This is pretty much true for every single person in every single financial situation. Whether you’re a millionaire, or paycheck to paycheck, or homeless. You need to understand where your money is coming from and where it’s going.
This is pretty much true for every single person in every single financial situation. Whether you’re a millionaire, or paycheck to paycheck, or homeless. You need to understand where your money is coming from and where it’s going.
One thing I see a lot on the reddit personal finance sub is people posting a budget like this:
Which…ok, that’s waaaaay better than nothing. We have something to go off of here. Phone bill is crazy high, that’s a ton of cc debt, etc. But it could be so much better. It doesn’t explain why the cc debt is so high. Why do they have a 2nd mortgage? How many people is that grocery bill feeding? Where’s the “eating out”, “movies”, “vacations”, “random gas station snacks”, the stuff that might have caused the cc debt in the first place? The more granular the better.