Five Tips for Developing and Managing Your Budget - Even in Tough Economic Times TC_Africa: Africa
But where should you start? What questions do you need to answer in creating a budget? Here are some tips that I've learned - not just as an economist, but as a research cost analyst and someone who keeps a budget too.It is imperative that individuals keep themselves aware and up-to-date on the realities of their country's economic landscape.
Some important questions you should ask about your income - and how you might budget with it - include:Am I able to save, given my current income?Do I have the capacity to earn more than this?Your answers can help you to identify gaps or untapped potential. Those with irregular or unpredictable income should factor in the element of time-gap in their income, for effective budgeting. Time gap is when they are not earning income.
What is the proportion of consumption-savings ratio from my income? This is how much do I spend compared to how much I save.What are my extraordinary expenses that need modification?A careful response to the issues raised above offers an occasion to re-evaluate the pattern and direction of our expenses. For instance, overspending, unplanned or extraordinary expenses can be identified. This can lead to an optimal, efficient reallocation of available resources.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Africa: Climate Crisis in Africa Exposes Real Cause of HungerAnalysis - In the waning hours of the year's biggest climate change conference -- COP27 -- we learned of a deal to create a loss and damage fund.
Read more »
Africa: Ukraine's Aim to Deepen Ties in Africa Leaves Open QuestionsUkraine wants to rekindle its presence on a continent where Russia already has significant investments and influence. But how do African countries view Ukraine's diplomatic initiative?
Read more »
East Africa: Gloomy Prospects for Horn of Africa in 2023Somalia and Ethiopia will be the world's biggest worries in the new year. Disastrous governance in these countries will likely lead the region deeper into crisis, says DW's Ludger Schadomsky.
Read more »
Five US stars who visited South Africa, aka the ‘motherland’, in 2022Mzansi has been called a second home for some stars.
Read more »
Tips to avoid overspending in the school holidaysCost-effective and creative ways to keep your kids entertained these holidays. Moneyweb FinancialAdvice
Read more »
Eating out budget tips for frugal foodiesVouchers, special deals, date night delights — it just takes a bit of planning and strategising for frugal foodies to indulge in a restaurant meal without the side order of guilt.
Read more »