Creating A Budget: Easy Personal Finance Tips Every Women Should Know

You might have experimented with make a budget and was unsuccessful. Or perhaps you have just never considered following a good budget before. Regardless of what your life-circumstance is right now, building a household budget may seem intimidating. However, it’s actually not that difficult to make a workable household budget! In case the whole thought of creating a budget seems too much to handle to you personally, take it one step before starting. Don’t make an attempt to complete all of the procedures in one sitting. Instead, reserve an hour for each activity listed below to generate a straightforward budget.Work on getting your information together. Pull together all of your paperwork, including paycheck stubs, checkbook, bank statements, charge card statements, costs, and any receipts you have. If you haven’t taken this stuff out of their envelopes, now’s an excellent occasion to accomplish this! Get all that you have together in one place. Don’t bother about sorting it now or making sense of it. Just get those little pieces of paper altogether in one place.

What are you bringing in each month? On a piece of paper, list your current income. This consists of income from job, tips, house-sitting,babysitting, selling things on eBay, a part-time job, stock dividends, interest, etc. for an typical month. For people who have infrequent income because you don’t have a regular paycheck (such as a commission based job for example), take your  best guess at what you earn in a normal month. Don’t forget to figure on the lower end when you have irregular income. Overestimating your pay won’t help your financial budget by any means. It would only hurt you!

What’s going out? This list is typicallya lot longer versus previous one, unfortunately! Making use of your paycheck stubs, bills, bank statements, and charge card statements, list your expenditures typical month in two columns: Set Expenses and Variable Expenses. Your fixed expenditures normally include payroll deductions, rent or mortgage loan, property taxes, insurance policy, automobile payment, power bills, credit card payments, and savings account. Your discretionary bills would normally can include food, fuel, dining out, clothes, hair care, memberships, and entertainment. After you’ve done this you will now see where the funds are going each month.

After you have figured your income and expenses, you can now see the difference between the two.  Compare your pay to your monthly expenses. Think you are spending more cash than you make every month? Are your charge card payments a considerable part of your permanent expenses? Have you got “miscellaneous” expenditures in your discretionary costs side from the list? If that’s so, get into a habit of documenting your spending. Likelihood is, you’ll find you’re blowing $5 or $10 on lunch or on stuff you don’t even recall purchasing. If you’re out of balance (you’re spending a lot more than you’re making), you have two choices: spend less or make more. Keep re-thinking your spending until you have a workable budget – one in which the “money in” side is equal to the “money out” side and you’re reducing the debt. The goal, of course, is to bring more money in that you are spending each month.

Adhere to the plan! This can be the hardest. It’s easy to write out a budget on paper, but it’s much tougher to say no if the office group is going for margaritas after work on Friday and you’ve already depleted your fun money for that week. Remind yourself that budgets are just like diets: If you splurge in one location, you must replace it elsewhere, or you’ll have to suffer the consequences. Once you know where your budget is leaking, you  can switch off the faucet! When you are serious about creating a budget that sets yourself the road to financial reassurance, there are numerous good money management and budget sources there for use.

Take a look at my website for more information on personal finance, check out more my budget bootcamp with tons of great personal finance tips for women!


Personal Finance Tips: What Every Woman Should Know About Becoming Financially Independent

Truly being debt free can seem like an impractical concept for many women. The traditional American currently spends a good deal more than they bring in and can barely maintain financially. Becoming totally free of debt is definitely not hopeless, regardless of what people may believe today! Read on to learn several money tips that each and every female must fully understand to start getting out of debt.

The best way to be free of debt is to start out by having a spending plan. Regardless of whether you earn a lot of cash or perhaps a little at the moment, you’ll need an actual budget to fully fully understand where exactly you’re going. Consider it as the budgeting handbook used to aid you in the long term.Your budget is your own private financial guide. Until you know where you are going, how will you understand how to get there? Analyzing your spending habits will enable you to understand where you are going so that you can develop a complete financial plan for your future.

Start saving money early and frequently, no matter if it seems like it might be too difficult. Saving money monthly is vital on many levels. It lets you have immediate cash when times are tough, you can forget about depending on charge cards when emergencies come up! Saving money monthly can really help us to learn to be disciplined with our money. Should you have absolutely nothing in savings account, your first objective is without a doubt for you to have $1,000 in the emergency fund. The emergency account will let you rely on your own funds instead of credit lines any time a issue abruptly happens (and it will!). When you get your emergency account put together, start adding to your retirement by committing to your business’s 401k plan or start an individual retirement fund. It’s certainly never too early or too late to start with putting money aside for the future!

