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4-13-2012

GIVING

Giving is the first spending category in a budget. Give first or you probably won't give at all. Keep receipts and accurate records of tax deductable giving.

1. GIVING

2. SAVING

3. TAXES

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4. HOUSING

5. TRANSPORTATION

6. FOOD/HOUSEHOLD

7. CLOTHING

8. MEDICAL/DENTAL

9. CONTINUING EDUCATION

10. INSURANCE

11. DEBT

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12. SPECIAL PROJECTS

13. MISCELANEOUS

14. RECREATION

15. ENTERTAINMENT

16. VACATION

17. CHRISTMAS

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18. ALL OTHER

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4-5-2012

CUT WHERE YOU HAVE TO

If you begin to get in a bind with your budget, check your spending for Food/Household, Transportation, Clothing, and All Other. Be honest. If your monthly costs for electronics (of all types) is hurting your budget, do something about it. Almost all of that spending is discretionary. Same for eating out and buying 'extra' clothes.

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4-4-2012

4-24 DEPOSIT PLAN

Today is April 4th and it is time to start depositing some of your budgeted savings for the month. Have all of your savings for April in the bank by close of business April 24th. Work the 4-24 plan for saving every month.

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3-26-2012

STUDENT LOAN DEBT

Come up with a plan to pay back ALL of your SLD as soon as you get the money. Yes, even before you attend your first class. Begin paying it back even before you graduate. Know the approximate date of final payoff during your college career and stick to it. Student Loan Debt becomes "Stupid Loan Debt" if you keep it too long past graduation.

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3-14-2012

2 THINGS TO DO TODAY

We are now two weeks into March. Review your spending record and make adjustments where you need to so you don't over-spend and blow your budget. Also, today is the day to start working on your April budget. April is a 30 day month that includes Easter and, of course, "tax day." (From our Good Cent$ page on Facebook)

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3-12-2012

FOOD/HOUSEHOLD

If you are new to budgeting, over-fund this category and then lower the number each month until you figure out how much money you typically spend for food and household items. Once you have a good workable number, you can plug it in month after month. Boost the number a bit for vacation months and months with holidays.

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3-9-2012

DEBT

Your debt has got to go. Focus on getting rid of all of your debt as quickly as possible. Earn extra income and put all of it toward retiring your debt. And allocate some money in your budget each month for debt elimination.

1. GIVING

2. SAVING

3. TAXES

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4. HOUSING

5. TRANSPORTATION

6. FOOD/HOUSEHOLD

7. CLOTHING

8. MEDICAL/DENTAL

9. CONTINUING EDUCATION

10. INSURANCE

11. DEBT

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12. SPECIAL PROJECTS

13. MISCELANEOUS

14. RECREATION

15. ENTERTAINMENT

16. VACATION

17. CHRISTMAS

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18. ALL OTHER

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3-8-2012

EMERGENCY FUND

Do you have an emergency fund in place? You need to have one. Work through your budget to save at least $2,000 to be used only for emergencies. It's a blessing to be able to pay cash to repair or replace something the same day it breaks down. You can keep the money in a savings account or below the balance in your checking account. Don't put this off.

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3-7-2012

START SLOW IN THIS LONG MONTH

We are one week into the 31 day month of March. It would be wise to pace your spending early in this long month. You'll be glad you did when we get to the last few days. And try to generate some extra income this month if you can. Keep transportation expenses in mind as the price of gasoline seems to be rising everyday.

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2-23-2012

THREE WEEKS IN, HOW ARE YOU DOING?

We are a little over three weeks into this shortest month of the year. How are you doing with your budget? If you're having trouble this month, figure out what's causing the problem because it's only going to get tougher in the 31 day month of March.

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2-15-2012

"GRUMPY" ON SPENDING

For best results in life, just for today, all day, don’t spend any money. Repeat that exercise several times a month.” -General George S. "Grumpy" Taylor

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2-1-2012

HOW DID YOU DO IN JANUARY?

Today is "Balance Your Budget Day." Total each category in your spending record. Add all of those totals and compare that number with your total income for January. How did you do? If you balanced or have a surplus, congratulations. If you came up a bit short, learn from your mistakes and try to get it right in February. You only have 29 days to pay for this month.Try your best to balance your budget.

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1-19-2012

SPECIAL PROJECTS

If you're going to need a new roof or a new refrigerator or a new car, save for these big purchases in a budget category called Special Projects (12).

1. GIVING

2. SAVING

3. TAXES

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4. HOUSING

5. TRANSPORTATION

6. FOOD/HOUSEHOLD

7. CLOTHING

8. MEDICAL/DENTAL

9. CONTINUING EDUCATION

10. INSURANCE

11. DEBT

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12. SPECIAL PROJECTS

13. MISCELANEOUS

14. RECREATION

15. ENTERTAINMENT

16. VACATION

17. CHRISTMAS

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18. ALL OTHER

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1-13-2012

CLOTHING

You can pay for clothes out of your All Other category or you can create a separate category just for clothes. Be careful with your spending here. Buy the clothes you need first, then, if your budget allows, buy the clothes you want. Clothing can be a budget buster.

