Listing Your Income
For some this may just be one item your payroll, for others it may include child support and or alimony. Write them down. Next write down how often you receive each; examples would be: weekly - every Friday, bi-weekly - every other Friday, or monthly - on the 1st or 15th. Now write down how much you receive each check. If you don't receive the same amount each paycheck, use what what your typical or average paycheck would be. Let's don't use additional income that is iffy. In other words if you receive money from someone on a whenever they have it basis don't include that. If it's not guaranteed money we can't count on it to pay the bills. But, we can use the iffy money to put in the various savings whenever it comes in. Click here to read more about various savings accounts. Back to our budget... This list was fairly quick & easy... now lets put those lists together...... One more quick note: Regarding payroll taxes; Make sure you are having enough taken out of your payroll for taxes. If you don't have enough deductions to keep from paying in, this bill can be a burden around April 15th. You don't want to have to try and come up with that money each year at tax time. And unless you are well schooled in saving and will start a savings account just for this to put the money in each paycheck to cover it, make sure your withholding enough. Return from Listing Your Income to Budgeting
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