Re: Budgeting -
April 17th 2021, 05:07 PM
One of the easiest ways to budget is knowing your weekly hours and hourly pay. I am going to use a random number for an example only for this. You are paid $15/hr and you are working 30 hours a week. What you do is calucate the hourly rate by the hours, so it looks like this:
$15 X 30/hrs = $450
You will expect $450 for one week. If you are paid every other week, times this number by 2, which would be $900. If you're paychecks are dedcuted for taxes, you would receive less, so possibly in the upper or middle $800 range.
Taking the $800 and times it by another 2 for the entire month (we already calucalted two weeks and need to finish the rest of the month) you would receive about $1600 - $1700 in the ball park due to tax deductions.
It can be easy to know your hours each week to do this, whereas, if your hours change, it can change.
Knowing your overall income for the month can help with payments and savings.
Do you have a savings account? If not open one with your bank. Every pay put money into that account, get a savings account where you can access it for EMERGENCIES ONLY.
Determine all your bills. Could you lower your phone bill? Is there a better plan already with the same benefits that you don't know? Check. It can save you money.
Would you receive a utility bill each month or every other month? What will you be paying? Hydro is easy to save money on by unplugging things from outlets when not using and turning lights off when not in the same room.
Shop when sales are happening when you can save money on food costs. If you buy meat, buy family packs and portion out into freezer bags, it lasts longer and saves you money. Using coupons can also save you money.
Does your Guinea pigs chew on toilet paper rolls? If they do, put those in there pen and they can use the peices as bedding material. You could see about putting a little less bedding and putting toilet rolls in there and see if they will chew them to make bedding. You could also cut finely strips of newspaper to put in there as well with there bedding.
I hope this was helpful.
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