Home » Finance » Debt Consolidation

It Isn't Impossible To Stay On Track With A Budget

Feb 23, 2008
Have you ever been really excited about a raise at work, yet less than six months later you can't figure out where that money is? This is often due to a person not having a good budget in place. They simply are spending all the money they have and in some instances more than they are bringing in by relying on credit cards. You need to be very aware of what is going on with your personal credit.

You should do your part to be prepared as you never know what life has in store for you. It isn't always fair but things happen and we have to deal with them. You need to have a family budget established so you can be prepared for anything. If you have children old enough to be a part of it do so. This way they will grow up having a good sense of how to handle their own money.

Start out by writing down all of you monthly income and expenses. If you have a salary then it is much easier to budget. If you get paid hourly you should base your budget on the lowest possible amount of hours per pay period. If you work more that is great but if you don't it won't hurt your finances. Self employment is a bit trickier but you can make it work.

Once you make a list of your income and expenses you can get a good look at how much money you have left over. You may be surprised to find it is several hundred dollars. Why are you broke then so often between pay days? This is where you really have to start tracking your other expenses. How much do you spend buying groceries? How often are you eating out? What types of social activities do you engage in and what is the cost of doing so?

One of the biggest money eaters for people is extras that they don't account for. Do you even know how much money you spent last month at the grocery store? Many people don't. They just fill up the cart with what they want and then pay for it. You should have a set amount allocated for the shopping each week or every two weeks. Plan a menu and buy only what is on your list. You will save a great deal of money this way.

Each person in the family should get an allowance too, including parents. If you spend all of yours on coffee each morning then that is your choice. You may find you have to cut out some things in order to get your money to stretch. Children should be using their allowance to pay for extras they want such as CD's.

It does take some time to get your budget into place. You need to be very realistic about it though. It can take time to really be accepting of the changes you will have to make to your spending habits. Yet you will find you have money set aside for emergencies. Your basic expenses will be covered, and you will have more control over what it is being spent on.

If you need to add a special purchase to your budget make sure the entire family knows about it. You may want to put a set amount of money away for a year and then use it as a down payment on a new car. You may want to save money to take the entire family on a fun filled vacation. All of this is going to take planning how to spend and to save your money.
About the Author
Robert Bain is fascinated by the secret credit industry. He follows personal credit related issues such as credit cards, debt relief, car loans, debt relief services and scams bad credit cards offers. Don't reprint the same version as everyone else.
Rating:
Please Rate:
(Average: Not rated)
Views: 109
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources