The task of creating a budget can be a daunting one. Financial planners cost money and a majority of the people who need the help of financial planners are barely making ends meet. Here are some tips for real people who need a budget:

Take your financial picture
Write down ALL your regular bills and their due dates
This will include all utilities, housing, food, gasoline, insurance, etc. . .
Include at lease $40.00 miscellaneous money per week.
Write down ALL your regular income
This will include your job or business, child support, alimony, etc. . . .

Now subtract your bills from your income
If there is anything left over then you are not in the worst position.
If there is a negative balance then find out where you can make cuts.

Now put yourself on a schedule. Out of each paycheck pay whatever bills are DUE within the week. If all your bills are due around the same time then you will need to pay each bill in advance until you get to the last bills which will probably be paid just in time.

Once you get use to your new schedule, you can begin to find creative ways to save and cut your costs. Your household should be run smoothly like a business so wherever you can cut costs, do so.

Now go take your financial picture. Next time I'll discuss how to get rid of old debt

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It can be easy once you get into the habit. I had to learn how to budget out of necessity. I was always caught up in some temp assignment or a job that was fun but where the money wasn't always good. Budgeting like this will enable you to be able to see exactly what it is that you are doing with your money. It will also help you to be better equiped to manage larger amounts of money when you get a better paying job.
This is a rule I live by:

"If you OUT GO is more than your INCOME then your UP KEEP will be your DOWN FALL."

Thanks Janovia for sharing a simple way to help resolve such a complex problem. Continue to be a blessing and in return you will be blessed!

Nicci Butler

On a different note.....

This is a great post, which is why I have decided to feature it on 'The Business', a digital magazine featuring the best Small Business discussions and material on the BBWO Network. This is a new feature, so it is still being customized and I would love your feedback. Feel free to add comments on 'The Business' page. I've been wanting to set this up for a while now, especially after reading the responses I got from my post 'Putting the Business Back in BBWO.' As our community gets bigger, it is becoming a SPAM magnet, and I want to ensure that does not happen. We are experts in our own right with tons of info and experiences to share, which is what I want BBWO to continue to be about. If you feel as I do, great! Continue writing these wonderful posts and I will do all that I can to promote you and your business.

Quick tip: If you haven't already done so, feel free to include your web banner or business details at the bottom of this post. I hope that with the new Magazine page, more traffic will be directed to your way!

Take Care,

.... keep sharing ladies for the interrupt
Hopefully everyone has been doing well with their budgeting. In these crucial economic times budgeting has to become a habit. Although I have been M.I.A. I am still here for the long road and would love to help anyone who needs more tips on building a budgeting system that will suit you specifically. I don't claim to be a financial professional, but I can make a dollar out of fifteen cents and then stretch said dollar to the max. So, please feel free to pm me and we can discuss your own budget and find a way to relieve the stress of financial misappropriation.
Good advice! As an Accountant, I was practicing these principles long before I knew what they were. All my friends use to tell me I could make the buffalo cry on a nickel! LOL! I still do!! =) I guess that's why I use to audit gov contracts and save the Tax Payers a bunch og monies over my 22 year career. I'm giving a discussion on May 21st at 2:30 PM at the Ameri Mart in downtown Atlanta for anyone interest on Entrepreneurship titled "Risk Management: Life on a Shoestring."
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