1. GIVING

2. SAVING

3. TAXES

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4. HOUSING

5. TRANSPORTATION

6. FOOD/HOUSEHOLD

7. CLOTHING

8. MEDICAL/DENTAL

9. CONTINUING EDUCATION

10. INSURANCE

11. DEBT

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12. SPECIAL PROJECTS

13. MISCELANEOUS

14. RECREATION

15. ENTERTAINMENT

16. VACATION

17. CHRISTMAS

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18. ALL OTHER

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1-10-2012

DEBT

January is a good time to create a plan to get rid of all your debt. If you have been paying on old debt, try to come up with ways to increase the payments. Sell something. Take on some extra hours at work. Take a second or even third job for a while. Start your own part time small business to bring in some extra cash. Be creative. think of everything you can to get rid of all of your debt as quickly as possible. Make 2012 the year you finally got tired of being in debt and did something about it.

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1-5-2012

EMERGENCY FUND AND LIFE FUND

How are you doing with your two safety nets? You need $2,000 in the bank for emergencies. You also need a much larger fund for situations in your life that will effect your income temporarily. Your life fund should have enough money in it to get you through 4 months of reduced or no income. You can build the fund to cover as many more months as you like, but 4 should be a minimum. If you don't have these funds in place, create a plan to get this done as quickly as possible. Your emergency and life funds protect your budget and your savings when the unexpected happens.

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1-4-2012

SPENDING HOLIDAY

Pick a month in the first half of 2012 and keep spending to an absolute minimum for that month. Don't spend any money on fluff. See how far you can go in cutting spending. Take it to the edge. An exercise like this can show you just how much money you waste on a regular basis. When you complete the month, try to hold on to some of the cuts. Pick a month in the second half of the year and cut spending to a minimum again. Learn as much as you can about your "regular" spending habits and make permanent adjustments where you need to.

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1-3-2012

START A BUDGET TODAY!

Start a budget today and continue it for the rest of your life. Living on a budget is living in reality. Not living on a budget is living in a fantasy world. Do what most people don't do, live on a budget!

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12-26-2011

CHRISTMAS CATEGORY

Start a budget that includes a category for Christmas and next year you will be able to enjoy a debt free holiday like a lot of veteran budgeters did this year.

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12-25-2011

MERRY CHRISTMAS

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12-20-2011

MISCELLANEOUS

The Miscellaneous category is a catch-all for any regular payments that are not listed anywhere else in the budget. These are wants more than needs. Examples include cell phone, storage space, newspaper & magazines subscriptions, cable TV, etc. If your income drops and your budget is threatened, you can cut some or all of the expenses in this category.

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12-15-2011

HALF WAY THROUGH THE MONTH

We are half way through the final month in 2011. How are you doing so far this month with your budget? Review each category and make adjustments if you need to. Stay within your budget right through Christmas to the end of the year.

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12-9-2011

"GRUMPY"

"What gets rid of debt? Just two things: time and money. Or better put, money and time. Anyone can get out of debt with hard work and patience." -General George S. "Grumpy" Taylor

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12-7-2011

PEARL HARBOR DAY AND ONE WEEK REVIEW

Today is Pearl Harbor Day. On December 7, 1941, the US was attacked by Japan. That fateful day started American involvement in World War II. Read all about this as part of your life-long continuing education. Never stop learning.

And today we are one week into December. It's important to review your spending record at least once a week this month. December can be a budget buster. Know where you stand with your spending. Celebrate, have fun, and stay within your budget.

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12-6-2011

NEW YEAR’S RESOLUTION

Are you waiting until the New Year to start your budget? Great! Many people do every year. Unfortunately many of them burn out after the first month. Here’s a little secret, If you can stay on your budget for 5 months, you’ll have it fine-tuned and you’ll be hooked. You will not want to miss a single month creating a budget from then on. Just 5 months. Get hooked in the New Year.

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12-5-2011

ASK FOR A LOWER PRICE

It doesn't hurt to ask. You may get a break you didn't expect. Sometimes sales people will search for coupons, unpublished in-store only sales or some other way to get you a lower price. All you want is a cut in what you will have to pay for an item. And remember, when you pay less for an item, you will also pay less tax on it. Be bold, but be nice. Politely ask for a deal and be prepared to walk out empty handed if you can't get one.

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12-3-2011

EMERGENCY FUND

It's time to check up on your emergency fund. You need at least $2,000 and better yet $2,500 in an envelope or account that is to only be used for emergencies. $1,500 won't cut it anymore. Don't use this money for Christmas shopping with the promise of paying it back after Christmas. You know better than that. When you use the money for an emergency, make it a priority to fully refund the account as quickly as you can. The emergency fund is budget and savings account insurance. It protects them. Not having an emergency fund or having one that is underfunded is a common budget buster.

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12-2-2011

OVER 50,000,000,000.00 SPENT FROM BLACK FRIDAY TO BROKE SUNDAY

Consumers spend heavily during the four day weekend from Thanksgiving Day to Sunday. Sales are well over 50 billion dollars and that does not count "Cyber Monday" which is growing in popularity. And remember, this is only the first weekend of the Christmas shopping season. Please do not go into debt for Christmas. Plan your spending and keep it within your budget.

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12-1-2011

DECEMBER

The biggest spending month of the year is here. Be careful with your spending and only use credit cards if you can pay them off before interest is added. Use cash and gift card Christmas gifts to help your budget if you find yourself over-spending. Give a young person our book Good Cent$ - A Simple Budget for Christian Young People. Try to remember what Christmas is all about. Have fun and finish December and the year with a balanced budget.

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The information, ideas, and suggestions in this blog and this entire website are not to render professional advice. Before following any suggestions contained in this blog and this entire website, you should consult your personal accountant or other financial advisor. Neither the author nor the publisher of this blog or this entire website shall be liable or responsible for any loss or damage allegedly arising as a consequence of your use or application of any information or suggestions in this blog or in this entire website.