A personal budget is key to keeping track of your money. It’s important to keep track of not only what’s coming in, but also what’s being spent and where it’s being spent. Knowing the percentage of your income allocated to spending, investing, and saving is important for turning your budget into a planning tool instead of a static report. Ratio guidelines may vary depending on what you want your budget to focus on – for example, getting out of debt or delivering maximum savings – but the ratios here provide a starting point towards your specific goals.
Determine Your Income
The income calculation is a starting point, as all ratios are driven from this total. Be sure to include all sources of income received in the household. This can include salaries, commissions, bonuses, investment income, rental income, consulting income, and other sources of income that contribute to your budget. Items that vary monthly, such as commissions and bonuses, may be averaged over time; that average should be used in calculating your total income.
Each expense or savings category will then be divided by your total income to come up with your ratio. Ratio guidelines vary slightly depending on your source, but those listed throughout this article have been compiled from sources such as CNN Money, Dave Ramsey, and Forbes.com, and are intended to be a good starting point.
Start With Housing Costs
Housing costs include items such as a mortgage or rent, home or tenant insurance, property taxes, and additional amounts for smaller home repairs and improvements. The utilities in this section include bills for electricity, gas, water, telephone, and garbage collection. Your rent or mortgage payments should be no more than 20 to 25 percent of your income. When adding up other expenses in this category, your ratio to the total should be 30 to 40 percent of your income.
Combined Transportation Costs
Costs in the transportation category include payments for vehicles, gas, insurance, taxes, and additional amounts for repairs and maintenance. If you live in a big city and use public transportation, or have to pay tolls or park at your workplace, these fees should be included as well. This category is no more than 15 to 25 percent of your income.
General Cost of Living Pictures
The cost of living includes many things. It’s also one of those categories that can expose problem areas in your budget, while also highlighting areas for improvement where additional savings can be found. Examples of items that fall into this category are medical and dental expenses (if not deducted from your paycheck), child care, camp or after-school care for children, groceries, entertainment, dining out, clothing and vacations. Also includes small items like dry cleaning, magazine subscriptions, and club memberships. This category should account for 20 to 25 percent of your income.
Add Debit Payment
This category includes additional items that require you to make payments each month. Examples include credit card payments, store credit cards, student loan payments, and home equity line payments. Debt payments should not be more than 5 to 10 percent of your income.
Include Savings Goals
Savings is the most overlooked part of a personal budget, but it’s also one that shouldn’t be overlooked. Savings starts with building a rainy day fund of at least six months of income to protect against unexpected events such as job loss. The higher your income, the bigger this fund. This is the priority of your savings plan. Once your rainy day fund is established, you can then apply your savings to special projects or retirement investments. Savings within 10 to 15 percent of the income range should be considered a minimum.
Review Your Budget
Once you’re sure you’ve accounted for all expenses, review your ratio. The more detail you include in your budget, the more accurate your ratios will be, and the more useful this powerful budget tool will be.
How to Properly Cancel a Check
Many people have good reasons to cancel their checks. They may wish to void a misspelled check. Sometimes people accidentally write the wrong amount on a check, so the check needs to be voided. Sometimes, voided checks are required to set up direct deposit, or even electronic bill payments may be required. It’s not difficult to cancel a check. Of course, be sure to invalidate your check to prevent anyone from fraudulently using your check. To learn how to properly cancel a check, it’s important to keep the following tips in mind.
Avoid dominating property
If you want to clear checks that are still held by you, you will need a pen. You should avoid pencils as this removes the lead. Pen ink is permanent. The key is to use a writing instrument, which uses indelible ink. Those who are fraudulent can easily erase your “invalid” flag and write themselves a check.
Write the word “Void”
You will need to write “VOID” on the check that is usually paid to the recipient. Anyone who sees “VOID” on the payee line of a check will understand that your check is legally voided, even if the amount listed or the check happens to be signed, it’s a piece of useless paper, avoid The check is no longer viable or usable, and the amount is written cannot be cashed or used to pay the bill.
Add “VOID” to the payment box
Even if you’ve written an amount in the payment box, write “NOT” on it in dark ink. Blanking the main part of your check ensures that your check is used as little fraudulently as possible. Make sure you write the words as clearly as possible to avoid “VOID” errors.
Don’t skip the signature box
Yes, you should most definitely enter “VOID” again on the line you would normally sign on a check. Even if you have signed the check, be sure to write “VOID” above your signature in dark permanent ink. Many people are surprised that identity thieves can steal your money. Writing blanks in every major part of a check reduces the likelihood that someone will use it for fraud and use it to steal your money.
