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Why Should I Make a Budget?

by renankeemcorbes

You say you know where your money goes and you don't need it all
written down to keep up with it? I issue you this challenge. Keep
track of every penny you spend for one month and I do mean every
penny.

You will be shocked at what the itty-bitty expenses add up to.
Take the total you spent on just one unnecessary item for the
month, multiply it by 12 for months in a year and multiply the
result by 5 to represent 5 years.

That is how much you could have saved AND drawn interest on in
just five years. That, my friend, is the very reason all of us
need a budget.

If we can get control of the small expenses that really don't
matter to the overall scheme of our lives, we can enjoy financial
success.

The little things really do count. Cutting what you spend on
lunch from five dollars a day to three dollars a day on every
work day in a five day work week saves $10 a weekly $40 a monthly
$480 a yearly $2400 in five years plus interest.

See what I mean it really IS the little things and you still eat
lunch everyday AND that was only one place to save money in your
daily living without doing without one thing you really need.
There are a lot of places to cut expenses if you look for them.

Set some specific long term and short term goals. There are no
wrong answers here. If it's important to you, then it's important
period.

If you want to be able to make a down payment on a house, start
a college fund for your kids, buy a sports car, take a vacation
to Aruba anything then that is your goal and your reason to get a
handle on your financial situation now.

The Budget, The Ultimate Financial Management Tool

A carpenter uses a set of house plans to build a house. If he
didn't the bathroom might get overlooked altogether.

Rocket Scientists would never begin construction on a new
booster rocket without a detailed set of design specifications.
Yet most of us go blindly out into the world without an inkling
of an idea about finances and without any plan at all.

Not very smart of us, is it?

A money plan is called a budget and it is crucial to get us to
our desired financial goals.

Without a plan we will drift without direction and end up
marooned on a distant financial reef.

If you have a spouse or a significant other, you should make
this budget together. Sit down and figure out what your joint
financial goals are long term and short term.

Then plan your route to get to those goals. Every journey begins
with one step and the first step to attaining your goals is to
make a realistic budget that both of you can live with.

A budget should never be a financial starvation diet. That won't
work for the long haul. Make reasonable allocations for food,
clothing, shelter, utilities and insurance and set aside a
reasonable amount for entertainment and the occasional luxury
item. Savings should always come first before any spending.

Even a small amount saved will help you reach your long term and
short term financial goals. You can find many budget forms on the
internet. Just use any search engine you choose and type in free
budget forms.

You'll get lots of hits. Print one out and work on it with your
spouse or significant other. Both of you will need to be happy
with the final result and feel like it's something you can stick
to.

Mr Corbes is an Internet Entrepreneur where he put all his
efforts and knowledge about building webgamesites.
http://www.medialunatic.com <a
href="http://www.learnthewebonvideo.com">Internet Marketing
Video</a>

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