Personal budget must work for you in 2013

Personal Budget – Key to cost control, savings & peace of mind

Creating your own personal budget is just deciding how much money to spend and save whatever is the balance at the end of each month. But it’s the commonest mistake since for most of us the end of the month is very iffy and we won’t have any surplus in the end. It’s a little lie we tell ourselves each month, saying something lime, “ Tomorrow, it’ll be better!”

If you feel like a money budget is something for you, listed here are some pretty reasons you need to consider

  1. Start thinking how to stop living paycheck to paycheck
  2. Get immediate control of your spending
  3. Curt impulsive purchases
  4. Decide what’s necessary and what to cut costs
  5. Put aside 10% for savings, 10% for additional payment for your debts, spend the rest as usual
  6. Live within your means,
  7. Pay your bills on time
  8. Differentiate what’s want and what’s need
  9. Pay cash not with credit card
  10. Track your expenses daily into food, bills, travelling, needs or wants

Quite simply, making budget gets you out of debt, or get you into savings and wealth multiplying mode. Either way, it should allow you to be able to sleep well or wake up merdeka with no hangover.

It’s difficult to budget expenses as it’s meant cramping your lifestyle but this is the only way, yes only way to lead a lifestyle that’s purposeful and creates financial stability. The non-budget way is like slipping on a soap bar into a slithery, dark alley with very little hope. Remember everybody loves a millionaire but stays away from a bankrupt like a dead rat.

You can start budgeting process with just a piece of paper or use some of those free spreadsheets available online. Either way, begin first and your life will begin to be alive, slowly but surely, guaranteed!

You’ve already done your part in life living with financial insecurity, crisis of un-expected big expenses;, it’s time to sit down, decide and really, do something to improve your life. It’s just a decision to budget, remember budget is just a budget; it can change and be adaptable anytime. So long as your financials are improving, that’s all that matters. You will find that both life and budget will improve in many unexpected ways!

Happy New Year, 2013! A related blog Personal Budgeting and a video for your great new start!


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