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.
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