Fashionista on a Budget

Overspending on fashion these days is a no-no. In this economy, grabbing that oh-so-red hot Marc Jacobs for bag can affect your financial future, no matter how good it feels at the time. You’re a fashionista on a budget. You’ll have to adapt, all while maintaining your fabulousness. To get the most out of your fashion dollar, try the following tricks to be a fashionista on a budget. Sample Sales If you want designer duds, the best way to get them is at a sample sale. Waiting until they go on sale at the regular retail store will only get … Continue reading

Budgeting Help for a Single Parent

You know you SHOULD do a budget, but you may find yourself living paycheck to paycheck and being too tired, overwhelmed or uneducated to know how to go about designing a budget that will actually reflect your family finances and help you to plan for expenses. Where can you turn for help and what can a single parent do to learn more about budgeting? Help with budgeting may be as close as your bank or credit union. Many have customer service individuals who may be able to help you and more and more banks have budgeting information available with online … Continue reading

Start Budgeting Now!

Budgeting is long time consuming process, especially when you first begin. It can be emotionally draining because it forces you to evaluate how you are spending and saving money. Many people dread budgeting because it makes them feel restricted and poor. Others may not budget because the entire thing is so overwhelming that they do not know where to begin. While it may take a little bit of work at the beginning, budgeting really is not that much more time consuming than balancing your checkbook. It allows you the freedom of how and when to spend your money. You will … Continue reading

Can Cost of Living Affect Your Budget?

Have you ever compared your budget to someone else’s? Or were you surprised at how much your expenses decreased or increased the last time you moved? The cost of living in your area will directly affect how much you spend each month. The price of a gallon on milk varies widely from location to location, not to mention housing, gas prices and taxes. When you are taking a new job or accepting a promotion with a move it is important to take the cost of living considerations along with the new salary. If you are really struggling to make ends … Continue reading

Budget Strategies: Budgeting a Variable Income

If you have a variable income, it can be tricky to set up a budget. You may have difficulty knowing what you can afford each month. If you work solely on commission it can be even more difficult to plan a budget. Here are some basic tips to get you started. 1) If you receive a base salary plus commission, construct your budget entirely on your base salary. This should cover your basic necessities (mortgage/rent, utilities, and food), and then from there you can prioritize your other obligations. 2) If you have a paycheck that varies from week to week … Continue reading

The Importance of an Annual Budget

One way to plan your budget is to complete an annual budget. This is a great strategy because it allows you to plan and save for the expenses that come once or twice a year, which can often break a normal budget. It is fairly easy to switch to an annual budget if you already have a monthly budget in place. If you do not have a budget in place, then you will need to sit down and figure out how much you spend on each budget category during each month or over the course of the year and average … Continue reading

Five Reasons Not to Budget

Here are the top five excuses for not budgeting. Most of these excuses are things that people have shared with me in the past. It is important to realize that budgeting can benefit you even if you do not think that you need to bother with it. 1) “I don’t have the time to track all of my expenses.” This is usually is mentioned by the same people who do not have the time to keep a running balance in their checking accounts. They are always confused as to why they never have any money. 2) “When I run out … Continue reading

5 Reasons to Budget

Many people hate to budget. It can seem time consuming. Budgeting does take time, and it does involve some effort. Those who decide not to budget, may be able to pay all of their bills every month, or they may be just scraping by and adding more to their credit cards every month. Here are five reasons you should have a budget. 1) A budget allows you to control your money. If you are consciously assigning money to specific categories, you are directing what you are spending, and know when to stop. You can decide what extras or luxuries are … Continue reading

Budgeting a Small Income

One excuse for not having a budget is that you do not have enough money to bother budgeting. It can be difficult to make ends meet on any income, but especially on smaller incomes. There are many reasons that people with smaller incomes resist writing down a budget. One is that it is difficult to see how you will be able to meet your monthly obligations. Another is that your wants may be pushed aside by your needs. It is possible to live comfortably on a small amount of money, but you may need to redefine what you consider comfortably. … Continue reading

Using a Ledger System for Your Budget

Budgeting is the first and most important step to managing your money. Many people balk at the idea of a budget because it can be time consuming. It does take time and work to establish a budget. It can cause contention between spouses. It often wakes people up to the reality of their situation, which can be bit scary. If you don’t actually track your expenses during the month, then having a budget is worthless because you are not applying all your planning to your situation. You can learn more about setting up a specific budget here. By setting up … Continue reading