Tag: expenditure

Whether suffering from long-term debt problems, or simply looking to reduce personal debts after an expensive season such as Christmas, the creation of a personal debt management program is always a good idea to improve long-term financial health. Creating a Debt Management Program: Income and Expenditure In the first case, one should consider that the key to good financial health relies upon a healthy balance of income and expenditure. Debt can only ever be managed effectively where total income exceeds total expenditure on a regular basis. Start the process by making a list of all the sources of income for the household on one side of a page and a list of all the sources of expenditure on the other. If the total expenditure of the household is greater than the total income, then...