| How to Create a Budget Posted: 16 Nov 2019 12:00 AM PST Budgeting money is important for us to be able to meet our expenses whether in the home or business, manage our money, and keep our finances in check. We need to know where our money is going, and put away enough to pay for our monthly bills. It is important for every bit of our income be accounted for, so that we are aware of where we might be spending too much, and where we can cut back so that our most important expenses are covered at the end of the month. [Edit]Budgeting Help [Edit]Creating Your Budget - Record the net monthly income that you receive. Net income is the amount that you actually get to take home, after all the deductions (taxes, health care) have been subtracted. Include other sources of income as well if applicable, such as tips, monthly bonuses, cost of living increases, dividends, interest income, etc.[1]
- What do you do if your income is constantly changing? You pretty much have to do things topsy-turvy.[2] Determine all your essential, priority and lifestyle expenses first. Then, with your paycheck, start paying off all your essential needs first, followed by your priority and then lifestyle expenses. The money you have left over can either be set aside for an emergency account or stashed away into savings.
- Remove from your net monthly income your stated savings goal. Ideally, set up an automatic withdrawal into another account so that you aren't even tempted to touch it. If you never see it, you won't miss it. Squirreling away savings will help you anticipate emergency scenarios and prepare you for retirement.
- How much money should you try to save? It mostly depends on your salary, but a good benchmark is 15% to 20%.[3] If you can only afford to save 10% of your annual income, that's fine, provided that you save some of it.
- Take advantage of matching contributions from your employer, if possible. If your employer matches contributions to your 401(k) — up to a certain percent — take full advantage of their generosity. It's the closest thing you'll get to "free money" in your lifetime.
- List down your monthly expenses into three separate categories. These categories are "fixed," "flexible," and "discretionary."
- Fixed expenses remain the same each month, such as a mortgages or rent, a loan payment, insurance or medical premiums, etc. Total up all fixed expenses.
- Flexible expenses include items that are necessary, but in which you can control the amount of money spent on, such as household and grocery items, clothing, utilities, etc. Total up all flexible expenses.
- Discretionary expenses are items that are not necessary for survival. These could include expenses for recreation such as movies, travels, and impulse buys. If your expense to income ratio is out of balance and you are spending more money than you earn, items from this category should be eliminated or cut back.[4] Total up all discretionary expenses.
- Subtract the total amount of expenses from the total income for the month. If the expense total is less than the income total, then you are managing your finances well and should keep up with doing so. But if the expense total is greater than the income total, you are off-track financially and need to prioritize expenses.
- If your budget is feeling pinched, take a look at flexible and discretionary expenses. Check your bank and credit statement to see what you spend money on, or sign up for a personal finance application online. This will help you track what you spend money on that's not absolutely essential.
- Keep track of when you use credit cards. Did you know that people who use credit cards are more likely to spend more money than people who use cold, hard cash? That's because cash "feels" more real, so it hurts more than credit. Try carrying only cash around and see if you spend less.[5]
- Look to see how much you spend on eating out, on your morning coffee from Starbucks, on watching movies in the cinema, and other costs you can cut back on. Many people need their Starbucks fix, even if there's a coffee machine at work. One cup of coffee per day, at $2.50 per cup, equals more than $900 per year! Think about what you could do with $900.
- Begin to have the tough discussions about what you can cut back on or cut out altogether. Whether this conversation is made with a spouse or with yourself, try to be honest, forthright, and understanding. Nobody likes cutting back spending, even if it needs to be done.
- Look at how much money you now have left from your income, after the expenses have been covered for. This is the only amount that is yours to spend if you aim to be debt-free. If you get paid weekly, make sure enough money is set aside to meet the monthly bills. Never borrow from the amount that should be used for monthly expenses. This reserve method will save you from living paycheck to paycheck.
- Review the budget plan during the end of each income period, in order to ensure that you stay on track. Compare actual expenses against what you budgeted. If there are glaring variances, you might need to make adjustments on your discretionary expenses. As time passes, you may want to only perform this comparison on a quarterly basis.
