If you're new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!
This about.com Twelve reasons budgeting can improve your life article is hot on the internet right now, and for good reason: it offers good motivation to establish a budget. I’ve collected a pile of other budgeting links to share.
First, for those of you that haven’t read Twelve reasons budgeting can improve your life, the advantages of budgeting are:
- A budget helps you reach your goals (and keeps you from getting side-tracked).
- A budget lets you control your money instead of your money controlling you.
- A budget will tell you if you’re living within your means.
- A budget can help you meet your savings goals.
- Following a realistic budget frees up spare cash.
- A budget helps your entire family focus on common goals.
- A budget helps you prepare for emergencies.
- A budget can improve your marriage.
- A budget reveals areas where you’re spending too much money.
- A budget can keep you out of debt or help you get out of debt.
- A budget actually creates extra money.
- A budget helps you sleep better at night.
There are other budgeting articles at about.com, including Top three causes of budget failure (negative attitude, lack of motivation, and unrealistic expectations); How to set up a successful budget; Guilt-free budgeting: no blame, no shame (in which the author offers the following steps to setting up a budget: 1. Set up categories, 2. Calculate budget amounts, 3. Record your expenses, 4. Set goals and make adjustments); and The secret to successful budgeting.
My favorite about.com article discusses What makes a good budget? The answers:
- Categories that fit your personal situation and your spending habits.
- Accurate income projections.
- The right number of categories: not too broad, but not too specific.
- Inclusion of expenses that don’t occur on a monthly basis.
- Regular review of categories.
- Cash expenditure tracking and recording.
- A line item for savings.
- Realistic written goals.
- Identification of spending patterns.
- Internal motivation and a positive attitude.
Remember that the freely-available PearBudget is an excellent introduction to budgeting. Also check out previous budgeting advice at Get Rich Slowly.
.jpg "The Money Blog Network - Improving your bottom line")
October 27th, 2006 at 8:59 am
[...] Pick up a pen. Write down a budget. Budgets aren’t for everyone (I’m not a budgeter), but for some they’re a powerful tool, giving an overview of their financial health. Even I write down a budget now and then, just to get an idea of where my money’s going. [...]
November 29th, 2007 at 8:34 am
I am great with a budget as long as I am beholden to someone other than myself. If it’s MY money I can easily justify not following it. But if it is a work budget, I keep track of everything. Same with deadlines.
November 29th, 2007 at 3:20 pm
If you’re not a fan of the written budget, you might try what I did in college and up until I was married. I used three envelopes - one for food, one for miscellaneous expenses, and one for entertainment. My rent and utilities were paid by check. Into each went the alloted amount for the month. When said alloted amount was gone, I didn’t spend any more in that category. No saving receipts, no forgetting to write down a purchase, and no credit card debt. It did mean that dinner was occasionally rice with bean curry and that I didn’t go out to the movies. But that’s the price of fiscal responsibility.
January 18th, 2008 at 12:04 am
[...] link to check from very different sources: Why Budget – Tulip Tree Press How Budgeting Can Improve Your Life - Get Rich Slowly Budget, creating a blueprint for smart spending – [...]
January 18th, 2008 at 5:05 am
[...] your goals yours. At last count, there were 4.7 billion urgent things I needed to do to improve my finances, health and life - know that feeling? Ignore the noise and pick the goals you’re most [...]