THE MONEY WELL
Debt Reduction
THE MONEY WELL
Copyright @
Moneywell.co.uk 2006-07
Credit Card
Debt Reduction
Moneywell.co.uk 2006-07
Credit Card
Debt Reduction
The US Department of Labor says that, by the age of 65, ninety-three percent of the population requires help from the family and loved ones just to make ends meet.
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What Is Your Income
First we need to establish your income.
This is the income you receive AFTER any taxes have been paid and all deductions. It would include any other income too so if you have a part-time job as well then include the take home pay from that too.
If you have another member of your family receiving an income then that goes into the "pot" too. If you get any government allowances or grants then include those and if you have an ex-spouse paying you money then include that amount too.
The aim is to establish exactly how much real money you have coming in to your household each month.
So make a list of all the money coming in and add it to them all to find your TOTAL MONTHLY INCOME.
You might consider increasing your income by taking on an additional part time job or perhaps working from home. Next...> Doing The Sums
First we need to establish your income.
This is the income you receive AFTER any taxes have been paid and all deductions. It would include any other income too so if you have a part-time job as well then include the take home pay from that too.
If you have another member of your family receiving an income then that goes into the "pot" too. If you get any government allowances or grants then include those and if you have an ex-spouse paying you money then include that amount too.
The aim is to establish exactly how much real money you have coming in to your household each month.
So make a list of all the money coming in and add it to them all to find your TOTAL MONTHLY INCOME.
You might consider increasing your income by taking on an additional part time job or perhaps working from home. Next...> Doing The Sums
Be content with what you have. Rejoice in the way things are. When you realize there is nothing lacking then the whole world belongs to you. - Lao Tzu
Copyright Moneywell.co.uk 2007
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