[Edit]Sticking to Your Budget - Seek out technological help. If you're the old-school type who loves to balance their checkbook, more power to you! But know that emerging technology is making it easier than ever to track your expenses in real time, and with more sophisticated software. Mint.com, Quicken, and wallet.ai are all powerful online tools that will help you keep track of expenses and budget for the future.
- Don't give it all up at the first sign of failure. Budgeting is like dieting. A lot of people start with majestic intentions. Then, when they fail to see results within two months, or when they start getting bored, they throw their hands up and quit, telling themselves it's not worth it. Don't give up before the battle has even started. Prepare yourself by acknowledging that budgets take a lot of time and a little effort.
- Try to give yourself a full year of budgeting to determine whether it makes any difference in your finances. If, after a year of steady, scrupulous budgeting, it still hasn't made a dent in your savings or put a wad of cash in your pocket, feel free to re-evaluate. You won't be disappointed.
- Start contributing to an emergency fund. No, an emergency fund is not the same thing as your savings fund. An emergency fund is 6 to 12 months' worth of living expenses, frittered away for — you guessed it — an emergency. What if you lose your job? What if your daughter needs to go to the hospital? A host of emergencies can potentially burn a hole in your pocket. Being prepared is the best step, and one that makes a difference in your budget.
- Spend your tax refund wisely. A tax refund, if you're entitled to it, can be a huge windfall. Imagine getting a thousand, or two thousand dollars, without really expecting it. Knowing how to spend this potential windfall, however, can be pretty tricky, especially if you're barely above water. Think about contributing to your emergency or savings fund instead of spending it on a new flat-screen TV.
- Pay off your debts slowly but surely. According to AARP, American households hold an average of $8,400 in debt.[6] That's a lot of cheese — a lot of cheese you owe somebody else. If you happen to pay off your debt each month with your income, that's great. But if you're like many other people, you might be struggling to pay off your debts each month, meaning that you have to attack things a little more strategically.
- Which debts to you pay off first? High-interest debt or low interest-debt? Attacking low-interest debt and paying off certain debt lines altogether is called "snowballing." Attacking high-interest debt first is called "avalanching."[7]
- If you're highly-motivated to pay off debts, go for avalanching. High-interest debts can gather up lots of compound interest fast, making this approach ultimately cheaper. If you need help motivating yourself, however, you might want to try snowballing, even if it means you'll pay more.
- Try to cut down your expenses. Get rid of any unessential spending like eating out or expensive entertainment. Consider taking public transportation rather than owning a car. Clip coupons, buy generic products, and avoid impulse purchases. Above all, stop incurring new debt. Contemplate getting a debit card and cut up and cancel your credit cards.
- Create a spending plan that permits you to diminish your debts. Catalogue your necessary expenses, such as housing, health care, and optional expenses, like entertainment and vacations.
[Edit]Related wikiHows [Edit]References [Edit]Quick Summary |
| How to Reduce, Reuse, and Recycle Posted: 15 Nov 2019 04:00 PM PST You may be familiar with the motto from the environmental movement, "Reduce, Reuse, Recycle." These three actions are focused on reducing waste, whether through the conservation of raw materials and energy, or the reuse and recycling of products. You can do your part in reducing waste by watching what you buy, by supplying your own packaging, and carefully considering what you do with each item you purchase once it is no longer useful to you. There are also simple habits you can develop that will allow you to consume less water and electricity and being green isn't time-consuming. It saves you money and you derive a sense of satisfaction from making environmentally friendly choices [Edit]Reduce Your Use of Materials and Energy - Buy products with less packaging. Avoid single-serve or individually wrapped items.[1] Shop at stores that have bulk dispensers for grains, nuts, dried fruits, and snacks. Bring your own plastic bag or container to put the bulk food in. And try to buy bulk sizes of food or sanitary products, which saves on packaging.[2]
- When buying produce at the grocery store, avoid packing the product in an extra plastic bag if it isn't necessary. Vegetables such as potatoes, onions, peppers, tomatoes, beets; and fruits such as bananas, apples, plums, and melons shouldn't require an extra bag.
- Instead of buying canned soup or pasta sauce, read up in a cookbook how prepare these at home.
