By now, you’ve set up your budget.  You are aware of what your goal is in setting up your budget.  It could be as simple as being able to pay off your debt within a certain amount of time, or as complex as being able to invest for retirement.   You’ve spent hours looking through your invoices and statements t more ...

Fixed Expenses Note: This term is used to describe items that must be considered each month, not items that either can be "postponed" or that may be one-time, or non­recurring, expenses. While some amounts can vary widely from month-to-month, it is a simple task to figure out an average monthly payment. Add y more ...

It is tempting to skip buying insurance if you’re living on a budget.  After all, why spend money for something that you cannot hold, and does not fulfill the basic needs of food, clothing or shelter. more ...

1. There are good debts and bad debts. Some good debts can turn out to be bad. You take good debt when the debt adds value to your life, and when the benefit for the use of the debt is long-term or permanent. Examples of the use of good debt are for college education, a home that builds equity and enhances yo more ...

One of your budgeting goals may be to have extra money that is not spent during the month. You may be accumulating this extra money to spend on something big within the year without going into debt – for things like a new furniture or gadget.  For this, you need to accumulate your money in a savings account.  more ...

When your income is not enough for your everyday needs, budgeting can only help you in a limited way, and you are still going to experience financial problems.  The only solution for this would be to add a second income by taking a second job or have a member of your family find work.   Sometimes this is also more ...