3 easy ways to maintain a budget

[HarMoney]

Maintaining A Budget
Budgeting is a crucial skill in these economic times. However, not many people can stick to one. The key to budgeting is maintaining simple records, so you can track your progress. The following are three simple steps to maintaining a successful budget.

1. The Envelope System

This system provides a simple way to manage your expenses. The system can be implemented in just a few steps and keep you from overspending.
Create a budget- Write down your income vs. what you intend to spend on your monthly expenses.
Determine what categories you will use on a cash only basis (food, gas, entertainment etc.)
Decide how much you will be spending on each category.
The alotted amounts of cash will go into categorized envelopes.
As you need it, take the money out of the appropriate envelope.
When the envelope is empty, you are done spending in that category.
Following the envelope system, you should be on your way to an organized budget in no time.

2. Live within your means

To accomplish the ideal budget, there are certain percentages of your income that should be allocated to your expenses. A good rule of thumb is not to exceed 33% of your monthly household income in rent/mortgage. Your car payment should not be more than 15% of your monthly income and credit cards no more than 10%. If you find that your expenses regularly surpass the recommended percentages, consider downgrading, it will only make your life easier.


3. HarMoney - bookkeeping for the individual

Allow someone else to create and maintain your budget for you. HarMoney can handle all of your monthly bills and recommend ways of reducing them. HarMoney can be a more sophisticated envelope system, by removing the discipline of sticking to your envelope amounts. All your bills are paid out by HarMoney and what's left in your account is for you to spend as you please. HarMoney can take the hassle out of budgeting and make your life much easier. For more information on how HarMoney works visit us at http://www.harmoneybillpay.com/ or call (800)-385-4531.

These three tips are all great ways to maintain a budget. Once you create that budget, stick to it and you will be on your way to financial health.

[chris21399]

i want my Amozon.com...... $25 GIFT CARD!!!!!!!!!!!!!!!!!!!!!!!!!!

[Jonathan K]

i want my Amozon.com...... $25 GIFT CARD!!!!!!!!!!!!!!!!!!!!!!!!!! - Chris21399

Huh?

1. The Envelope System

2. Live within your means - Harmony

These are great ideas. #2 is especially important. I would say further spend less than you make!

[QUOTE]Your car payment should not be more than 15% of your monthly income and credit cards no more than 10%. - Harmony[/QUOTE]

We've decided never to have a car payment again if at all possible. This means saving up a little each month for a new car. Also, we have decided only to spend on credit cards what we can pay off every month.

HarMoney can take the hassle out of budgeting and make your life much easier. - Harmony

Another idea is to just have your due dates for bills on either the 1st or the 15th of the month. Put the bills on a calendar, pay them each month on time, and cross them off. Sometimes it is just better to simplify.

As far as budgeting goes you can do that simply by using a simple excel sheet or free services like www.mint.com . Bob also has an article about 10 free household budgeting spreadsheets.

[4jacks]

Huh?

Sometimes Bob gives away free stuff and one way to enter is make a post of the forums. I don't think he has a give away this month though. Maybe this guy is reading an older give away post.

[ProtectorRoss]

The best way for me to not overspend is to "forget" my credit cards and checkbook at home.