- Practice "precycling" by only buying products whose materials can be recycled.[3]
- Take a reusable bag with you shopping. Take durable canvas or synthetic-fiber bags, a backpack, or a basket with you to the store, enough to hold whatever you plan on buying.[4] These can usually be bought at the stores themselves. A heavy-duty plastic bag that you use multiple times can serve the purpose almost as well.
- Do without disposables. Disposables contribute large amounts of waste to our environment. They include things like plastic forks, knives, plates, and cups. They also include things like diapers and razor blades. Instead of buying items that you'll throw away after using them, buy items that you can use again and again. For example:[5]
- Instead of using disposable diapers, try cloth diapers or nappies. You will have to clean them more often, but you'll reduce waste.
- Get a razor with replaceable blades rather than a disposable razor. You'll still have to throw the old blades away, but you'll save the plastic handle.
- For picnics, serve with re-usable plastic or wooden plates, cups, and utensils instead of disposable paper or plastic ones.[6]
- Cut down on electricity use. Turn off or unplug any electrical appliances that aren't being used, such as the TV, radio, stereo, computer, lights, or chargers for cellphones or mp3 players. Try to wash clothes by hand, and dry them outside as much as possible. And if you purchase appliances, such as dishwashers, washing machines, and dryers, choose ones that are rated with the Energy Star classification.[7]
- Replace all incandescent lightbulbs with Energy-Star-rated compact fluorescent lightbulbs (CFLs), which can save you $6 in energy costs per year.[8]
- Try towel drying your hair instead of blow-drying it.
- If it is cold inside your residence, just put on a jacket or sweater instead of turning up the heat.
- Use less water. Try to reduce your shower time to between 5 and 10 minutes. Turn off the water when shampooing or scrubbing. Take fewer baths as well, since they can consume more water than a short shower.
- When you brush your teeth, turn off the faucet between soaking and rinsing the brush.
- Stop junk mail and paper billing. If you're receiving junk mail, call the sending company's 800 number, usually found on the offer or order page, and ask to be removed from their mailing list.[9]
- Request electronic bill instead of paper ones for all your utilities, member dues, and other periodical payments. You can choose this when signing up for an account.
- If you are already receiving paper bills, it is not too late to change. Access your account online or by phone, and see if you can switch to electronic bills instead.
- Consider alternative transportation. Try to walk, bike, or take public transit to school or work. If possible, invest in an electric or hybrid vehicle--these options are more fuel-efficient and emit less carbon into the atmosphere.
- Organize carpools with your neighbors or co-workers to reduce fossil fuel use.
- Choosing a residence as close as possible to your place of work will reduce both your commute time and energy consumption.[10]
- Take the stairs. Escalators and elevators are convenient, but sometimes they are not necessary, especially if you only have to travel 1 or 2 floors. Not only will taking the stairs save electricity, but you'll also get some exercise in. You also won't have to wait in line.
- Escalators and elevators cost money to run. By taking the stairs, you may see lower prices (if you're at a shopping center) or a higher salary (if you're at an office building).
- There are instances where taking escalators or elevators may be necessary, such as if you have an injury, a bad knee, or need to get to the 24th floor.
[Edit]Reuse a Variety of Goods - Save packing materials. Hang on to any boxes, envelopes, and other packing materials from products you buy or receive in the mail. You can repurpose these when you need a container to put gifts in before wrapping them, when mailing envelopes or boxes, and when you need packing materials, such as styrofoam peanuts, for a shipment.[11]
- Boxes can take up a lot of space. Save 1 box to store all of your packaging materials in, but fold the other boxes up so that they take up less space.
- Buy and donate used clothing. Shopping at thrift or consignment stores is an excellent way to pass up energy- and materials-wasting new products. To support these stores' operations, get in the habit of regularly clearing out your closet, garage, and basement to find items you're willing to donate.[12]
- You can also hand clothing down to your siblings. If you and your wears wear a similar size, consider trading outfits with them.
- When donating clothes, make sure that everything is in good condition. Don't donate old, worn, dirty, or torn clothing.
- Purchase reusable products. Favor food products packaged in reusable jars, bottles, and recyclable plastic bins. These can be useful for storing leftovers.[13] And by using nickel-metal-hydride (NiMH) rechargeable batteries, you'll avoid contributing to the toxic waste source of disposable batteries.[14]
- Instead of buying bottled water, fill up a reusable plastic bottle or glass jar from the faucet. If you buy bottled water for health reasons, get the largest size available to cut down on packaging waste.
