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Thirdly,during 4 weeks saved E 280 as deposit. My most expenditure is made up of rent and everyday expenses on November which is 42%, 31% respectively (Graph). My personal budget helps us get rid of debt, save money for emergencies or work in afford a monthly payment for a car or a house in the future. The best way to save money Is to plan for a budget that you Insist. It Is easy to form a correct spending habit; however It Is hard to stick to It. Compared with 4 weeks exercises between Income and expenditure, I make some changes and put forward some suggestions In the next 5 months.
I want to take advantage of the Christmas sales in order to buy a down jacket, I hope to spend for E 300 the jacket. To meet the new semester, I spend E 50 on new textbooks. I borrowed E 1000 from my parents in order to buy some gifts and clothes to celebrate spring festival, and then the rest of money will be used to Easter travel. I have already mapped out a trip to France and Germany in the Easter break. I plan to repay IEEE per month to my parents before May. Try to become a saver, looking for a low risk and high returns saving product. L willies the balancing of the end to Invest some low risk products.
I plan to make regular savings of E 100 per month after 6 months. Plan to buy a medical Insurance(EYE) during 6 monthlies Is benefit for people pay for exorbitant medical fees. Insurance is significant in our life. Stick to donation Elliot the red cross per month, world a large amount of people who enjoy life, they are lack of knowledge feeds through into financial behavior. In fact that only 40% of American families have a working budget (Pat S), they ignore personal budget that is the key ingredient to successfully managing finances. However the budget is important.
Case Study 2 Miss Minis is 21 years old female who has recently graduated from University. She has started work as an Assistant Accountant for E 20,000 per annum. As a citizen, she has responsibility to pay taxes, the tax ability is, finally she get E 17888 from her income(Tablet). In spite of that she only earns E 20,000 per annum, nevertheless she want to become a saver. She is working hard so that she prefer to make regular savings of E 200 per month. She want to get into the saving habit by saving small sums of money each month, a regular saving account is ideal.
Like everyone else, one essential motive for Ennui’s saving is a precautionary measure often referred to as ‘saving for a rainy day this involves building up saving in order to provide for unexpected events or bills. Minis has a lot of chance to operational control her saving when she is younger, and also she has a stable working, therefore she can afford to take more risks. Tablet Currently in the UK the bank of England base rate is 0. 5% which rates is very low, but the inflation rates increased to 2. 7%, it is not a good time to become a saver as interest rates are very low.