Start the New Year With a Budget
Monday December 29, 2008
The best thing about a new year is that you have a good reason to create new habits - like using a budget. If you didn't use a budget in 2008 or you used a budget but it didn't work out right, 2009 is a good opportunity to start again. In tough economic times, a budget can help you prioritize your spending and stretch your paychecks further than you could imagine. A budget can even help you figure out how to pay off your debt.
Here are step-by-step instructions for creating a budget, including a printable worksheet you can fill in with your numbers.
Comments
as long as you are making New Year’s resolutions, why not made some regarding your personal finances.
The more credit cards you have, the more tempting it will be to spend on things even if you don’t really need them. So think really hard before you acquire a new card. The more debts you have, the harder it will be for you to pay up. This holds true despite the various payment schemes that are made available by the credit card companies.
The use of a budget is greatly misunderstood. Especially if you are in debt, the budget is a MUST. You must get your income to be more that your spending and then strictly stick to that. Anything extra should be place in a bank where you cannot get at it easily. Get used to the saving routine. Don’t make the I’ll buy this just this one time, because that one time will get more frequent with time and you are even deeper in debt.