What are examples of necessities?

Necessities are those items or services you absolutely must buy with your income. Necessities include basic food, clothing, shelter, heat, and medical care.

thebalancemoney.com - Create a Budget for Your Income and Necessities - The Balance

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To create a budget, you need to compare your regular income to the cost of necessities. If you find that your income is less than you need to pay for necessities, you will need to find a way to lower costs or increase income. If you find that your income is greater than the cost of necessities, you have money left over to spend on discretionary (optional) items. Income is all the money you bring in each month, including salary and tips, and money you receive on a regular basis from family, investments, or any other source. What it doesn't include are special gifts, bonuses, or windfalls. You can't count on such income, so it's wise to leave it out of your budget. Necessities are those items or services you absolutely must buy with your income. Necessities include basic food, clothing, shelter, heat, and medical care. Other necessities relate to your daily obligations. For example, you may need transportation in order to make a living, or you may need to purchase a uniform in order to keep your job. In some case, necessities may also include loans or educational costs.

Using Budget Sheets to Manage Income and Necessities

Budget sheets, or spreadsheets, are a great visual tool for tracking income and costs. With a single glance, you can see what you spend and how your costs compare to your income. Furthermore, research has shown that those that budget are more likely to be financially healthy. To get started, you'll need to collect all your pay stubs and other income information as well as your receipts for a whole month. If you use a debit or credit card to pay for necessities, that information will be on your monthly statement. If not, you'll need to collect the receipts yourself.

Track Your Income

This sheet is where you'll track the money you bring in each month. If you're not sure (because, for example, you earn tips that vary each month) you'll need to keep a careful record for at least a couple of months. For now, though, you can estimate your tips.

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What is another name for a pillar?

Pillar is interchangeable with the word column, though you can't always use them in the same contexts.

vocabulary.com - Pillar - Definition, Meaning & Synonyms - Vocabulary.com

pillar

If someone describes you as a pillar of strength, he's saying you're reliable and supportive, much like a pillar or column of a building that helps hold the structure up. The spelling of the word pillar looks like it has two pillars right at its center, holding the word up. Pillar is interchangeable with the word column, though you can't always use them in the same contexts. While a column and a pillar are both physical cylindrical structures, a column can also be the row running up and down on a chart, while a pillar is often someone or thing that is considered a foundation or support. Someone indispensable to your company might be considered a pillar to the organization.

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