Personal Finance Budget Plan

face-to-face Financial Planning Bud endure 10/11/2012 PFP-110-120A-02 Phase I Individual Project A personal compute is a financial plan of an singles or households in seed and expenses over a given period, typic totallyy one month (www. careeredonline. com). The budgeting process involves estimating future results. In golf club to prepare this erupticular budget, the previous month is analyzed. This process helps to understand how and where the gold is going all month. The bills that rent paid out of a $4. 040. 00 income, were as follows * Income $4,040. 00 Taxes Taken Out Before Bring Home Income $40. 00 * mortgage not arbitrary * Utilities $190. 00 some discretion shag be applied * Groceries $400. 00 some discretion can be applied * Auto Insurance $120. 00 not discretionary * Car Payment $250. 00 not discretionary * Entertainment $400. 00 100% discretionary * Savings $168. 00 preferably not discretionary * - Child Care $360. 00 not discretionary * Total Th at Is Left $1,512. 00 Most of the bills are not discretionary except the entertainment, and this can get cut back on an extreme amount.Going places and buying things that are not necessary could save money to add to the savings. The budget had no risk after paying the bills however the money that is left could be put into an investment that is analyzed before investing in it. A personal financial budget can provide guidance for anyone with their financial management, which is a type of a management that deals with the financial matters of the individuals or households income and expenses (www. wikipedia. com). Having a personal financial budget can real help an individuals credit score.If all of the bills are paid on time, then it looks in effect(p) to the credit bureau. When going to purchase something on credit, a business will look to find if all the accounts in a persons name are paid on time and respect your credit to see if the score is high enough. The best point of this budget is the balance did not come out in the negative, so from here on out the savings needs to be the focus. later on finding out just how much can be saved, then investing in a particular thing could benefit and contribute to the income that is coming in now.Strategic planning is also an important part of the budget process. Strategic planning can provide information regarding internal and external economic conditions, study potential investments that may be beneficial, and can give long-term goals for financial management (www. assets130000. pdf). Setting goals, creation disciplined, and learning to budget your finances, can help to reach your financial goals. References www. careeredonline. com www. wikipedia. com www. assests130000. pdf www. ctuonline/courses/pfp10. pdf