Determine Your Income and Fixed Expenses
This week, you can
• Figure out your income
• Calculate your fixed, or discretionary, costs
• Assess your job security
THIS WEEK, WE BEGIN OUR LOOK AT the money you have coming in (income ) and going out (expenses). In other words, we’re taking an aerial shot of your financial landscape. I’ve allotted two weeks for this task so you won’t feel rushed. This week you determine your income and fixed expenses, and next week you do the same for your variable expenses.
You’re free to go through the material for each week in one sitting. It’s equally effective to divide your time into several work sessions. You probably won’t know most of this information off the top of your head, so you will have to do ...