Hi, I want to know about the details of budgeting, there are how many types of budgeting and where can I find the details of budgeting. Can anyone guide me about budgeting? Thanks in advance.

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Well, the first thing you need to do is write down all your income that you currently have and then write down all your expenses.

I guess that you will come up with a negative balance hence you look at budgeting (but I could be wrong about that).

Look at your expenses, is there anything that you can minimize?

List your most important expenses first (mortgage or rent, debt payments, insurance, etc.)

How much of a deficit do you have after you list income and expenses?

You should focus on cutting everything from your expense column which is an unnecessary expense until you erase the deficit.

You have plenty of options and without more info it is really tough to give you any specifc advice.

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It is not smart to play it safe but it is safe to play it smart.

Budgeting is really simple. As far as I know there is only really one way to do it. Sit down with a paper and pencil and make a list of all of your income sources every month. If it is not stable then try to figure out what the average value is. Add all these up and this becomes your total monthly income. Do the same with your expenses. Some are obvious like the mortgage and car insurance bill, but some are difficult to estimate like groceries and misc entertainment. Do your best to guess what you are spending where you don't know. THEN you MUST track your expenses (and income) after that. Otherwise, how do you know if you're meeting your budget or not? You'll probably be surprised at how far off your buget you are for some categories, but this is GOOD because these are the places where you can find some savings. Who knew that you were actually spending $500 a month at restaurants? This will help you get a reign on these activities. I recommend keeping track in a spreadsheet (check out my sig) or with Quicken. The hardest part is TRACKING your budget once you have one. Only THEN will you realise where your money is going and try to correct your financial problems.

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I actuallly use my credit card statements to help me tabulate my expenses......
Its free and its accurate....thing is it does not show all my expenses...as some of it is in cash....those i give an approximation

I am not a big advocate of using your CC for that purpose.

My recommendation is to use you CC for what it is designed to do and use it smart to avoid the debt-trap.

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It is not smart to play it safe but it is safe to play it smart.

Hi, I have tried to put budgeting for my income and expenses but i couldn't make a proper budgeting for my business. Is there is any online program that will help me to manage my finances? If anyone know about online program on budgeting guide me, thanks in advance.

You might have a hard time getting a mortgage if you don't budget.

Hi,Plz anyone can explain the meaning of mortgage in this context:
"The man sends his paycheck to the bank for the mortgage payment on his house."

Mortagage mean debt that you loan for bank, it can be house loan, credit loan, car loan, and all thing you can loan from bank...And all these things mean debts for you to be pay for in time... Furthermore, budget is the limit able to handle...


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a penny a day, make life better always

Budgeting made simple.

Figure your expected income will be 25% less than normal and unexpected expenses will be 25% more than you thought.

Then live within those guidelines.

Simple, but not easy.

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Gary Spicuzza, *SAFE
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*Self Appointed Financial Expert