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Budgeting

by Ryan Kendall

Often it is difficult to prepare an annual budget and is essential to recall the various aspects involved in this activity, some related to income and other related expenses, to finally arrive at a correct budget.

Personal Budget

Some concepts are calculated according to variables such as:

  • Intuition
  • Economic indicators
  • Offer
  • Demand
  • Achievement level of own resources
  • opportunities

The budgetary control generates the internal coordination of efforts, plan and control the operations that constitute the essence of planning utilities. The budget system provides a comprehensive picture of operations. At the same sales, purchases, costs and expenses are budgeted up to the potential future profits.

Personal Budget

The common question we ask is ¿what use is a personal budget? A budget is a plan of what you earn and what you spend, which allows us to plan and adjust what and how you use our money. Keeping a budget helps you understand the cost of your lifestyle, reduce anxiety to meet your payments, control our money or control our costs, leverage resources at every stage of our lives.

We must take the following steps:

  • Define your goals and aspirations well
  • Determine our income, debts, expenses and savings
  • Calculate how much money you have left

In general, having a personal budget allows us to plan better use of our money and helps us to acquire the necessary to meet planned discipline. We must first identify inflows and outflows of money usually have or perform for a period of time. These revenues or expenses must generally classify items such as employment, investment, food, education, services, etc.

For example, we should note how we usually earn per month as a result of our work, when we usually earn per month as a result of our investment when we usually spend on food, how transportation, etc.
We identify all items that we generate income and expenses, trying to separate as much as we can and be as accurate as possible when estimating the usual money generated by each game.

Draft of our personal budget

Once we have estimated how much we usually have as income and expenses per month, we had to prepare the draft of our personal budget. To do this, simply we drew up a box where we include all items that we generate income and expenses, as well as the amounts that we expect to have in each of these items for the following months.
Once you have prepared the draft of our personal budget, we analyze it in depth, and make adjustments or changes as needed.

The first thing to do is look at the balance at the end of the budget, which is the amount resulting from the difference between total revenue and total budgeted expenditures. We must ensure that this is positive, and that is an appropriate amount.

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Filed Under: Budgeting, Credits & Loans, Personal Investments, Tips Tagged With: budget, business, calculation, investment, loan, personal investment

My Personal Finance

by Ryan Kendall

Personal finance is an important part of our life plan, because helps to achieve what we want to achieve and resources involving economic.

My Personal Finance

Being able to give their children opportunities in life or retirement plan. The planning of our personal finances could be defined as the process that helps us to revise our financial situation, determine goals and achievable goals and develop strategies that will guide us toward achieving those goals. However, each person has different needs and goals. [Read more…]

Filed Under: Budgeting, Personal Investments, Retirement, Taxes, Tips Tagged With: budget, credit, finance, investment, personal investment, retirement plan

Purpose of a Personal Budget

by Ryan Kendall

Responsible stewardship of our money begins with the preparation of a budget. Knowing how much money we have and knowing our level of expenditure is the first step we must take if we want to achieve financial independence. If we have to build a house, the first thing we do is to make a plan. A personal budget is a plan for our financial well-being. The purpose of a personal budget is to create good financial habits, our personal budget, is what will help us to avoid problems caused by not having a structured roadmap with our expenses.

Personal Budget

The purpose of a personal budget is to create good financial habits, our personal budget, is what will help us to avoid problems caused by not having a structured roadmap with our expenses.

Budget, daily or monthly

A daily budget is the one that helps us in cases where it costs to make ends meet. However, it is conceivable that this is the most difficult of budgets and monitoring their level and complexity is high. Normally, it is common for people to make a budget in monthly intervals, where we see balance expenditure and income in each month.

The importance of following the personal budget

The importance of drawing up a budget is that we have a picture of the financial times we have, but its control and monitoring is even more important. Nothing better than having a budget when it comes to expenses, so we can consult or be aware of how much we have.

A budget is that, a number of expenses and revenues that have assumed or projected before it occurs. Therefore, we must be able to adjust whatever is necessary if what you have planned is not correct and so your personal finances do not suffer consequences and cause you a headache.

Carrying out a personal budget is very significant from the point of view regarded as a company: with limited resources to make ends meet, liquidity resources and money is not a matter of science fiction movies. Your budget has to be the script of your film to lead to a happy ending and can be corrected in time.