- Use washable fabric handkerchiefs and dinner napkins instead of disposable tissues.
- Opt for a used car. It takes a considerable amount of energy and raw materials to manufacture a new car. Buying a compact, fuel-efficient used car keeps you from contributing to this waste and the pollution it produces. These vehicles also will consume less fuel, while taking up less space on the roads and in parking lots.
- Look for cars from the 1990s or early 2000s that typically get 30-40 miles per gallon, such as the Geo Metro, Ford Festiva or Aspire, Honda CRX HF, Toyota Tercel or Corolla, Mazda Protege, or Dodge Colt.[15]
- Buying used motorbikes and bicycles can also save resources.
- Save plastic and paper bags. You can reuse them to carry your groceries or even as trash bags. They're also good for storing partially-used produce in the refrigerator, protecting fragile or potentially leaky items in a suitcase, and for general carrying around.
- Use a plastic shopping bag for small trashcans, instead of buying small garbage bags.
- Some stores sell nice reusable bags. Consider getting a few of these and keeping them in your car so that you can use them when shopping.
- Turn old materials into art. Fabrics, papers, cardboards, metals, and plastics can all be easily used for arts and crafts. Some items can be purely decorative, such as collages, while other items can be more useful, such as coin purses. For example:
- Transform old magazine photos into a collage.
- Turn plastic bottles into coin purses.
- Make a scarecrow for your garden out of old clothes and packing materials.
- Turn mason jars or metal cans into planters for your herbs.
[Edit]Getting Into the Recycling Habit - Shop for recycled products. Check the labels of paper, plastic, and metal products to see if they were made from recycled materials. Look for a phrase near the barcode that says something like, "This product was made from 50% post-consumer recycled material."[16]
- Some items are made from biodegradable materials. For example, some plastic and straws are made from biodegradable corn.
- Sort your recyclables. Near your kitchen garbage can, arrange a separate waste bin or bag to hold glass, plastic, and metal recyclable materials. Place another container nearby to hold newspapers and cardboard, if your city requires these to be disposed of separately.
- Not all cities require you to sort recyclables. Check with your city's recycling rules regarding sorting, pick-up times, etc.
- Not all plastics are the same. Some of them can be recycled while others can't. Check the numbers on the bottom of your plastic item, then refer to your city's recycling rules.
- Take advantage of your local recycling center. If curbside pickup up of recyclables is not available in your area, locate the recycling facility nearest to your residence. Be sure to note the hours of operation, since some centers have limited access times.
- For example, do an internet search for "[the name of your city or county] municipal recycling facility."
- Some recycling centers pay you to bring recyclables in.
- Check local restrictions. Take a look at the FAQ webpage for your city or county's recycling facility, which should list which materials that are and are not accepted for recycling. Materials such as styrofoam and some plastics are commonly turned away by recycling centers.
- On the bottom of plastic containers, look for a number surrounded by three arrows--the universal recycling symbol. The number is an SPI Resin Identification Code, which indicates the type of plastic.[17] The lower the number, the more likely it will be accepted.[18]
- Recycle old electronics. Computers, cell phones, tablets, stereo equipment, microwaves, and similar devices contain toxic metals and other chemicals. It's best to have these recycled to reduce their environmental impact. Check with your local recycling center about drop-off times for electronic devices. Or donate your equipment to a local non-profit, such as a community center or veterans' association.[19]
- Some computer companies, such as Dell, offer to pick up your unwanted computer free of charge for recycling.[20] Hewlett-Packard recycles ink cartridges, laptop batteries, and cell phones, among others.[21] Apple offers a gift card in exchange for your old computer.[22]
- Compost your food and yard waste. Instead of throwing away what you don't eat, and tossing your landscaping trimmings, why not put them towards a compost heap for your garden? This way you'll save on fertilizer, and spare your city some change in reduced waste pickup. You can buy a plastic compost bin at most garden centers.
