Practical Financial Tips

If you find yourself wondering why you are broke or where all your money went. You may have a fundamental error in your financial game plan. That is, if you have a financial game plan. It starts with a budget. Wait! don't stop reading yet budgets are your friend not your enemy. If you want to retire with any dignity, regardless of how much money you make, then a budget is the key that start your financial engine. This one strategy could save you years of heart ache and take you across the finish line to financial success regardless if you have a large, medium, or small income. Its not about how much money you make, its about how well you manage what you do make. Let me give you some practical tips you can apply to help you change your financial circumstance. Give every dollar a name. This will alleviate much of the add stress bills can add to your life. If you earn 2,000 dollars a month then spend 2,000 dollars a month on paper. Write it down do not rely on the old trusty brain to keep it organized. Once you start allocating the money to the expense it help you see where you stand financially. Without a budget it is impossible to track where your money going. Start with necessities: food, clothing, shelter, transportation. Then work your way through all your expenses. Be honest! Do not I repeat do not leave anything out. It won't work if you do. Accuracy is essential. Let me add, you should, if at all possible allow for spending money and entertainment money so you can keep your sanity. These are very important categories that often get over looked by the tight wad in the family. Of course, you have to be reasonable with them. A budget will work miracles for your household. You must have long term thinking with a budget. Both parents and kid should be considered and involved in the approval of the budget. "Remember a house divide can never stand". Keep in mind, though, that a budget is just one part of your over all strategy for financial success. If you are not out of debt completely that should be you over all game plan, including your house. WITHOUT A BUDGET YOU WILL NEVER GET THERE. Its time to start making the necessary changes to get you where you need to be. "Its not the wind that determine your destination, but the setting of the sail." If you have any questions fill free to e-mail me at joshualking80@yahoo.com