is your actual take-home pay each month.įor instance, if you make $50,000 annually as a salary – or around $4,200 per month – you need to take into account your income tax, benefits, pension plan, and other costs that you’re paying that get docked off your monthly checks. The answer here isn’t simply your annual salary, nor dividing that number by 12 equal parts for each month. Know Exactly How Much You Really Bring in Here are some helpful budgeting tips to help you come up with a functional budget to keep your finances healthy. It only takes a misstep or two to turn your detailed budget into a total mess. If you’ve already tried starting a budget and keep running into obstacles, perhaps it’s time to start looking at the fundamentals. Click below for the free budget template that matches your lifestyleĬreating a budget might not exactly sound like the most enjoyable task in the world, but it’s a necessary part of keeping your finances in order, and keeping you out of mounting debt.
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