fr i prolly go with bugdet but is your choice
The best plan for spending money would be to follow these steps:
1. Budget:
Creating a budget is crucial for managing your finances effectively. Start by listing your sources of income, such as your salary or wages. Then, allocate funds to different categories, such as groceries, transportation, entertainment, savings, and emergencies. Set realistic limits for each category based on your income and priorities. Tracking your expenses and adjusting your budget regularly will help you stay on track and make informed financial decisions.
2. Payments:
Once you have established your budget, prioritize your necessary payments. These may include bills, rent/mortgage, utilities, loan repayments, and other fixed expenses. Ensure that you allocate enough funds to cover these payments on time, preventing late fees or penalties. By prioritizing payments within your budget, you can maintain financial stability.
3. Net Pay:
Consider your net pay, which is the amount of money you receive after deductions, such as taxes, insurance, and retirement contributions. Understanding your net pay is important when creating your budget and planning your spending. It helps you determine the actual amount of money available for expenses and savings.