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If Nat and surface-to-air missile were 25 years old, theyd be pretty comfor turn off, because they have mint candy of time to pay off their mortg mature and build up their super. If they were 55 years old, theyd be facing some just problems with so much debt and so little super, even if they kept working money box 65. When you draw up a similar table for yourself, premiere look at what changes have occurred. Then think about your age and how much longer you expect to work to see if you are likely to be comfortable or if you face some serious issues. Are you saving any money? Record every your income and expenses for a month, as we have for Nat and surface-to-air missile in the table opposite. Nat and Sam, who both work and have two children, are doing well to relieve $230 each month. However, their debts take up a lot of their money, and $230 wint stretch far. Theres also not much get on for them to put extra money towards paying off imparts or twist up money for their childrens education. Looking at your own income and expenses is a initial step in budgeting, and shows if youre making progress, standing still, or going backwards. Your currency 6 Your Money 7 TIP: List each loan repayment as a separate expense, then convert everything into monthly figures.

Income Income Converted to monthly amounts Sams take home pay $1,572 fortnightly $3,417 Nats take home pay, whole kit and boodle part time $960 fortnightly $2,087 Family tax benefit $2,352 yearly $196 Total income $5,700 Expenses Expenses Converted to monthly amounts post mortgage repayments $1,843 monthly $1,843 railway car loan repayments $463 monthly $463 Credit card interest payments $492 yearly $41 Car running costs $4,356 yearly $363 Food and groceries $250 weekly $1,083 Holidays, pleasure $100 weekly $433 All other costs (school, clothing, medical, insurance, repairs, rates, water, electricity) $1,244 monthly $1,244 Total expenses $5,470 What Nat and Sam save each month +$230 If you want to get a full essay, order it on our website: Orderessay

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