The advantage

A very important advantage of having a personal budget is the discipline that we gain with respect to expenditure and compulsive shopping. It’s not about not spending, but to do so in a correct and controlled manner.

Image courtesy of: talkaboutparenting.org, all rights reserved.

Filed Under: Budgeting Tagged With: budget, business, calculation, personal budget

Budget

by Kylee Sanders

 

Living from paycheck to paycheck? Finding it hard to budget your finances especially when you have bills to pay and things you wish to save up for? Managing money can be frustrating and stressful but do not let the headache of it all ruin you.  Learn to take charge of your finances in a way that works for you and live a stress free and more organized life with more money to do the things you wish to do along with savings for the future.

Budget

Managing money can be frustrating and stressful but do not let the headache of it all ruin you.

Begin by taking note of all the bills due and their due dates.  Write them down from the most urgent to the least urgent as well as how much is due.  All bills are important and need to be paid so make sure you take care of bills before anything else.  Budget money for bills and set that money aside so you are not tempted to spend it.  If you find that you do not have enough, check to see where you may be able to cut the amount you spend or contact collectors to see where a payment plan can possibly work out.  Remember, the more you pay bills on time, the better credit you may have and the better your chances are for certain financial goals and plans in your future.

Next, if you find that you have money left over after paying bills set up an automatic debit from your checking account into a savings account each month at a certain time to get used to saving.  Watch the money add up and get closer to your saving goals in no time.  Besides that, savings are important in case of emergencies as well as just to have for security.  Plan to save each month and make it easier by setting up an automatic debit with your bank.

And last but not least, if you are paid more than once a month- weekly or bi-weekly, daily even- consider working out ways to spread bills out so you have more finances when you need them.  Sometimes paying all bills at the same time can be a stress so ask about ways to change the due date. Furthermore, if you find that you cannot change dates, again, budget the money you need to pay bills early on- don not procrastinate- and put that money in a savings or aside.  When the due date comes pay it.  Or consider paying some bills earlier for more peace of mind and stability especially when you need it the most.

Image credit: blog.peachtreefinancial.com

Filed Under: Budgeting Tagged With: budget, family budget, paychecks

Cheap Airfares

by Ryan Kendall

 

The holiday season is on full swing, and you must be planning to go somewhere if you have already not reached there. If you are on a tight budget, getting cheap airfares will definitely be a thing on your mind. You may really find it so much happier if you get cheap airfares for the flights. Here we will give you some tips through which you may get better deals and fly with cheaper airfares.

Cheap Airfares

The holiday season is on full swing, and you must be planning to go somewhere if you have already not reached there. If you are on a tight budget, getting cheap airfares will definitely be a thing on your mind.

 

These tips will not help you get cheap deals during the holiday season, but they will be handy whenever you need to fly to your destinations. Read on:

  1.  Be flexible with your dates of travel – If you try saying that you insist on travelling on a certain date, then you will not be in a good situation. Instead, if can leave that insistence part, and be okay with travelling on a day before or after, then you may get cheaper deals on your flight tickets.
  2. If possible book two weeks in advance – If you where you have to go and have time in your hands, then book two weeks well in advance, preferably three weeks, would be best, if you want great deals on international flights. But on domestic flights, you may not be able to save as greatly as on international flights.
  3. Fly mid-week if possible – If you are not constrained by an urgent meeting or conference and have the liberty to reach anytime of the week, try flying mid-week. And Wednesday would be the best day.
  4. Flying to neighbouring airports is much more pocket friendly – If you have to travel to New York, then you can save plenty of dollars by flying in Newark, NJ airport than to directly land in a New York Airport. From there, you can take a train ride, which will definitely be relaxing to your pockets.
  5. Check round trips before finalizing on a one-way trip – You may be able to save a lot of money if you book tickets for a round trip rather than simply booking a one-way flight.
  6.  In the holiday season, try going on the holiday date – Most people book tickets for a day before and after the holiday dates, such as a day before Thanksgiving. But, if you go on the Thanksgiving Day itself, you will get cheaper airfares.

So, try these tips to reduce you expenses and use your money on other things which can make you or your loved ones happier.

Image credit: jetcharter.com

Filed Under: Budgeting Tagged With: budget, flight, travel

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