| Where does the idea of sitting down a
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| | What are your goals?
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| coming up with a personal budget rank on
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| | Thanks to your software program, you've
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| your list of "things I can't wait to do"?
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| | just discovered how much per month you
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| If you're like most people, it's probably
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| | drop on those gourmet coffee drinks you
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| somewhere between jabbing a fork in your
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| | love so much, great. But now what? Now
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| ear and getting a root canal. Can't say
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| | you need to set some goals for yourself.
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| we blame you, devising a budget for
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| | Don't be shocked if your report says
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| yourself is definitely not the most
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| | you're spending more than you earn. It
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| stimulating activity in the world. But
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| | seems unfathomable, but Labor Department
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| for financial well-being, it's an
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| | statistics show that many families who
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| absolute must. It needn't be too painful
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| | make less than $50,000 are spending a bit
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| though. With today's technology,
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| | more than that annually. If you're one of
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| budget-making is pretty much a snap. Just
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| | them, it's time to slash your spending.
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| remember, the goal of creating a personal
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| | Even if you're not in that boat, there
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| budget is threefold:
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| | are still probably a few expenditures you
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| 1) to list your expenses,
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| | can do without.
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| 2) to set future goals, and
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| | As a general rule, you should reduce your
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| 3) to cut costs to meet your goals.
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| | spending to 90 percent of what you bring
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| Where does your money go?
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| | in. The rest of that money should go into
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| The first part is always the hardest when
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| | savings and, or investments.
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| it comes to starting a budget. You need
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| | Slash and Burn
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| to find out where your money is going on
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| | Upon further review of your budget, some
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| a monthly basis. You could dig into bank
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| | cost cutting measures will become
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| statements, credit card receipts and
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| | painfully obvious. Eating out and other
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| check ledgers, then hand write every
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| | entertainment costs will probably stick
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| expense you come across on a sheet of
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| | out the most. Expensive clothing might be
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| paper. That's one way to go. The other,
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| | another. Search for those small, trivial
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| simpler way is to use the amazingly
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| | costs that you can do without and
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| intuitive personal finance software
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| | eliminate them. You won't miss them.
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| that's available today.
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| | While the little things can kill, there
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| Programs like Quicken and Microsoft Money
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| | are also bigger costs you can probably
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| were built to help you track your budget.
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| | reduce. Take a deep, long look at your
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| Simply input your expenditures, divide
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| | lifestyle. Is your car a little too
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| them into categories (e.g. auto, food,
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| | luxurious for your pay scale? Are you
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| clothing) and subcategories (e.g. fuel,
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| | dining at five star restaurants a little
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| dining out, shoes) and boom, the program
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| | too often? Are weekend getaways becoming
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| will spit out a detailed report of your
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| | routine? If so, cut back. It may not be
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| monthly income and expenditures.
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| | pleasant, but it's necessary.
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| An even easier way to track your budget
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| | Finally, take a look at things like your
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| is through online banking. Most banks
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| | bills and taxes. If the mortgage you're
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| offer a service where you can download
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| | currently paying is two or more percent
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| past account activity and plug it
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| | higher than what's available, look into
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| directly into a finance program. It some
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| | refinancing. When it comes to filing your
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| cases, it'll even categorize your
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| | tax return, make sure you're maximizing
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| spending for you. How easy is that?
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| | reductions.
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