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Living Daily Life on a Budget

Online Personal Finance for fast paced times like we live in, it is absolutely imperative to work out a budget.  Living on a budget should not be viewed as a bad thing for it gives you realistic expectations on how much you can and cannot spend. In order to manage your money effectively and responsibly, it is imperative to set up a budget for both your family and your business. In determining how to set up your budget you must determine how much money is going in and out during a month. In doing this you are being exposed to the realities of the inflows and out flows of your money so that you can put things into perspective. Your income is obviously going to be the main contributor to inflows, and expenses include rent or a mortgage payment, credit card bills, utility bills, loan payments, food, gas, clothing, and entertainment. Now, maybe that brand new expensive car does not look as appealing. Having the reality of actually seeing how much money you make, and how much goes to the necessities of living, many other material things to not seem important. This is a very important in the budgeting process, which must be done before anything else.

Now that you see how much goes in and out, you need to determine how much is allocating to different variable sources. These variable sources include entertainment, clothing, and other miscellaneous expenses, which can vary because they are not necessities. For example in the summer months you may spend more on entertainment such as a vacation instead of clothing. You must make sure that if you increase one part of your budget you must decrease another. In doing this you are making sure that you are not going over you allotted spending. Another important thing to remember is to set up your budget so that you are not constantly starving yourself in a sense. If you spend no money on yourself and chalk it up to savings, you will probably have moments of weakness and spend more than you ever intended too. Going overboard with saving depletes the quality of your daily life making you a much unhappier person. Spending enough to ensure that you are taken care of while saving is the optimal situation. In order to ensure this to happen, the right amount of resources must be allocating to your different sectors of spending. If you do this step correctly will are setting yourself up to succeed.

Overall setting up a budget is imperative for anyone who wants to ensure that they are on track with their money. In determining how much you take in and put out you must ensure that your calculations are correct so that you know exactly what you are dealing with. In determining how to split up your resources, necessities come first. There are all sorts of ways to save that involves the use of online tools that manage your accounts and spending. Budgets are important factors to use when trying to manage your money efficiently.

About the author: Jeff Nelson gives advice on money management. His advice helps you to eliminate your debt faster. To make online budgeting easy and set up your budget for each category you are targeting, visit www.mint.com.

Source: http://www.articlesbase.com/personal-finance-articles/living-daily-life-on-a-budget-610785.html

Personal Finance Questions

  1. QUESTION:

    Any suggestions on where to find an online personal finance planner for free?

    I would like to have a safe and secure, legit, personal finance tracker online. Basically where I can input debts and have access to assistance or tips, a way to keep up with my finances and get things on the right track. Any suggestions? I was scared to try some places because I wasn’t sure if it is a safe and secure sight. Thanks!

    • ANSWER:

      I have found something related of what you are looking for, it works fine for me.

  2. QUESTION:

    What’s the difference between online personal finance software and desktop personal finance software?

    what can one do that the other one can’t?

    • ANSWER:

      Here is a chart with desktop and online software compared side by side. http://ow.ly/11QH0Online financial software actually has many advantages over desktop software. But, if storing your data on an online provider’s server makes you nervous, then desktop is the way to go as long as you take the appropriate measures to secure your data (back up, anti-virus and firewall software).

  3. QUESTION:

    What do you think of Quicken Personal Finance Online?

    I’m considering signing up for Quicken online (the free online version) and would like some opinions about it first. I’m really nervous about giving out personal bank info and it would help if I knew what someone else thought about it:)Thank You!

    • ANSWER:

      I would advise against it. The company who makes Quicken , Intuit, is trustworthy but they are annoying as hell. If you buy any of there products, you have to disable a million pop ups as they try to sell you tons of overpriced junk.I can only imagine the sales pitch gets worse with a “free” product. If you want to use it, buy yourself the cheap version. it runs about 30 bucks. Or try microsoft money.They try to sell you stupid things like “bill pay” which is free at most banks anyway. They also try to sell you “official” quicken checks, which can be bought through walmart.com or costco.com for about a quarter of the cost.Like I said, the company is trustworthy but you waste a ton of time trying to get rid of the ads.

  4. QUESTION:

    Do online personal finance tools actually work?

    • ANSWER:

      Yes they do. They allow you to put together a budget.

  5. QUESTION:

    What are some online discussion forums regarding personal finance, bankruptcy and debt collection?

    What are some of the better online forums where I can discuss and ask questions about personal finance, bankruptcy, dealing with unruley collectors and cleaning up my credit report after filing bankruptcy?I know it will take YEARS to rectify my credit report but there are always dirty collectors who refuse to make the appropriate reportings and i’d like to talk with people who are having similar experiences that i am having…

    • ANSWER:

      http://forums.kiplinger.com/index.php

      http://www.deal-save-online.com/credit.html

      http://www.nfcc.org/

      http://moneycentral.msn.com/community/message/default.aspx

 

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About the Author

Rhonda Evans

Rhonda is the founder and editor of MoneyPoint Live. She is a retired Senior Chief from the USN, mother of two, previous small business owner, and entrepreneur.

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