Sign In
Not register? Register Now!
You are here: HomeResearch PaperLife Sciences
Pages:
2 pages/≈1100 words
Sources:
3 Sources
Level:
APA
Subject:
Life Sciences
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 17.28
Topic:

Best Ways to Budget Personal Finances Life Sciences Research Paper (Research Paper Sample)

Instructions:

What are the Best Ways to Budget Personal Finances?

source..
Content:


What are the Best Ways to Budget Personal Finances?
Name
Institutional Affiliation
What Are the Best Ways to Budget Personal Finances?
Management of personal finances is an effective way of dealing with competing financial needs. A budget helps an individual in reducing impulsive purchases and ensuring that urgent situations are addressed without difficulties. The financial plan outlines all the possible sources of income, and it stipulates all the areas that require financial intervention. A detailed personal budget helps one in making informed, accountable, and responsive financial decisions. Therefore, the best ways of personal budgeting include the assessment of the economic situation, prioritization through goal setting, and consideration of all opportunities.
First, evaluation of the financial position is a prerequisite step in the development of an achievable personal budget. According to Koh (2012), it is invaluable for one to evaluate his or her income sources, monetary needs, and savings prior to the development of a financial management plan. Assessing the financial situation also means identifying all the available assets and liabilities to have a holistic understanding of one’s economic status that informs what to be included in the personal budget (Murphy & Yetmar, 2010). It is also critical for a person to organize all crucial financial documents to ensure an adequate assessment of the situation when planning personal income. Such information may include receipts and annual or monthly bank details that help one in tracking all the cash flows in a given month or year. Therefore, assessing the situation acts as a compass that guides the process of personal budgeting.

...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Water Science. Life Sciences. Research Paper Assignment
    Description: Amount of rainfall; the level of response of a catchment depends on the amount of rainfall, the variation of its volume and intensity. The catchment response is weak when the intensity of rainfall exceeds surface infiltration capacity resulting to surface run-off (Fallon & Tate, 2003)....
    3 pages/≈825 words| 6 Sources | APA | Life Sciences | Research Paper |
  • A comparison of the cities of New York and Los Angeles Essay
    Description: Both New York and Los Angeles are some of the biggest cities in the US, each being home to millions of people. They are both based on the coast, although on opposite sides of the country, and are metropolitan locations with people from wide range of nationalities. An exciting aspect of these cities is that...
    8 pages/≈2200 words| 4 Sources | APA | Life Sciences | Research Paper |
  • What’s Killing American Black Infants? Life Sciences Research Paper
    Description: Infant mortality is considered a vital indicator as far as national population health is concerned. Before swinging into today’s topic, " What is Killing America's Black infants", it is in order to define the terms, health policies and strategies. Health policies and strategies are the goals of ensuring...
    2 pages/≈550 words| 2 Sources | APA | Life Sciences | Research Paper |
Need a Custom Essay Written?
First time 15% Discount!