 | Make impulse buying difficult
 | Leave the store before
purchasing; if you really need/want the item, buy it the next day |
| Leave checkbook, credit cards at home
unless you have a planned shopping trip |
|
| Make savings an "expense" item |
| Make debt repayment an "expense" item (this is what credit
counselors do for you) |
| Make paying off credit
cards an "expense" item (and don't use them again until the balance
is paid off) |
| After a loan or debt is paid off, keep paying the loan amount to yourself
(make a vacation fund, or next car fund) |
| Budget for a fun item (vacation, toy) |
| Have some fun money for each family member |
| Don't over categorize your budget (i.e. do not make too many
"expense" categories) |
| Use an interest-bearing checking account, if possible |
| Set aside money monthly, for bills that are due quarterly,
semi-annually, or yearly |
| Reconcile your budget at least once a month when reconciling your
checking statement |
| Make sure to mark your last reconcile point in your budget |
| Try to get utilities or banks to change due dates of bills to make
your work easier |
| If you decide NOT to create
a personal budget, at least track
your expenses.
Just the act of identifying your expenses is extremely
valuable. While tracking expenses is
analogous to looking in your "rearview mirror" for information,
it does help you see (in hindsight) what you are doing.
Budgeting however, allows you to look ahead, and be
ready for what is ahead.
J |
