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Health & Fitness

Budget Mondays

Monday – 2/2/2014

It's Monday - a painful day for most people, yours truly included. Sometimes it is made even more painful as we remember just how much money we ended up spending over the weekend.

Budget

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It’s one word that can make people cringe, angry and sad all at the same time, a rare occurrence indeed. There are plenty of reasons for this - people are told at work that their budgets are being cut, their ideas cannot be funded because they are not in the budget, and in our personal life, our budgets don’t usually quite match up to our desires.

Every week we discuss tips and strategies to assist with budget tips, tools to assist with the budgeting process, and places to find more information. These tips, however, are only a piece of the puzzle when it comes to the budgeting process -- without an effective plan and action steps to help with budget construction and maintenance the best laid budget plains will not succeed. Budgeting is the basis for any well-thought out personal financial plan, and the basis for a solid budget is an effective plan.

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With that in mind, let's look at a few tips and strategies to assemble, maintain, and use budget effectively:

1) Know why you are budgeting

2) Have a specific, concrete long term goal in mind

3) Know how much you actually make

4) Have accurate data

5) Have checking and savings account that have useful budgeting tools incorporate by default

6) Keep it simple

7) Be realistic

8) Have a budget team

9) Set short-term goals and rewards

10) Don't be afraid to adjust

 Happy Reading!

http://www.thesimpledollar.com/preparing-a-budget-ten-tips-for-making-that-budget-successful/

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