What is a budget? Budgeting Tips
Do you tend to find you have no idea where your money has gone. The first place to start to get control over your finances is to create a budget. A budget is simply a list of your income and planned expenses. A budget doesn’t need to be detailed and in fact if it is too detailed you may find it too hard to manage. A Budget is really just another planning tool. The saying a failing to plan is a plan for failure and this is very true when it comes to budgeting. The amount of clients i see who don’t budget and don’t have any money is not surprising. A budget should detail all your planned expenses, but you shouldn’t just list what you are spending but you should be analyzing what percentage of your income you are spending on those items. You then need to ask yourself if you are happy spending the dollar amount and that percentage of your income on that item. Your budget should be aligned with your goals. And if you don’t have any goals you better get some. As failure to have any meaningful goals will not assist you in sticking to a budget.
Why should we budget
How should we budget
How to create a budget
Sticking to a budget