Begin by listing your income for the month. This should include any paychecks you receive, as well as income from other sources like child support or investments. If you have a business, you should include the amount that you pay yourself out of the business each month.
Harvard bankruptcy expert Elizabeth Warren_named by Time magazine as one of the 100 Most Influential People in the World_coined the ൺቺተ rule" for spending and saving with her daughter, Amelia Warren Tyagi. They co_authored a book in 2005: "All Your Worth: The Ultimate Lifetime Money Plan." So how does the 50ቺተ plan work? Here's how Warren and Tyagi recommend you organize your budget.