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Personal Budget Items

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 your total payments for a four-month period, divide by four; this is your average monthly expense. A. ...

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8 Steps to Making A Budget

In a nutshell, the following are the 8 steps to creating your personal budget: 1. Set your goals Goals are what you want to achieve in budgeting.  Do you want to have a $5,000 savings within one year?  Get rid of all your debt in three months?  Or just have your income and expenses balance out? Goals should have a time-frame or a deadline.  They should also be specific and can be quantified (put numbers). A ...

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10 Benefits of Budgeting Your Money

Budgeting is the most basic and  the most effective tool for managing your money.  Yet, most people avoid doing it because it is additional work, much like cutting your lawn or fixing the roof.  Budgeting also connotes that you have to give up and stop yourself from enjoying stuff. What budgeting actually does is clearly show you how you allocate your money and present you the choices on what stuff to enjoy ...

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