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Budget Strategies: The Zero Dollar Budget

You may have heard of a zero dollar budget, but are not sure what that means. A zero dollar budget means that you spend every dollar on paper before the month begins. This way you have assigned an amount to each of your expenses. Once you have reached the limit you stop spending in that category. This budget works well with the envelope system. It is important to realize that you can adjust the amounts that you spend during the month. For example if your entire family ends up with strep throat you may overspend in the medical category. You … Continue reading →

5 Ways to Help a Reluctant Spouse Begin to Budget

One difficult thing in any marriage is dealing with the finances. It can be especially difficult when one spouse wants to save or spend more than the other. It may be that one spouse (usually the one who pays the bills) comes to the realization that something needs to change, while the other spouse wants to continue spending money without cutting back. It is important to work on your finances as a team, but is there anything you can do to help get your spouse on board? Here are five suggestions. 1) Often times one spouse simply has no idea … 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 →

Budget Strategies: Include Fun Money in Your Budget

One important factor in helping you to stick to your budget is that it allows for some wiggle room or fun spending. This is an area that really can make a difference. In many ways a budget is like a diet for your money. If you set yourself up with too many restrictions you are setting yourself up for failure. It is important that you realize this and you may want to make the changes more slowly, so that you do not fail. One important thing to include in your budget is a fun money category. This should be spending … Continue reading →

Financial Pitfalls: Failure to Budget Important Categories

One major financial pitfall is to neglect to budget the categories that allow for discretionary spending. These categories are the ones that can vary from month to month. These categories can include groceries, eating out, clothes, medical expenses, gifts, and fun money. It is important to track these categories because it is easy to overspend in each of these areas. Many people will sit down and write out a budget that includes only their bills. They see that they have a large surplus of money, and are constantly confused at where the money disappears to each month. At the end … Continue reading →

Five Budget Busters

Once you sit down and right out your budget you should begin to notice that you have a few categories that are causing you a little bit of a problem. These categories are generally known as budget busters. Once you realize that you are overspending in these categories, it can be difficult to find ways to cut back. It may mean that you simply do not go shopping, or that you shop sells. You may choose to switch these categories to the envelope system, which will help to stop excessive spending. Here are five common budget busters and ways to … Continue reading →

How to Avoid ATM Fees

ATM fees are getting really ridiculous these days. Some machines are charging up to $3.75 for the service of giving you your own money. Do this once a week, and you’ve spent around $200 in fees with nothing to show for it. I’m really not sure how these machines get away with it, but they must, since people continue to use them and the fees get higher and higher. Still, you can avoid ATM fees with a couple of frugal strategies. Find No-Fee Machines Sounds simple, but it isn’t always easy. With a little research, you can find conveniently placed … Continue reading →

Do You Wish You Had a Personal Accountant?

Have you ever wished that you could hire a personal accountant that would just take care of your finances for you? That way you could simply spend your money, and not worry each week if you were going to overdraw. You could also save money on late fees and the hassle of paying your bills each month. While it is not realistic for most people, there are several things you can do to take the hassle out of your finances. 1) You can sign up for automatic bill pay. You can do this either through your bank or through your … Continue reading →

Five Ways to Take the Hassle Out of Managing Your Money

Do you hate tracking your daily expenses? Are you tired of figuring out your budget each month? Do you have trouble keeping track of all the receipts you collect each month? If you hate tracking your budget every month, here are five easy tips to take the hassle out of managing your money. 1) Sign up for equal payment plans for your utility bills. This is easy to do once you have lived in your home for a year. This will keep the amount the same and save you from adjusting your budget every month. 2) Sign up for automatic … Continue reading →

Four Ways to Track Your Expenses

Do you track your expenses? This can be a lot of work. It is important to do however. You do have several options available to you, when it comes to tracking your expenses. One reason that you should track your spending is that it is difficult to find where you are overspending, if you are not aware of where the money is going. Here are several options available to you: 1) You can keep a written ledger of all your expenses. “Rich on Any Income” has a great program that you can do this on. It fits directly into your … Continue reading →