Tools
Tools
Have you had family members say, in passing, “I’m out of XYZ shampoo, and I need more tomorrow, please!” This often happens at month end when the budget has already been depleted! By posting this list in a visible spot for the whole family, along with your next shopping date, the accountability for empty items can be lifted off your back!
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What is the best way to keep from overspending at the grocery store? Don’t go when you are hungry and always take a shopping list! This avoids breaking your budget on food items.
Why is it important? A grocery shopping list tells you what you need at home. If you don’t take inventory of your food supply before shopping, it is so easy to purchase duplicates of what you already have, not stock up on what you really need to complete meals until the next shopping trip and spend more than what you have allotted for the food portion of your budget!
Read Morebalances in each and every account, including your sub-accounts.
Why? Depending on your banking institution, you may be charged for each account that reflects a negative balance. Also, being off by a few pennies may not seem like much, but if you don’t balance at the end of each month, later you may have to go through several months of bank statements to reconcile again. Not fun!
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I really despise unpleasant surprises, especially when the credit card bill shows up. Have you ever faced the shock of receiving a credit card statement with “surprising items” on it? We have, and the best way to avoid this is to maintain a Charge Log. This form will, for the most part, eliminate those “unpleasant…
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“If you measure something, you can understand it. If you understand it, you can control it, and if you can control it, you can improve it.” The same holds true in your monthly budgeting.
The reality is that it is nearly impossible to complete & follow a monthly budget without improving your overall financial position. There are several reasons for this, so I would challenge you to do this.
First, just developing a budget for yourself will raise your awareness of what you have for revenue or income sources and then also boost your cognizance of how much you are spending each month. Next, you will come to grips with the reality of one of three facts. Either you need to boost your income sources, reduce your outgoing expenditures or, thank goodness, if you have more income than expenses, you can then save some money. Of course, this is fantastic! You just need to determine where you will store or invest those extra funds each month…
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“If you measure something, you can understand it. If you understand it, you can control it, and if you can control it, you can improve it.” The same holds true in your monthly budgeting.
The reality is that it is nearly impossible to complete & follow a monthly budget without improving your overall financial position. There are several reasons for this, so I would challenge you to do this.
First, just developing a budget for yourself will raise your awareness of what you have for revenue or income sources and then also boost your cognizance of how much you are spending each month. Next, you will come to grips with the reality of one of three facts. Either you need to boost your income sources, reduce your outgoing expenditures or, thank goodness, if you have more income than expenses, you can then save some money. Of course, this is fantastic! You just need to determine where you will store or invest those extra funds each month…
Read More