The best magazine
- 1). Create a strict budget. List all of your monthly mandatory expenses and discretionary expenses. For example, the rent or mortgage is a mandatory expense, whereas going to the movies is a discretionary expense.
- 2). Compare the total monthly mandatory expenses to the monthly Social Security disability payment. The leftover amount is the amount of money that will be available for discretionary spending. The amount of discretionary spending is the maximum that can be spent in the month. If more than the discretionary amount is spent, there will be a net loss for the month.
- 3). Break down the monthly budget to a weekly budget to track expenses weekly. Simply divide the monthly income and expenses by four to determine the weekly discretionary spending.
Source: ...