The gist of today is “Budgeting”.
I know you hear about it a lot, and people bring it up all the time but no one really does it.
Guess what? It actually works. Just don’t overthink and over complicate it. Here’s how to get your budgeting done as easily and simply as possible.
5 important steps to budgeting easily and correctly.
- WHAT IS YOUR REAL TAKE HOME? (your net income)?
The foundation of a functional budget is your net income. That’s your take-home pay—total wages or salary minus deductions for taxes and employer-provided programs such as retirement plans and health insurance, basically what is spendable that finds its way to your account. You need to know the exact amount this is. However, let me go even further, you should also add the cost of transport to work and feeding at the office, this should also be deducted. Now you have your “original take home”
2. Track Your Expenses
Do you ever just check your balance and you are left wondering if you are actually sharing an account with someone else. This is because you are spending without being mindful. Almost everyone spends money over the course of a month without overthinking too. Simply keep tabs on subscriptions Netflix, Spotify etc. , food, rent and know how much you spend each month on these things every month. Luckily the Stellas app lets you track your expenses from the account (simply scroll down at the menu page click see all and check both your credit and debit transactions complete with a graph, yeah that’s how much we care about your finances)
3. Set Goals and Make Plans
If you haven’t really had a spending-saving plan this might not be as easy as it sounds. So let us start slow , save at least 20 percent this month. Then we can move from there. Now if you aren’t the type with the discipline required to pull this off, you are covered.
Do you know that keeping idle money in an acclaimed “savings account” where it earns a meagre annual interest doesn’t cut it anymore with today’s inflation reality.
We have made Stellas Vault just for you to earn you a whopping 15% annual interest on your money.
Let us focus on growing wealth for you while you sip and paint your future with a boxed account.
Get started with a Vault plan today.