Both sides of the check are invalid
To prevent someone from finding an uncashed check and using it for nefarious purposes, you can also write “VOID” in capital letters on the front and back of the check. Some people just take the step of capitalizing blanks on the front of the check. However, there is also added security to write blanks in multiple places on the check to invalidate it.
keep a record
Naturally, you should keep a record of all voided checks. This is easy to do if you keep a paper record of your checks, but you can also do so on an online bank account. It also helps to add a quick note on why you canceled the check. You may have written the wrong amount. You may have written your check to the wrong payee.
decline direct deposit
For example, many times you may be asked to provide an invalid check if you are signing up for direct deposit into your account from your employer. Employers can keep checks to obtain a copy of the bank’s transfer number and checking account number. The payer needs this information to transfer funds to your account.
How to Cancel Checking Direct Deposit
If you leave a check for a vacancy with your employer, follow all the steps listed earlier in this list. Make sure every major section you check contains the word “VOID”. Rather than using any non-descriptive pen ink, consider using a Sharpie or writing instrument to make it clear that it’s permanent ink. This way, if your check is lost, it cannot be changed.
You can also cancel checks online if desired. Today, most online banks allow their customers to use a quick “stop payment order” to void online checks. Typically, you will need to log into your online checking account. You may need to visit the Customer Service section to find out how your particular bank has set up this feature. If you’re in trouble, you can always contact your bank and they can walk you through the process of stopping your payment, which essentially voids your check.
Double-check the information
If you do need to stop paying but are not sure if the online payment is correct, call your bank. However, make sure you have all the relevant information handy so bank staff can help you with the process. You will need the date of the check, the check number, and what the check is for. With these tips in mind, you can successfully and safely cancel checks.
Do you need life insurance once you retire?
Life insurance does not have to be exclusive to young people. It can also help retired people.
Times have changed, before it was taken for granted that by the time parents reached a certain age, their children were already independent and parents would not have any type of outstanding loan.
Now, the crisis has meant that many children have to continue living with their parents and that they still have mortgages in progress.
In addition, life expectancy has increased. Men live an average of 78 years, and women 84. In Spain, according to a fairly recent study, there are more than 8,500,000 people over 65 years of age.
Naturally, insurers have had to learn to adapt to these changes and offer their life insurance to seniors and retirees as well. The requirement to be able to hire him is based on the fact that they will have to carry out medical check-ups so that the company can determine the risk. Clearly, the cost that the fees will entail will not be as cheap as for a person who is much younger.
Life insurance is a policy in which the person who is insured protects their relatives, always depending on the coverage contracted and the amount of the premium paid and protects them in two cases:
- If the insured person dies, some eye med insurances usually advance an amount of money, destined to cover the expenses of the burial.
- If the insured person were to suffer an accident and survive, but the income of the dependent relatives is reduced in some way, the insurer will pay the established compensation.
Hiring life insurance as a retiree can be a really interesting offer that we should all consider since we never know what can happen to us, and above all for two fundamental reasons:
- Economic peace of mind for the person who is insured and also for their loved ones.
- Protection against any unforeseen event or accident that we may suffer.
The main coverage offered by this type of insurance is the payment of the stipulated capital in the event of death. However, there are many other options that you should know and take into account, such as:
- Repatriation. If we die outside of our city, the company will bear the expenses generated by the transfer.
- Disability due to a traffic accident. If the disability is caused by a traffic accident, the policyholder will receive an additional amount to the one he contracted in the policy.
- Death due to a traffic accident. The beneficiaries will obtain additional money for the amount of the insurance itself.
- Death of policyholder and spouse in an accident. The successful bidder or the children will receive an amount equal to that stipulated in the insurance for death in another situation.
- Psychological counseling. If the insured dies, their first-degree relatives may receive assistance from this professional.
It is true that both life insurance and funeral insurance are responsible for facilitating the situation for family members when the insured person dies. However, the purposes are different.
The first is in charge of financially compensating the beneficiaries so that life changes as little as possible, at least in economic terms. In addition, if the insured person does not die, it is he who receives the compensation, in case of disability.
On the other hand, funeral insurance deals with paying the expenses of the burial and its procedures.
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COMMERCIAL GROUNDWORKS IN BIRMINGHAM
The term “groundwork” refers to a lot of different things. Some of these tasks are done on most ground sites, while others are done on smaller construction sites. Contractors may use different people to do different parts of the groundwork. However, it’s becoming more and more common to hire a single contractor to do all the groundwork. There are a lot of commercial Groundworks Birmingham that do things like prepare the ground, build foundations and floor slabs, and make the site ready for above-ground construction for shopping centres, markets, and restaurants, among other things. The stages of groundwork may include:
At a building site, excavation work includes understanding the central line and drawings of excavations, drawing an arrangement on the ground, excavating and getting rid of extra soil, etc. Quality checks, such as recording ground level and marking control points, had to be done. Excavation is moving rocks, earth, or other things with different tools or explosives. This also includes channels, divider shafts, burrowing, and work done in the ground. This is the start of a project to build something.