Debt is  devastating to your personal finances. The easiest way to be financially free, is to repay your debts and simply not accumulate more debt. Using this method your earnings coming in will go toward personal savings, rather than eliminating debt. Start off small by fully repaying the card with the lowest balance first. And then card is paid back off, start adding on that cash on the card with the next lowest account balance etc. In the event you should end up receiving an increase or possibly a tax reimbursement, apply this money coming in towards debts instead of wasting it. This successful “snowball” technique is an awesome technique for you to repay debt quickly. When you realize debt being eliminated, it is actually gratifying and motivating and definately will help keep you going!

The little things we really do not think about can have the greatest impact on your finances. Although it probably doesn’t seem like it, small items can add up and deplete a big part of your hard earned cash. Wasting just $5 extra each day will add as much as  $150 in unplanned costs for that month. However this will additionally work in the complete opposite way. Putting $5 to repay debt every day can equal another $150 repaid in debt monthly!

It might  feel like it’s difficult to start to get your personal finances organized. The key thing to remember is changing your financial situation is usually about habits. If you’re able to change many of the habits you’re accustomed too, you can begin to see a massive effect on your finances. When you be aware to the little everyday expenditures, you will see they no longer add up.

If you would like more assistance with getting or have questions about the area of personal finance, check out my 16 week Budget Bootcamp: A Common Cents Approach to Personal Finances and Money Management for Women.

Oh, and I also made a cute little video about it too!!

New Directions and Changes in 2010

New blog post on my site here.

Stay tuned

I’m working on my new site

Please stand by as I’m doing a lot of this by trial and error!

Missouri Residents – Register To Win Free Groceries For A Year!

Missouri Farmers Feed Us

Whether you’re enjoying a mouth-watering platter of burnt ends and ribs, or a “Prosperity sandwich” followed by some delicious gooey butter cake, farmers from across the state work hard so Missouri families and those around the world can enjoy their favorite foods.

“Show Me State” residents, we invite you to spend time getting to know us and our families. Watch us at work and take a quick tour of our farms so you can learn more about our dedication to growing safe food, and raising healthy crops and livestock, while protecting and conserving the land.

Click here to enter to win, you can enter up to 5 times per day!

Please click for animal rescue

Hi, all you animal lovers! The Animal Rescue Site is having trouble getting enough people to click on it daily so they can meet their quota of getting FREE FOOD donated every day to abused and neglected animals. It takes less than a minute (about 1 second) to go to their site and click on the purple box ‘fund food… for animals for free’. This doesn’t cost you a thing.
Their corporate sponsors/advertisers use the number of daily visits to donate food to abandoned/neglected animals in exchange for advertising. Here’s the web site! Please pass it along to people you know. Click daily! Please click HERE and thank you!!

What moving looks like

Well I made it!!!! Last Thursday/Friday – I FINALLY got moved out of my condo!!! I really questioned if it was ever going to end because I had SO MUCH stuff! It just kept coming and coming and I really don’t know where it came from!!! I am just one person (with a cat) living in a 978 square foot condo. How is it that I couldn’t fit all my stuff in the largest pod available!!!!! AHHH!!!

I finally got it done though, but wow, it was a lot worse than I expected!!!

I decided to go with a POD because, of course, I was trying to save some money. I was actually happy with the company and how it all worked. I found a code online (big surprise) from which allowed me to save 10% on the original drop off and first months rent. Not a bad deal.  So for the pod drop off, one month storage, and then drop off again at my new house, the total was approximately $300. Well worth it to me! I would recommend using pods to anyone who is looking to save money on moving. I went with the largest pod available 8x8x16 – so if you have a lot of stuff, you may need 2 of these!

Here are some pictures of my moving process and my hotel room.I have 12 more days until I close on my new house! Not that I’m counting or anything 🙂 So in between I’m staying at an extended stay hotel. Its not too bad, but you know, its not home! Here are a few pictures of my room. I had to store stuff here because I just ran out of places to put things! Yes I know I have too much stuff!

Now I’m just waiting until I move, I’ll post more pictures of the new house soon! I can’t wait to show you all my backyard and garden area!