Budget Project Part 2. Business & Marketing Essay
***** PLEASE make sure you answer all the teachers questions throughout writing the paper, linking it back to websites sources. She is frugal..... (Being my chart told me I save to much money, we probably need to find a website that tells me what I should do with my money. Some way that I should invest it, stocks, a cd, or something.... and why..... (It will give me more of an income to fall back on at retirement age if I need more money) ( or it could be that I am saving it for my children's investment after I am gone) ** Just an idea) Another example..... I could donate more money into charities. I like the Billy Graham Charity, or any childhood cancer (DIPG) is a good one. We need a cure still. The paper said my charity giving was a little low , lol
Budget Project
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These days, it is too difficult to bring in a lot more money than we need to spend at home. However, there are some straightforward ways to reduce our spending (Cagen & Colgate, 2011). As is clear from this worksheet, we made $3,300 in June and $4,000 in July. The total monthly expenses for June were $2,500 (saving us $800), and for July, they were $3,200 (saving us $800). I think saving $800 a month is not enough as the money we spent in July was $800 more than what we spent in June. It was better for us to save a total of $1,600 in July rather than only $800, doubling our savings compared to the previous month.
Our financial situation is stable, but the expenses are going up on a monthly basis which is a matter of great concern. In June, we spent nothing on charity, and it was better for us to donate at least $300 to an NGO or a charitable organization (Johnson, 2013). And when we earned a lot more than this in July, we donated only $50 to a charity, and this amount could be increased if we had cut down on our expenses that month.
When it comes to comparing the worksheets of June and July, we can observe that on housing, we spent a total of $1,500 ($750 per month) during these two months. Similarly, we spent $200 on transportation in June and $350 in July, and this is where the discrepancy comes from. It was better for us to spend nothing more than $200 on transportation in July. Doing so, we could easily save $150 on transportation that month and donate at least $200 to the charity (Stouffer, 2008).
Throughout June, we spent $640 on food, $200 on clothing and $250 on recreation. In July, our foo...