![]() ![]() Fixed costs (such as housing payments, utility bills, charitable contributions, insurance premiums, and loan payments).Separate your spending categories into main buckets.(This is an especially useful exercise if you have uneven income.) For instance, let’s say you spent $500 in January on groceries, which was 12% of your household earnings. Note how much you spent in each category every month, as well as what percentage of your monthly income that spending represented. Categorize all of your expenses over the past year. ![]() Add up your take-home pay over the past year.Most institutions let you export your transactions as a CSV file that you can open in Google Sheets, Excel, or Numbers. A year’s worth can give you a good sense of how much you tend to spend over a given period of time. Collect all of your bank and credit card statements over the past year.(Ever get hit with a large bill, such as for an auto repair or emergency dental treatment? Those kinds of things can throw your budget off track.) Spreadsheet-based budgets (and some other budgeting tools) prompt you to create a myriad of categories and assign a dollar amount to each one, which is not only overwhelming but also likely to fail. It tracks your spending, revolving bills, savings goals, and earnings history to estimate how much you have left to spend in a given month in any category you want. We recommend Simplifi for most people because it’s a happy medium between the two. Conversely, zero-balance apps encourage a more hands-on approach, forcing you to account for every dollar you bring in (X amount for savings, Y amount for rent, and so on), but they tend to be idiosyncratic and costly. Tracking apps offer a 30,000-foot view of your finances, display your transactions in real time, and require very little effort to set up. Sixteen of 2023’s 50 top-earning athletes are under 30, including five who are 25 or younger.There are two basic types of budget apps: trackers ( à la Mint) and zero-balancers. At 38, he may not be all that far from following Brady and Federer into retirement, but the list will be in good hands whenever he does hang up his cleats. Topping the list is Cristiano Ronaldo, who made an estimated $136 million over the last 12 months as he jumped from England’s Premier League to Saudi Arabian soccer club Al Nassr. The NBA has the most players of any sport with 15, but even more notable is the jump in golfers, a dozen of whom appear among the top 50, four times as many as last year, largely as a result of LIV Golf’s big upfront guarantees. The off-field figure of $1.08 billion-from athletes’ endorsements, appearances, licensing and memorabilia income, and other business endeavors-is also a new high, edging 2022’s $1.06 billion.Įven with the most daunting barrier to entry ever, 11 newcomers make the ranks, and six others return after an absence of a year or more. Of that new total, $2.36 billion came on the field in the form of salaries, bonuses and prize money-an all-time high, of course, smashing 2022’s $1.91 billion thanks in part to the Middle Eastern money pouring into sports. In all, the 50 athletes hauled in an estimated $3.44 billion over the last 12 months before taxes and agents’ fees, up 16% from last year’s record of $2.97 billion. The cutoff for the top 50 this year is $45.2 million, up an astonishing 20% from the previous record of $37.6 million, set just last year. That is no small accomplishment, even for such an accomplished trio. The three sports superstars, who combined for more than $2 billion in pre-tax earnings across their pro careers, are once again among the world’s 50 highest-paid athletes, giving them a combined 25 appearances over the last dozen years. T’s been eight months since Serena Williams and Roger Federer last took the tennis court, and four since Tom Brady stepped on a football field, but as they transition into their second acts, they are picking up one final, and fitting, honor. ![]()
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