Posts Tagged ‘budget’
Establishing the Budget
Dave Ramsey's Total Money Makeover
As I said in my previous post regarding my new years resolutions, I’m trying to read at least one book that will improve myself in a professional or financial manner. Since I’m a new college graduate with a drastic change in income and will have to soon begin paying off a mountain of student loans, I decided to start reading Dave Ramsey’s Total Money Makeover. For those of you who aren’t familiar with his concepts, the book thus far works on establishing a plan to become debt free.
In my attempt to apply what I’ve learned thus far from Total Money Makeover is to establish a budget, and it’s the perfect time since my new income will start coming in this coming payperiod. Using a zero-balance method (every dollar is allocated to a specific expense or savings) I have been able to get a more clear idea on how my new income will impact my expenses and attack my debt, with my goal to eliminate my credit card debt before my grace period ends for my student loans, allowing me to funnel more money each month towards those loans.
If you have any reading recommendations, please feel free to tell me by commenting. I find the books that have the most value to me are ones that are recommended by others who may share similar experiences to mine.
