Step 5: Budget Your Spending
Positive Discretionary Income
You need positive discretionary income for the BLOC program to be successful.
This means your income must be greater than your monthly expenses. The higher your discretionary income, the faster the BLOC payoff.
If you're living from paycheck-to-paycheck, you need to conduct a budget analysis to reduce your monthly expenses.
- helps you keep track of your monthly expenditures
- limits your spending to a pre-set amount
- forces you to find alternative, less expensive items
- allows you to set goals such as paying down your mortgage
- prepares you for emergency spending
|we have complete information on budget planning|
|use these budgeting worksheets to analyze monthly expenses|