Personal Investment & Financial Planning Q`s/hello

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Expert: John D Smith, CFP - 7/27/2009


Question

budget
Hello. I have made an output table of my income and list of expenses. I am trying to do the following, but i am pretty new to this:
1)what can i do to balance (or create a surplus in) my actual (or fictitious) budget?
2)I want to write a short narrative report on what would need to be done to “zero” balance the budget for each out-of-balance category. What categories could be altered to create a “zero” balance if the budget were in a surplus?  

Answer
Hi. I aplogize, if my response does not answer your question as I am not sure I completely understand your question. If not, then please let me know. In the most simple sense, you either need to increase income or reduce expenses to balance your budget. Since the income piece is only one factor, this is pretty straigh forward. The expense reduction would need to be based on what you think is manageable across each category. I hope this helps.

John D Smith, CFP

Expertise

I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner (CFP) and have performed fee only investment management and financial planning services for the past 11 years.

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