Earn up to $7500 for one sale!

Thursday, March 16, 2017

How to Manage Your Monkey Budgeting Income

By this time, you should have
accumulated all your financial forensic evidence and are ready to start putting
together a budget.  If you have not yet
done so, now is the time to get out the checkbook registry, get together all
bank and credit card statements, and get ready to assess your income and outgo.

Be sure you have all your credit card
statements, loan statements, and any other financial statements or documents

It is best to use some type of
financial software or even a basic spreadsheet program for this.  If you do not have any of this, Google has
Google Sheets, which is a free basic spreadsheet program.  Open Office also provides a free spreadsheet
program. Start by listing all your income and/or
anticipated income.



Gross income is the total income you
produce.  It is everything before any
type of deductions are taken out of your check.
You will use this to calculate your tithe and savings plan.



Your net income is what you actually
receive.  This is what is left over after
all your deductions such as federal taxes and Medicare.  Net income is the amount you will actually be
able to spend in your budget.

When David was working as a loan
officer at a supervised lender, he was taking a loan application when someone
told him, regarding their income, “De duck gets more than I do”.  This is a cute statement to state what many
of us think about the many deductions from our paychecks we have to endure.

Your income will consist of any salary,
hourly wages, or tips you receive.  Also,
include wages you earn from anything.

Get this all together and write it down.  Remember to include all income received by
both spouses in this calculation.

Gross Income from
Salary/Wages------------------------- _______
Tips, etc.----------------------------------------------------- _______
Rents received----------------------------------------------- _______
Royalties received------------------------------------------- _______
Income from second job------------------------------------ _______
Total Gross income----------------------------------------- _______
Less deductions--------------------------------------------- _______
Net Income--------------------------------------------------- _______

over all the information you have gathered together.  Do you get interest on any checking or
savings accounts?  Do you have any money
market accounts, CDs, or other interest-bearing accounts?  If so, list the interest received from these
as your income.

you have a side job like babysitting, preparing taxes for others, mystery
shopping, direct sales (like Avon or Tupperware)? 

you have what some people call side hustles like Uber or AirBnB? 

In short, have you listed all sources of income
that you receive regularly, even if it is only once or twice per year?

If you would like for me to pray for you, please drop me an e-mail by clicking prayer.

Please Visit My Child Bride Suzanne's Blog

I respond to all approved comments on this blog, ideally within 24 hours.  Please check back here for a response to your comment.  Thank you!

Please be advised that all the information in this course is provided to educate, enlighten, and broaden your views in life.  The information provided is not a substitute for medical, legal, dietary, financial/accounting, or religious professionals.

Always consult a professional before you act on any of the information you find in this course.  

Do you have a frugal recipe?  Please e-mail it to me.

Help us reach 1,000 YouTube subscribers. Please watch some of our videos. If you like them, please subscribe. Also, please share our YouTube information with your friends.  We thank you so much for all your help. 


The opinions or advice listed in this blog or website should be used as a place to start only. It is not a substitute for the use of a professional.

Please be sure to consult your attorney, accountant, and/or other professionals with any specific questions.

There is no one right answer to any business question that will cover all circumstances.

No comments:

Post a Comment

All comments are moderated to help avoid any problems.

I appreciate your comments and will respond as soon as possible. I respond to all comments here on this blog.

Thank you for visiting and taking the time to comment. Have a blessed day!