4 Tips To

Budget

YOUR Money

LifeandDebtBook.com | Leslie Tayne

5 Tips To Budget Your Money

LifeandDebtBook.com | Leslie Tayne

The simple 5 Tips To Budget Your Money

You may find that after scouring the internet to find tips on how to budget

your money, you will quickly begin to howl in frustration as you may be

overwhelmed by the vast amount of information you will find.

http://lifeanddebtbook.com/five-tips-to-budget-your-money/

Know Where To Start With Your Debt

LifeandDebtBook.com | Leslie Tayne

You are probably reading this because you may be a little lost on

where to start.

However, getting started isn’t hard.

If you are willing to make changes to the way you spend money and are

committed to budgeting, then you will see how easy it can be and how much

you can save each month.

Don’t Be Scared of Budgeting

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Why are so many people are afraid of the word budget?

Because for many, budgeting may have the connotation as being limiting

and strict.

It is understandable that having restrictions doesn’t sound like much fun, but

there are ways you can stay on budget without having to sacrifice

enjoyment.

Life & Debt Quote:

“Budgeting has only one rule: Do not go over budget.”

It’s that simple. It takes discipline, but if you are

serious about budgeting, you will live by this rule.

How To Budget Your Money

LifeandDebtBook.com | Leslie Tayne

First and foremost, before we get into all the tips to budget your money, you

will need to know exactly what a budget is.

A budget simply lists the money you have coming in and how much is

going out to your expenses each month.

The very first step in budgeting is to create a budget and get it down on

paper or in a notebook.

1. Assess Your Income Versus Expenses

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Assess Your Income Versus Expenses

Net income is the amount of money you are left with after all deductions

have been taken out.

Your monthly net income should also include pensions, dividends, or any

other supplemental income that you have coming in.

Once you establish the amount of money you have coming in each month,

then it’s time to list your expenses. Your expenses should consist of these

three categories: fixed, variable and discretionary.

2. Make Adjustments

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Make Adjustments

As mentioned in the previous tips to budget your money, you may have to

“trim the fat” so to speak if you find that your budget is a bit tight.

This is where you need to take a deeper look into how much money is going

towards discretionary items every month.

If you find that your expenses are exceeding your income, this is where you

need to trim the discretionary items that you are spending money on. Tally

up that figure then adjust your budget accordingly and cut back.

For example, you spend $10 each day on lunch. Just by bringing lunch

every day could save you $200 each month.

3. Set Realistic Budgeting Goals

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Set Realistic Budgeting Goals

Goals are key in helping you stay motivated as you now have something to

look forward to. If you give yourself a small financial goal to start off with, it

will serve as a short-term reward and will keep you encourage.

For example, your goal is to save an extra $100 each month towards a

vacatio. Setting goals make budgeting fun and stress-free!

4. Revisit Your Budget Regularly

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Revisit Your Budget Regularly

Once you have started budgeting, make it a habit to visit your budget

regularly. It’s a good idea to revisit your budget regularly because life, in

general, is always changing.

For example, you may have incurred a new debt such as a car loan or a

mortgage, or your spouse lost their job.

The Wrap Up

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With or without changes, it’s always a good habit to make sure you

aren’t’ getting off track and losing sight of your financial goals.

By sticking to these tips to budget your money, you will see how fast

your savings will grow and how you can feel confident that your

financial life is in order.

Read the full post here:

http://lifeanddebtbook.com/five-tips-to-budget-your-money/

This book is about learning to live with, love and

embrace your debt, so you can finally be debt-free.

Whether you are recovering from past debt, trying to keep

from getting into more debt or going through a life transition,

the lessons in this book explain in simple terms how to

properly manage your debt.

From nearly two decades of experience in the industry,

leading debt authority Leslie Tayne has finally written the

ultimate real-world guide for anyone with debt.

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Change Your Relationship With Debt

& Change Your Life