Question : Personal budget and personal finance in general, where should I start?
I am sick of spontaneous money spending and having nothing at the end of the month! I am fond of planning and now want to stricken my finances under powerful budged system.What can you suggest to start from? Perhaps some tips, concepts or even software (I have both Mac/Windows) that you know and ready to tell about?I will be grateful for any advice or personal experience! Thanks!
- asked by boy
All Answers:
Answer #1
1- Bills (house, car, insurance)2- Savings (forrainy days)-anywhere from 10-50%3-this could betwo if your older-retirement fund4-free money forfun
- answered by devinthedragon
Answer #2
The best system I have found for a beginner is theenvelope system. You first need to divide yourexpenses up and create an envelop for each of yourspending categories. My categoriesare:RentElectricCable/InternetGasGroceriesEmergencySavingsRent, Electric, Cable, and Internet areall fixed prices each month. For example, electricis $50 and since I get paid biweekly before Ispend any money when I get paid I put $25 in theelectric envelope. Now, Gas and Groceries arevariable expenses meaning they are different eachmonth always over estimate for these. I only useabout 50 dollars in gas each month but I end upputting $100 into the envelop each month in case Iwant to take a trip or have to have an oilchange.All of the rest of your money should gointo a savings account. Don't touch this moneyunless there is an emergency, car breaks down oryou break a bone. Any left over money from theenvelopes should also go to savings.Envelops canbe added throughout the year for example inOctober you may want to add a Christmas envelopand start putting $20 into it each paycheck so youaren't scraping when December comes.
- answered by gpcdon
Answer #3
actually i also have this kind ofproblem............ but now i am trying spend alittle money 4 myself..... i only use it only ifreally2 important 4 me............ what if we bothtry 2 list out things that we very want it??? :)
- answered by reyna
Answer #4
There's a radio show called the Dave Ramsey showon the radio around noon ct. Or go to Dave Ramsey.com
- answered by chris
Answer #5
First of all, you must be resolved within yourselfthat this is what you really want to do. If youare not, then no software or any other type ofprogram will do it for you. Start by keepingreceipts of all your payments, and once a week orso, sit down and review what you have spent yourmoney on during the past week. Then decide whichexpenditures were really necessary, then resolveto reduce or eliminate the unnecessary ones. Cutup your credit cards, save for maybe one thatrequires you to have money already in the account;sort of like a debit card. Whenever possible, payfor everything in cash. Pay off all your debts asreasonably fast as possible. If you work for acompany that has a 401k plan, then start now toparticipate in it, even if you can only set asidea small amount, as then you will get into thehabit of saving and seeing your savings grow overtime, and this should give you a good feeling.
- answered by maxman71
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measure and fulfill your financial needs
