In This Chapter:

The Dreaded Budget

Budget should neither be a major concern or a point of worry. It is simply a matter of putting all of the proper numbers in the proper place and then sticking to the lifestyle that you are able to afford.

What income is factored into the budget

Difference between gross income and net income and which type of income should be used in the budget

Fixed and Flexible Income

Defining Fixed and Flexible Incomes

Net Income

Net income is the amount of money that is left after paying taxes.

Expenditures

The expenditures are the bills and expenses that you will have to pay over the course of a month.

What Income Does Not Go in the Budget

Income coming from hobby or sideline businesses should not be included in the budget