Reinforcing or securing
It is the process of making the foundation of the building stronger. Changes in soil structure, whether due to soil type or an outside force on the soil, are usually the cause of this.
Drainage and Sewerage
Floor drainage systems do an excellent job of getting rid of surface water and separating structure channels from sewers, making it difficult for smelly and harmful substances to get into the structure. They also help limit the number of particulates that come out of the pipes, and they give practical advice on how to clean them.
Ducting for power, gas, phone, and cable
Underground ducts that carry electricity, phone lines, cable, and natural gas need to be looked after as part of the groundwork. This makes sure that the ducts work correctly and that they move freely.
Forming of the Concrete Foundation
The concrete substructure is the part of any building built below the ground level that is the farthest away from the ground level. The job of the underground part is to move the weight from the top to the soil below. In this way, the base is in direct contact with the soil beneath the ground’s surface. The foundation and basement of the building are part of the substructure.
Foundations & Floor Chunks
The floor slabs are the parts of the building that are made of concrete and steel. They are made to help the structure of any building. They are used to build the floor of the basements, the ground level, or the next level.
Driveways and roads:
It’s made by adding asphalt and other things like soil stabilizers, concrete, and more to make the walkway smooth and easy. Which makes it easy to control the traffic flow between the two places
External works show the areas around any building. These areas include minor streets in a residential area, paved areas, railings, limit dividing walls, fencing, and turfed areas. For people who don’t know what they’re doing, soil settlement, weather damage, substance attack on materials, mechanical damage, and defacing are some of the main problems with the outside work. Craft, soil settlement, weather damage, substance attack on materials, mechanical damage, and defacing are some of the things that can happen to your home or business.
The beginning stages of any groundwork project can have a lot of different phases or parts to them, which can then go on to the end of the project. For example, adding high-quality soil to gardens when the site is close to finished is a good example. Choosing a single project contractor for any groundwork allows them to work better together, communicate better, have more responsibility, and pay less.
As far as commercial construction in Birmingham goes, before any work can start on any site, all preparations and administration must be done. So, each design or building needs to be built on a solid base. The structures or building’s whole weight will rest on the base. This means that the groundwork is essential to the progress of any development project.
Strong and Stable Bases
Commercial groundwork includes ground inspection, site clearing, construction of a substructure, ground adjustments, landscaping checks, foundations, and underpinning, as well as the ground itself. A structure or design needs to have solid substructures or foundations to support the structure’s weight or design and keep it safe from wind and floods. They also keep moisture from getting into the structure’s construction. Foundations must be efficient and must be put in the right place. Because the whole structure is built on solid, strong groundwork, you need to hire an expert company to help you with this. They know how to pick the best way to ensure the structure or construction has a stable foundation.
This can cause many problems and be very bad if the foundations that are set up are wrong or can’t support the weight of the structure that may be built on top of them. There is a chance that if the foundation isn’t strong enough, then the structure could fall and hurt people inside and outside of it. This could even kill people.
Groundwork in Birmingham
There are a lot of groundwork companies in Birmingham that do all the essential work before construction starts, and they are essential. They let construction companies start their work when they know that all of the critical groundwork has been done and that the foundations are strong enough for the structure or design.
One of these companies is Crimscote Construction Limited, which is very important (CCL). It is a construction company that is based in Birmingham. They do the groundwork for both businesses and homes. As a bonus, they also offer civil engineering services. One of the main things that this company does is to help businesses and private contractors, as well as local governments, with their construction projects.
It also gives its customers a complete, full-scale groundwork and civil engineering package that they can choose from. It is the best at providing development services, including new construction, private and business development, renovation, and new and improved buildings. This means they have the ability, experience, and skills to meet your needs, no matter how big or small your project is.
The company is very good at providing GROUNDWORKS SERVICES. It has groundwork administrations like:
- Site clearance
- Building a foundation
- Supported large designs.
- Walls holding
A groundwork project worker was set up in 1965. They have been working on building projects in Birmingham and the West Midlands for more than 40 years! It has worked in the construction and building industry for a long time, which has helped them build up a good reputation as an independent and skilled ground project contractor. They have long-term relationships with their clients, who trust them to lay the groundwork for their building and development projects.
The company has a group of contractors who are both skilled and experienced. They have the most up-to-date GPS and laser devices and are well-trained to finish the job quickly and at a reasonable price. Their project planning and the skills of the executives will also help you keep everything on time and budget without breaking the rules for safety and the environment.
As a groundwork service provider for small and medium-sized construction companies and businesses, they do the work for them.
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