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Budget Fundamentals

The basis of a budget is a set of categories for your expenses, such as entertainment, insurance, and groceries, and your income, such as salary and interest. When money comes in, such as your paycheck, it is divided up among the various categories. Likewise, each and every expense is charged against the appropriate category. Sounds like a lot of work—and it can be. This is why the Excel template that is part of this chapter is such a valuable tool. By taking most of the drudgery out of keeping a budget, the template lets you have the advantages of budgeting without the hassle—or with a lot less hassle, at any rate!

Let’s take a look at the Home Budget Calculator. Then I’ll explain some ways you can use it to help take control of your finances.


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