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Question…

Asked by Anonymous

how can I do to save money?

A good way to start saving money is by creating a budget, detailing all of your income and expenses each month. It is important to remember to update your budget as your income and expenses change.

Your income is the money you bring in each month. This can be a fixed income - like a salary - or a variable income - based on commission - or a mix of both. To make a budget, first you should add up and record your monthly income.

Next, take a look at your expenses each month. Some of these will also be fixed, such as rent, car payments or other utility bills. Other expenses will vary, like groceries or transportation costs.

Once you have outlined your average monthly incomes and expenses, you will be able to see how much extra money you have left over. While some unexpected expenses may come up each month, you should be able to put a percentage of your money into a savings account.

Learn more about creating a budget and saving money.