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Kathy Griffin?s Take on Financial Planning Finance Articles | August 13 Dam Nike Air Max 97 Ultra Barely Grön Svart , 2006

Kathy Griffin has some wise insight on finances and money management. If you listen to her advice you may find yourself in a much better financial situation and if you don?t listen to her advice she my make fun of you on her show someday!



During an episode of My Life on The-D List, Kathy Griffin?s reality show, she made wise cracks about actors and actress and their finances. Kathy?s comment was that she hates it when she hears actors and actresses say, ?I don?t do the ?business thing?. I am an actor.? Kathy?s sarcastic, yet true Herr Nike Air Max 97 Plus Röda Svart , remark about why this bothers her is that ?business thing? is PART OF YOUR JOB. You need to learn the business end of things. You, as an actor or actress, are your own business and have to run your professional life and personal finances as a business.


Think that doesn?t matter to the average Joe? The reason this is such an important point is that it is pertinent to all working people. You spend such a great deal of time working to make money but most spend so little working on how to make that money work for you.


How do you learn to handle your finances?


While all of us might not have the A-List actoractress income to manage everyone should manage their money. The first step is Money 101: Create a Budget!


Alarming Statistics


One-half of American households have accumulated less than $1,000 in ?net financial assets?, the value of money in the bank Nike Air Max 98 Grå Röda , stocks, bonds and other securities after subtracting loans, credit card debts, and other secured debt




A majority of Americans in households with incomes of $35,000 or less believed that they are more likely to accumulate a $500 Superme x Nike Air Max 98 Svart Guld ,000 nest egg by winning a lottery or sweepstakes (40%) than by patiently saving and investing of relatively modest sums (30%).


- Project C.A.S.H.


START MANAGING YOUR MONEY BY CREATING A BUDGET


1 ? KNOW YOUR TRUE INCOME


Start with the basics. Identify how much money you make.


Begin by figuring out your net paycheck and multiplying the number of checks you receive per year then divide by 12 (months in a year) or taking your annual net income and dividing it by 12 (months in a year).


For example:


If you are paid weekly $1200 then your monthly income is


$1200 x 52 (weeks in a year) = $62,400 12 months = $5200 per month


2 ? MAKE A VERY, VERY DETAIL BUDGET


What are your actual expenses? Take a look at how you are currently spending your money. By looking at your current spending habits you can identify areas where you need to modify spending. Some ?necessities? are often luxuries we like to think of as necessities (morning coffee, dining out, new shoes for every new outfit Herr Nike Air Max 98 SE Team Röda , etc).


It is smart to evaluate your current spending and set goals that take into account your financial goals. Once you?ve set your budget, STICK TO IT and track your spending to make sure it stays within the guidelines you?ve established.


It is important to detail every standard monthly expenditure you have.


Be realistic on how much you actually spend. Look at how much you spent last month these items and you may be surprised.


Here is a sample list of expenses:


EXPENSE #1


Savings - 10% of income (remember PAY YOURSELF FIRST!)


Household Expenses


Mortgage or Rent


Home Owners Association


Food


Groceries


Dining Out


CoffeeTea


Lunches (kids)




Electric


Gas


Cable


Trash


WaterSewer


DSL or Highspeed Internet


Telephone


Home Office Supplies


Personal Expenses


Car Payment


Car Insurance


Gas


Health Insurance


Medications


Cell Phone


Club or Membership FeesDues


Clothes


Shoes & Accessories


Toiletries


Subscriptions


Entertainment (movies, theater, amusement parks, etc.)


Debit Payments


Credit Card Payments


Loan Payments


Student Loans


SecondThird Mortgage Payment


Boat Herr Nike Air Max 270 Flyknit Oreo Svart Vita Sverige , Motorhome, Time Share Payment(s)


Medical Bills


If you have children


TuitionDay care


Clothes


Sports, classes or club fees


School expenses (formals, pictures, uniforms Herr Nike Air Max 270 Flyknit Svart Vita Sverige , etc.)


Babysitting


Miscellaneous Expenses


Special Savings (see #3 for more explanation)


Include any items omitted from the above list that you spend money on


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