Before I don't know how to budget. I spend money that it seems there's no tomorrow.Now I do really budget. Because it's really hard if you run out of money. All I do is I list all our daily needs not the wants. Wants come after if I have extra money left at the end of the month.

When it comes to a basic bottom line, this is the only good way to do things.
When people start with the "wants" before other issues are taken care of,
it's always when the trouble starts.

i read an article before which says that if it is possible at all, you must keep yourself from bringing your children to the grocery store, otherwise you will always end up blowing your budget. anyway, thanks for sharing that, brian. i guess that's one of the things i need to keep in mind. i don't usually have the discipline when it comes to buying some goodies or snacks. i always end up shocking myself that i get to pay a huge amount for such small products..

I am not really good at budgeting. But I keep trying. I should be really good at it because my mom and dad had a notebook and wrote everything down that they spent. Even down to a candybar. But I guess it did not rub oof on me.

You're not your parents. You can always search for budget worksheets and budget guidelines on the web. There are a lot of different ways to do it and I'm sure you'll be able to find one that works for you.

Well, this should be interesting even though a year old more posts. This is because I also find it. Any suggestion?

Thanks,

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My Financial Reference: www.debtreliefadvices.com

I've always had a budget for needs but I've never planned for the extra cash. So if my expenses are $5k/month, and I have an extra $1k/month extra, it goes into liquid savings. If my liquid savings exceeds 6-months of gross income, the extra gets put into investments.

However, I don't buy a lot of toys and consider some technology-stuff as "needs", even though I could probably live without it. But it makes my business better.

From the business side, every penny is tracked and I know each month what is already coming in and what is expected to be going out.

Really, I *have* to have a budget to know what my minimum expenses are because my income is consistent from quarter-to-quarter but can vary from month-to-month. For example, I expect to have little-to-no income in December. However, I basically earned the income I need for December back in September, so I have enough in cash reserves to make sure the bills get paid in December. And January is a huge month in my business, as is February.

John Commuta's Transforming Debt Into Wealth system is absolutely a great tool. There are fabulous budget worksheets in there and I have used them for a couple of years now. Really keeps you on track. His system is an investment, but worth it - especially if you can share it with family/friends who may be getting into debt problems (college students, newlyweds etc.)

I really have a need to budget for I have bills to pay, things I want to buy and things I want to save for. I think the best way to budget is to budget for a thing one at a time so that you could save up for that something right away.

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It is of utmost importance to learn how to handle money matters as well as one's health

My best advice is set up an automatic transfer to a savings account to save money and don't spend it