Get Half a Month Ahead

Dave is trying to help some young people determine the best way to do a budget. Cash is short at the beginning of the month, but at the end of the month, there's extra available. What's the solution to this issue?

QUESTION: Dave in New Jersey is trying to help some young people determine the best way to do a budget. Cash is short at the beginning of the month, but at the end of the month, there’s extra available. What’s the solution to this issue? Dave advises getting a half a month ahead.

ANSWER: You need to get a half a month ahead. That means we’ve got to cut down some of the other spending so we can gain a little ground. If they start running a half a month ahead, their money from the second half of the month is used to pay the stuff during the first half of the next month. That way, there’s always cash lying there. The new cash coming in is not to spend. The new cash is coming to replenish what was spent.

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