STEP 1 – Income, Expense, Budget, Assets, Liabilities, Net Worth
Step 1 consists of Three Separate Tasks which are designed to teach you the elements of budgeting and money management. For best results, perform the tasks in order and try to master each one before going on to the next step.
Step 1 is the most involved step in the Money Action Plan System. If you skim through it you will be missing most of the basic training and information that will prepare you for future steps.
If you take this seriously, you will be defining your Money Action Plan (MAP) for life.
STEP 1, TASK 1 – List Your Income and Expenses
The objective of this task is to simply list all your income and expenses, nothing else. Make sure you are complete in your list.
The easiest way to do this so that you are prepared for future tasks and steps is to download and use the Money Action Plan Software.
An alternative is to download the Money Action Plan manual Budgeting Form.
Both the software and the manual form can be found on the download page.
For Help With This STEP, see the following:
Budgeting and Money Management – The Basics
This is Book 1 of the Money Action Plan Series which contains a detailed explanation of Budgeting and Money Management fundamentals, along with how-to’s on using the Money Management Software and the beginning steps in setting up your own Money Action Plan (MAP).