воскресенье, 20 сентября 2015 г.

Personal Budget Guidelines

A personal budget helps you to keep financially on track and make sure that you are living within your means. Certain guidelines will help you to create an easy-to-follow budget that helps you stick to your financial goals and allows you to meet any unexpected expenses and reductions in your income.

These guidelines are:
  • Set your goals thinking in terms of short, medium and long-term. Include your financial objectives such as education goals, holiday, retirement, home purchase and more. Include these goals in your budget figures, setting money aside to achieve them.
  • Make a note of your income and record this in your budget. If you receive bonuses and unexpected income from time to time do not include this in your budget. Only include income that you are sure of receiving. Anything else can be used to clear debt, invest or make a purchase of a desired item that may not necessarily be an essential.
  • List all your necessary expenses ensuring that you include annual and quarterly expenses also. You will get these figures from your statements and bills. These expenses are added together and deducted from your income to make sure that you are living within your means and that you can cater for your goals and your living expenses.
  • Don't forget to include entertainment and other sundry expenses in your budget. These costs are the ones that can be changed if your budget is tight -- but you do need some recreational allowance. Keep a notebook of your spending if you are unsure of how much you actually pay out on miscellaneous items. You are likely you be very surprised at just how much you do spend.
  • Always put some money aside for investment. Build an emergency fund which should be able to cover three to six months of expenses. This will help you to cater for the unexpected and keep you in good stead should an emergency occur. It will help avoid having to take from your valued investments.
  • Concentrate on erasing debt and include a program of debt reduction in your budgeting figures. Any extra income that is received can be paid towards your debt -- things such as tax rebates, bonuses and other financial windfalls.
  • Review your budget on a regular basis. Adjust as necessary. This will keep you on top of your finances. Remember that your budget is not set in concrete -- it is a working document that helps you to control your finances.

Follow these guidelines for your personal budget and you will have a healthy financial future.


Lyn Bell has been in the finance industry for more than 30 years and is a Certified Financial Planner. She has helped many clients achieve their financial goals. Lyn invites you to receive a free report on ways to Cut Your Grocery Bill... this will help with your budgeting.

For tips to erase debt.

Please note this article does not contain specific advice and is for information/education purposes.

A disclosure statement is available free on request.

Author: http://EzineArticles.com/?expert=Lyn_Bell

Article Source: http://EzineArticles.com/6093035

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