- Commonly composted materials include vegetable and fruit scraps, egg shells, straw, hair and fur, coffee grounds, tea bags, horse manure, grass and plant cuttings, and leaves.
- Avoid composting dairy products, meat and fish, cooked foods, weeds, tissues, treated or colored paper, and coal ash.[23]
- To have a more significant impact, encourage your friends and family to reduce, reuse, and recycle as well.
- For a new and cool way to put your hair up, use some chopsticks in your bun instead of buying a new plastic clip.
[Edit]Related wikiHows [Edit]References [Edit]Quick Summary |
| How to Help Someone with Stress Posted: 15 Nov 2019 08:00 AM PST Seeing someone you care about struggle with stress can be difficult. If you think a friend or loved one may be stressed out, you can help them cope by offering emotional support. Just being there and listening is often enough to help a stressed person feel better. If they want more practical help, sit down with them and talk about what's causing their stress. Suggest some coping strategies and look for ways to help make their problems more manageable. [Edit]Being Present and Supportive - Check in with your friend or loved one to see if they're okay. If you're concerned that someone you know may be dealing with stress, reach out and ask them how they're doing. This can not only give you a better idea of what's going on with them, but will reassure them that you care about them and are thinking about their wellbeing.
- Say something like, "Hey, you've seemed kind of anxious and tired lately. Is everything okay?"
- If they're not in the mood to talk about it, respect their wishes. Just let them know that you are there if they ever want to talk.
- It's possible your friend or loved one doesn't even realize they are stressed out. Asking them how they're doing may encourage them to reflect on their feelings and recognize that they are struggling.[1]
- Let them know you are there for them. Your friend or loved one may be afraid or embarrassed to reach out for help or support.[2] Without being pushy or confrontational, let them know that you are worried about them and assure them that you want to help.
- Try saying something like, "I'm concerned about you, and I'd like to help in any way I can. Please don't be afraid to talk to me or let me know if there's anything I can do."
- Ask them what you can do. Don't assume you know what someone needs when they are stressed out. They may be looking for practical solutions, or they may just want to vent or even find a distraction from their worries. Instead of rushing to try and solve their problems, ask them for guidance about what you can do.[3]
- You could start by simply asking, "How can I help?"
- If they're not sure how to respond to such an open-ended question, offer some specific suggestions. For example, "Do you want to talk about it?" or "Would it help to go do something fun for a while?"
- Listen to them if they want to talk. Sometimes just talking it out can help stress feel more manageable. If your friend or loved one says they want to talk, listen actively to what they have to say. Let them do most of the talking, and resist the urge to jump in or offer suggestions unless they ask you to.[4]
- Give them your full attention while they are talking. Put away your phone and turn off any noisy distractions, like the TV or radio.
- Be empathetic and ask them questions to let them know you're listening and encourage them to reflect. For example, "Wow, that must have been tough. How did you feel when he said that?"
- Don't be afraid to ask for clarification or rephrase what they are saying to make sure you understand them. For example, "So, it sounds like you're feeling really overwhelmed with school work and also having some tension with your girlfriend. Is that right?"
- Validate their feelings. Resist the urge to tell them to "snap out of it" or say things like "Cheer up, it's not so bad!" Don't judge their feelings or try to compare their suffering to someone else's.[5] Instead, let them know that it's okay for them to feel the way they do.
- Try saying things like, "That sounds really difficult. I'm so sorry you're going through all that."
- Reassure them that their situation can change. When someone is stressed, they can begin to feel hopeless or overwhelmed, especially if they can't see an obvious end in sight. Let them know that their current circumstances and feelings aren't permanent, and that things can change for the better.[6]
- You could say, "Hey, I know things are pretty awful right now, but I really think it's going to get better. This semester will be over soon, and then you'll have a chance to rest."
- Challenge their negative self-talk without being confrontational. Some people tend to get down on themselves or become unrealistically negative when they're stressed out. If you hear your friend or loved one doing this, gently challenge their statements and encourage them to think more realistically.[7]
- For example, if they say, "Ugh, I'm such a failure. I can't do anything right," respond with something like, "Sure you can! Remember what a great job you did on that project last month?"
- Avoid vague or confrontational responses, like, "Stop talking that way! You know that's not true."
