Managing finances can be very difficult with all today expenses and up and down in economy. A lot of way to manage your personal finances with out having to use an accountant.

  1. Figure out your net income, which is money you have on hand after deduction of taxes and other mandatory fee’s taken out of your paycheck at the end of the month. This money you actually make when all is said and done. This is what you really have to work with.
  2. There are so many simple rules to managing your personal finances, that is your income vs your expenses. If your expenses greater than to your income I think you need to look for an extra job or way to cut down your expenses.
  3. There are simple percentages which you should break down your expenses compared to your income.

10 to 15 percent for your savings account

15 to 20 percent for foods and other household

20 percent for transportation, gas, oil changes, insurance, etc.

40 percent for mortgage or house rent

10 percent to other stuff in your life

This easy way to breakdown your expenses, make it easier to keep track of spending. It is also allow you to compare your income with your expenses. If your income is low so that your expenses in this categories is large that your income percentage wise, do not fret too much.

These easy steps will hopefully assure that you can control your finances situation no matter what it be.

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