Budget Home Ideas Or Decoration December 2, 2007
Posted by Vedis in : Budgeting , add a comment
I am so excited to move to a new place in January. My family and buddies are baffled why hubby and I love moving so much. We seem to move away every 5 years…;P
This time we are moving to Tanjung Tualang which is situated at Batu Gajah. I think it is a very very small town though I have been there once. Tanjung Tualang is famous for seafood ! Crabs, prawns, lobsters….my mouth starts drooling now.
Hubby’s buddy will provide us a car, house and a cell phone. Well, the most important thing is that there is great prospect in palm oil plantations and rubber estates. Imagine hubby’s multiple incomes when one plantation or rubber estate is opened after another.
I can’t wait to see the house we are going to move into. I have so many home ideas for this house: setting up a home office for myself; equipping the bathrooms with bathroom vanities; furnishing the bedrooms with cozy cushions, rugs or recliners and the likes.
But of course, the expenses should be within our budget. Bear in mind that we are still loaded with $48,986 credit card debt.
The Advantages of Using Money Budgeting Software November 25, 2007
Posted by Vedis in : Budgeting , add a commentThe problem with most people these days is that they get so comfortable with their expenses through the aid of credit cards. They become so indulged with cashless shopping that more and more people are spending more than what they can afford.
For this reason, experts contend that budgeting can definitely alleviate the consumers from “financial strain” by managing their expenses and income instead of falling into the pit of liabilities.
However, some people just contend that they cannot simply do budgeting alone. They insist that they need some help in order to come up with a reliable and workable budget.
That’s why some financial experts have created some money budgeting software that will facilitate the creation of a good budget in order to promote wise money-saving strategies. (more…)
Why Do I Do Budgeting ? November 19, 2007
Posted by Vedis in : Budgeting , add a commentSome buddies love asking me why I do budgeting. I tell them repeatedly,
“Personal budgeting allows you to know exactly how much money you have? even down to the penny, if you so desire.”
“Budgeting is all about making sure that you have money left over after paying all your bills.”
“Budgeting and being prepared for unexpected events can change things for the better, often without too much pain.”
Steps To Budgeting Control November 16, 2007
Posted by Vedis in : Budgeting , add a commentIn budgeting control, the first step is to know how much you need to control. This refers to your income. You know this figure by heart and yet at the end of the month, you have no idea where all of it went.
This is where the next step comes in know your expenses. List them down item by item starting with the necessities such as utility bills, rent, gas money, and etcetera.
Then, in a separate category, you should list down your other payables such as credit card payments, auto payments, insurance and etcetera.
In another category, write down all your other expenses, no matter how small. A great way to do this is to collect receipts of all your transactions or spending within a month whether it is a haircut, a movie, a new shirt or your daily Starbucks coffee. Add up all your expenses per category and you will see exactly which spending area takes up most of your earnings every month.
Now, you are ready to proceed with the most crucial part of budgeting control making adjustments. As you will find, the area that will require the most changes is the non-essential spending. This is where you need to apply the word control. In other words, limit your spending over things that are not necessary.
Notice that the word used is limit and not eliminate entirely. This is because total restriction is not an effective strategy in budgeting control. It will only make you feel as if you are being punished and this will likely reduce your motivation to work on improving your finances.
Instead, adopt a balanced approach in budgeting control wherein the necessities remain top priority but you still allow yourself a few indulgences from time to time.
Willingness is very important in budgeting control and this will only come if you really understand why you need to control your budget. You would have your own reasons, just focus on them to succeed in keeping your finances well under your control.
You Need Self-Control On Sticking To Your Budget November 6, 2007
Posted by Vedis in : Budgeting , add a commentDo you have enough self-control ? You’ve got to if you want to pay off your credit card debts. Sticking to your budget requires self control. It’s much like any other change you make in your life and you need discipline to pull it off.
An occasional slip won’t jeopardize your efforts but continual deviations from your plan could cause you to become further in debt than you can afford.
To help you stick to your budget, you need to want to live within your means. Some ways to help you stick to you budget are:
3 Simple Tips On Budgeting November 6, 2007
Posted by Vedis in : Budgeting , add a commentOkay…even though I don’t really like doing a budget, I have to. It is a proven way to keep tracks of where my money goes and what I should do to cut down the spending expenses.
Perhaps I just need to keep reminding myself of these 3 simple tips on budgeting.
1. Be honest about your spending habits, and you’ll end up with a much more realistic budget.
2. Don’t forget to budget for fun; budgeting isn’t about total deprivation.
3. Don’t be afraid to change your budget; a good budget is always evolving.
Why Do I Want A Budget ? November 3, 2007
Posted by Vedis in : Budgeting , add a commentWhy do I do a budget ?
Well, a budget is a guide that tells me whether I am going in the direction I want to be headed in financially.
I have goals and dreams but if I don’t set up guidelines for reaching them and I don’t measure my progress, I may end up going so far in the wrong direction I can never make it back.
A budget lets me control my money instead of my money controlling me.
4 Tips On Budgeting Holiday Spending October 31, 2007
Posted by Vedis in : Budgeting , add a commentHoliday season is around the corner. Time to budget holiday spending; and enjoy a debt-free, stress-free season.
1. Determine what you can afford to spend. Look over your finances, and determine how much you can afford to spend on holiday-related purchases. Set this figure as your overall holiday spending limit.
2. Set a spending limit for each area of holiday spending. List the holiday expenses such as gifts, decorations, or holiday foods in the first column, and set a budget for each area of spending.
3. Track your spending throughout the season. Keep a running total of your purchases in the “Actual Spending” column of the worksheet. Then, use the “Amount Over or Under” field to track how closely you’re adhering to your budget.
4. Tweak your budget to cover any instances of overspending. Don’t panic if you overspend in one of the categories; just scale your spending back in another category to make up for it.
Use A Notebook To Keep Track Of Cash I Spend October 11, 2007
Posted by Vedis in : Budgeting , add a commentI use a small spiral notebook to keep track of what I spend. Whenever I pay in cash, I write it down. I can record anytime and anywhere I like. Keeping a notebook gives me a rough idea of where everything is going
I tried to track every penny I earned and spent on my computer, but to no avail. I didn’t have the discipline to keep track of my finances like that. Beside, trying to track every penny is just not my cup of tea. I tend to forget where the cash goes if I forget to update for a day or 2.
I am doing what works for me. Keeping a notebook allows me to track my spending and make corrections if necessary.
10 Frugal Habits That I Am Proud Of October 9, 2007
Posted by Vedis in : Budgeting , add a commentSince my implementation of debt reduction, I have picked up some frugal habits that help me cut down my credit card debts.
I am listing 10 frugal habits that I have managed quite well:
1. Pay bills on time. No late fees.
2. Eat at home regularly
3. Stay at lower cost hotels when traveling.
4. Free or cheap recreation such as jungle-trekking, swimming, window shopping.
5. Keep lights off when not needed.
6. No regular spa or massage sessions.
7. No concerts and other expensive entertainment. Find low cost entertainment, such as watching videos at home.
8. No expensive hobbies or collections.
9. Buy used books or magazines.
10.Drink filtered tap water. Avoid buying bottles of water. Bring own water when going out.
