For example: mortgage, school fee, cable tv etc. Fixed expenses are usually related with the same amount of money that has to be expensed because of obligation. The limitation should be based the amount of income being received, fixed and flexible expenses. One tool to help people manage their expenses is a personal budget.Ī personal budget is a financial plan which sets limits on the amount of money that will be spent on any expenses category in any period of time.
In order to reverse this trend, people need to become more responsible with their spending patterns.
Because people tends to spend their money as soon as they get paid and think about saving it several days before getting paid again.
That is the reason why every last week in every month we saw any marts, restaurants, stores are more quiet comparing with previous weeks. Some people just don’t know how to make it, others are don’t have intention on limiting their expenses. At this point of time, there are very few people who understand the needs of budgeting their daily expenses.
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