Presentación sobre presupuestos

Esta fue mi presentación sobre un tema que me parece interesante: presupuestos, gastos, ingresos, egresos, eso. Practicando el English.

Today I am going to talk about a relevant topic during adulthood. I hope it will be useful to you in the future.

Don’t worry! This will be explained in layman’s terms. Budgeting refers to the action of doing an estimate of income and expenditure over a given period of time, and how you are gonna spend what you earn. By the way, the time periods are mostly months.

Here we can see some of the processes done when budgeting. These can vary in nature–for example, you can calculate a single-month expenses in a pie chart, or you can compare the invoice expenditure of several months in a bar chart.

I hope you can clearly appreciate this budget. However, bear in mind that the task of allocation for each different aspect of your life is completely different from one person or organization to another. In the end, the most important thing with our budget is to approach the balance of our finances. Balance for everything, keep it in mind.

After you successfully plan your budget, you have the duty of forecasting and keeping up with your current spending habits. Nonetheless, you are not obligated, by any means, to cut down what you think are essential expenses. What you should do instead is to extend and get the most out of a realistic budget. Speaking of which, practicing responsible budgeting ensures that you will always have enough money for the things you need.

Regarding unnecessary expenses, I recommend you avoid mandatory banking fees, connect to Wi-fi instead of cellular data whenever possible, and prevent smoking, taking into account the health benefits it gives. Although these payments may seem like micro-expenses, when they accumulate over time they become budget-destroying tools, so to speak.

I advise you consider two methods to get out of debt: the snowball and avalanche methods. With the snowball method, list your debts from smallest to largest and focus on paying off the smallest debt first while making minimum payments on the others. Then, apply the extra money to the next smallest one, creating a snowball effect of motivation. As an alternative the avalanche method involves prioritizing debts with the highest interest rates, paying those off first to minimize interest costs.

When talking about budgeting benefits, it is important to know that forecasting your spending makes you capable of saving for an emergency savings account, a first home, home renovations or a worry-free vacation.

Not only that, but budgeting enables you to make realistic assumptions about your annual income and expense and plan for long term financial goals, like starting your own business, buying an investment or recreation property or retiring.

Now that you have all these tips, what are you waiting for? Start becoming the financially-stable and debt-free person you want to be in the future.