Finances

This represents a large concern in most people’s lives. Balancing the books is something that people often struggle with. Income could be used in the following way to limit financial stress. Firstly, food and shelter have to be paid/provided for. These are basic needs that must be met and include: grocery bills; utilities (gas & electric); rent or mortgage; water bill/rates and any other necessities. If there are insufficient monies to cover all the above the you are in deficit and may need professional financial help; or perhaps a second job to increase your income.
When the entire have to’s have been accounted for, then comes the fun bit. If there are monies left over after all the essentials are covered the most important thing to do next is to pay ‘yourself’. By this I mean you put money away in a savings account (hopefully about 10% of what’s left after essentials). By doing this every month you build up savings which equal peace of mind. Hopefully you will never have to ‘dig in’ to these savings and eventually they will start earning you a passive income through interest earned. With any money left over after essentials and savings you can use what’s left over as you see fit; entertainment, charity donations etc.
I wish you good luck with sorting out this important and sometimes stressful part of your life. Once finances are in order I hope you will find this helps create peace of mind.