Learn more about moneyandinvestments with this collection
How to prioritize tasks effectively
How to manage your time efficiently
How to reduce stress and anxiety
Total Expenses
The combined amount of your fixed and flexible expenses.
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72 reads
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Total Monthly Income
The income from your job or other resources including investment dividends, pensions, Social Security benefits, rental income and more.
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85 reads
Flexible Expenses
Expenses that change from month to month, such as how much you spend on utilities.
22
94 reads
Disposable Income
The money you have left over after you subtract your income taxes from your income.
23
102 reads
Budgeting
Acknowledging areas where you are overspending can be an eye-opening experience. Creating a budget and sticking to it can help you save and reach your short- and long-term financial goals. This is not a one-time exercise.
Revisit and rework your budget if you have a financ...
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Deepstash Content Curator 📖 Collecting good reads that brings value in my life ✨ instagram.com/sheenaweee
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5. Analyzing Your Expenses
Expenses can be categorized in 2 ways:
- Fixed
- Variable
Review your spending from the last 3 months.
Categorize expenses as:
- Needs
- Wants
Measure your expenses
Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.
Alternatively, use the envelope method. Make an envelope for each of your non-fixed expenses, like groceries, clo...
Unforeseen Medical Expenses
Old age typically brings medical problems and increased healthcare expenses.
Living out your retirement years in comfort while also covering your medical expenses may turn out to be a burden too large to bear.
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