Simply put, a budget is the product of adding up all of your expenses and subtracting from your monthly income. Harper adds that there are essentially three types of expenses people incur and those are fixed, variable and periodic expenses. Fixed expenses can include things like rent, cable and car payments. Expenses like electricity, gas and water are considered variable expenses. People have more control over variable expenses because those expenses are based on the amount of product used.
Periodic expenses are the expenses most people forget to factor into their budget.
These expenses can include gift giving, clothes and insurance. Credit card management and budgeting are not the only services Consumer Credit provides. Consumer Credit has a debt management plan for clients who qualify. Clients will work with a counselor who will work with the client's creditors to lower interest rates and debt payment. Consumer Credit's goal is to have their clients' debt free in four years or less.