How can I budget for both short-term expenses and long-term goals?

Financial Planning, Personal Finance
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December 2016
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Budgeting is a critical element of financial planning. The basics of a financial plan include income, expenses, assets, and liabilities.  When you budget, you need to estimate the individual expense items you are facing currently, the expense items that will be ongoing, one-time expenses that may lie ahead, and the impact of changes in your personal life (e.g., marriage, retirement, children, etc.).  Along with the expense budget, you will need to do the same estimating for income, including current earnings, prospective increases/decreases, nonrecurring income, retirement income, etc. When these cash flows are assembled with the details of what you own and what you owe, you will have an understanding of your current situation and the resources that will determine whether you will have enough to live in your preferred lifestyle in the years ahead. It's a matter of assembling all of your financial information and comparing it with your goals.

December 2016
December 2016
December 2016
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