How accurate is your family's monthly budget? Do you have false budget assumptions in your family's monthly budget? Do you guess at certain things that you put in it? You're not alone. A lot of people do not have the right math in their family's monthly budget. You need a budget, but you also need an accurate budget. Budgets are built on both facts and assumptions. You know exactly how much money your home mortgage will cost you. You know how much your car payment or credit card minimum balance payments are at the end of each month. But, … [Read more...] about Are Your Budget Assumptions Throwing Off Your Family Finances?
This is a guest post by David Silverstone who writes about personal finance, credit cards, and debit cards on the website, Credit Card Insider, which is a credit resource, providing plain-language guidance from industry leaders. Credit card debt is huge in the U.S. Last year, the average American household’s credit card debt was equal to $15,799. American consumers know that they need to eliminate this debt, but they also know that they will have large purchases to make in the future. These larger purchases may be necessities, such as … [Read more...] about How To Use Prepaid Debit Cards To Budget For Big Purchases
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 her … [Read more...] about What Budgeting System Works For You And Your Family?
I have to admit that when I stand in line at the grocery store (or any store for that matter) that I am always tempted by the impulse purchases in the racks by the checkout counter. What’s the harm in those little expenses incurred? It is only a dollar or two, right? But, those dollars add up. It is the little expenses in our lives that can really get us into trouble and knock our family’s monthly budget out of whack if we are not careful. The little expenses add up over time. We Study Large Expenses Incurred We bend over backwards to find … [Read more...] about The Little Expenses Incurred Can Quickly Add Up
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 accounting class in college, the professor put the accounting equation on the board. It is an equation that drives the … [Read more...] about There Are Two Parts To Your Budget Equation
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 … [Read more...] about How To Run a Household Like A Business And Maintaining a Budget
Most people do not think that they have enough money to save for retirement. I can remember asking my mother as a little boy if she had any investments, stocks, bonds, and the like. She told me that we barely pay the bills let alone invest for retirement. I’m here to tell you that everyone can find easy ways to save money from funds leftover in their budget to begin investing. The real problem is if you want to make room in your budget. Do you want to do without 200 cable channels? Do you want to skip the trip to the coffee bar every morning … [Read more...] about Top 4 Easy Ways to Save Money Every Month