[Edit]Offering Practical Coping Strategies - Help them identify the causes of their stress. Stress often occurs when someone is overwhelmed with too many problems or responsibilities. If your friend or loved one wants help coping with their stress, offer to sit down with them and try to pinpoint exactly what's stressing them out. This is an important step towards making their stress feel more manageable.[8]
- Brainstorm with them about what their biggest stressors are. They'll probably have some ideas of their own, but you can also help by offering your own observations or asking questions.
- For example, you might ask things like, "How are things going at work? Are you getting enough sleep?"[9]
- Work with them to find solutions to solvable problems. Some sources of stress—like terrible winter weather—may be totally outside of your loved one's control. Others, however, may be more manageable. Help your friend or loved one identify problems that are within their control. Then, work on breaking those problems down into bite-sized pieces so that they seem less overwhelming.[10]
- Make a list of their stressors and try to pinpoint which ones they can control and which ones they can't.
- Maybe a messy house is one source of stress for your friend, but the task of cleaning up feels overwhelming. Say something like, "Okay, let's take it one room at a time. How about we start with the kitchen and go from there?"
- You can also encourage them to drop obligations that aren't really necessary or are causing them undue stress.
- Share some of your favorite stress-relieving strategies with them. If you have any positive strategies for coping with your own stress, talk to your friend about them.[11] Don't pressure your friend into trying something or suggest that it's guaranteed to work for them. Just say something like, "You know, when I'm feeling overwhelmed, it really helps me to take a break and go for a walk."
- Some good stress-relieving activities include meditating, doing yoga, doing something creative, listening to peaceful music, reading a book, or spending time with friends.
- Invite them to do something fun or relaxing with you. Spending quality time with someone you care about is a great way to minimize stress. Encourage your friend or loved one to take a little time off from their worries and do something with you that you both enjoy.[12]
- For example, you might invite them to go see a movie you've both been excited about, take them to an art class with you, or invite them out for coffee at their favorite café.
- Physical activity is another great stress-buster, so consider going for a walk or playing a round of squash at the gym.
- Offer to help them with some of their responsibilities. If your friend or loved one is stressed because they have too much on their plate, taking some of the pressure off them can be a big help. If you're able to take over any of their obligations or responsibilities, offer to do so.[13]
- For example, you might say, "Hey, how about I make dinner tonight so you can relax for a bit?"
- Don't offer to take on anything that you aren't confident you can handle—otherwise you may cause yourself undue stress!
- Encourage them to seek professional help if necessary. Sometimes, your friend or loved one's stress may be too big for the two of you to handle alone. If you're concerned about their wellbeing and don't think you can do enough to help, urge them to talk to their doctor or a counselor.[14]
- If you're really worried about them, you could call a local crisis line and ask for advice. They can offer tips on how to help your friend cope or connect you with resources that can help.
- If you're a minor, talk to a trusted adult about what your friend is going through. You could reach out to a parent, a teacher, or your school counselor or nurse.
[Edit]Expert Q&A - What to say to someone who is stressed?
Recognize that there is something going on with them that they are not happy with. They are perceiving a situation to be somewhat threatening to them, which is causing the stress. The person might have entered survival mode. Ask the person how they feel about the situation and have them explore their perceptions and thought patterns around the situation so that they can get to know themselves better and start destressing. - How do you calm a stressed person?
Start by taking a step back, pausing everything, and looking at the trigger. Turn their attention to their thoughts and emotions and help them connect with their feelings. Help them describe what is going on and what the trigger event was and why they are taking it personally. They can then shift their attention away from the situation and onto other things. - How can I help a friend who is stressed?
Ask your friend to go and investigate what is happening. Have them ask themselves about the triggering events and help them connect to their feelings about the situation. They need to internally go through their thoughts and feelings and how they are perceiving the situation. - Someone you know may be stressed out if they always seem tired or irritable, have trouble concentrating, aren't eating or sleeping well, or don't seem to enjoy things they usually like doing.[15]
- Don't forget to care for yourself, too. Helping someone else cope with their stress can be stressful in itself. If you're not calm and relaxed, it will be harder for you to help your loved one. Step back and take a break if you need to.[16]
[Edit]References |
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