Put into a savings account.
Spending money.
Profit
Profit and wealth is left after all the expenses of running a business are deducted from the income.
They are one in the same! Make a budget and you will save. For starters, write down all your madatory expenses (ie rent, bills, car payment, school, child care, groceries, etc.) There are some general rules, such as living expenses (including rent and bills) should not exceed 25% of your monthly salary. I personally aim for 20%, but its up to you. Take it from there. If you are going to make a budget, STICK TO IT!!!! save your receipts, keep records, compare prices. Make a spreadsheet with all your expenses to see where your money is going. Allocate around 10% or your salary to savings. A good motivation tool for me: At the end of the month, if I have cut down cost in a certain area and therefor have left over disposable income, I treat myself.
It depends on what your lender will allow you to do. Some will let you return the money, some will not. If they allow it, return it. If they do not, put it in a savings account and let it earn interest.
Put into a savings account.
Put into a savings account.
Take your monthly income and subtract your monthly bills and cost of living expenses (gas, groceries, etc.) The money that is left is consider disposable income.
1. Money left after a business pays expenses
Spending money.
ProfitMoney that is left after all business expenses are paid is called profit.
Profit
profit
Discretionary Income
I am a mother of 2. there are 4 in my family and my average monthly expenses is usaully around 5293.09. I have also looked to see what i would have left if i was a single mother and every month since all together i get 5852.70 i would have 559.71 left. I have a 6 year old and a 4 month old.
profit
Profit