There are so many different budgeting tools and systems that you can use to help you manage your finances. We often get pigeonholed into one favorite system or another. Or, we only consider one option as the “right” way to budget. But, what budgeting system works best for you? How do you balance your checkbook? Balancing Your Checkbook Through The 1-800 Number I had this amazing conversation with a coworker last week, and it struck a chord with me and inspired a little bit of a revelation. I used to always joke with my wife. When I met … [Read more...] about What Budgeting System Works For You And Your Family?
This post may contain affiliate links, and I will be compensated if you make a purchase after clicking on my links. A new report from the Federal Reserve found that, as of June 2017, the amount of outstanding credit card debt in the United States is at the highest level it has ever reached in the country’s history. The previous record was set in April 2008 – just before the recession – but now that the economy has vastly improved, why is there so much credit card debt in the U.S.? Some economists have argued the ease of access to credit … [Read more...] about Top 3 Way You to Can Create a Cash Only Budget
Many people only consider reducing their expenses when times are tight. But, there is only so much your budget can take in the way of belt-tightening. There are two sides to the budget equation. Another way to tackle the problem is to look at the other side of the equation. You can help your struggling finances by increasing your income as well. Understanding The Accounting Equation Or Budget Equation On the first day of an accounting class in college, the professor put the accounting equation on the board. It is an equation that … [Read more...] about There Are Two Parts To Your Budget Equation
Do you know how to budget? A lot of people hate the B word. I have to admit it myself that I do not enjoy budgeting. Many people try to fake it by simply calling it a "spending plan". But, budgeting is a great way to make sure that you have enough money to pay the bills each month. It is also a way for you to save for different financial goals you may have in life like retiring early, finishing your bucket list, or sending your children to college. The hardest part of budgeting may be simply starting. So many people do not know where to … [Read more...] about How to Budget – Getting Started Budgeting with Your First Budget
When you assume the responsibility of running a household, you also must take an accounting of the costs it takes to make a house a home. In effect, how to run a household can be likened to running a business if you want your home life to be successful. That is why budgeting is so important in maintaining your home for you and your family. For example, just like a business, you should take an inventory of all those items you have on hand in your home for insurance and financial purposes. How to Run a Household Like a Business The Importance of … [Read more...] about How to Run a Household Like a Business and Maintaining a Budget
With the rise of the gig economy and the availability of independent contracting jobs outpacing the availability of employee jobs in some industries, many people are increasingly concerned about income stability. On one hand, flexible work arrangements are ideal for anyone who wants to decrease time spent commuting to and from work, start a family without losing an income stream, travel and work remotely, or simply work on a schedule more suitable for their lifestyles. On the other hand, contract jobs can lead to irregular income and … [Read more...] about 5 Ways to Stay Afloat When You’re Without a Paycheck