Budget and Diet

Friends,

Budgeting plays an important role in financial planning. Even the government, companies and the richest person sit down for hours to plan where their every single penny will go. I guess this statement will explain how important budgeting is and why we should do the same thing too - whether you are professional or a housewife, you need to learn how to manage your expenses. It may be a simple activity with a little arithmetic for few but most people failed to do so because they find it unnecessary and pointless. The goal of budgeting is to know where your money will go, to give priorities to what matters most to us and to know our current financial status. Budgeting serves as a clear financial guide in order to reach our goals in a measurable way. Without budgeting it would be hard to know when we can achieve our financial goal or if we are ready for some luxurious expenditure. Budgeting may be hard and can be compared to dieting too. It may require you to sacrifice pleasure, delay gratification and must follow it strictly to become “financially fit”. If we fail to live below or within our budget, we might catch ourselves into a debt trap without noticing it. Proper budgeting must address both SAVING and SPENDING concerns. It must address both our daily and future needs so we will not be catch into surprise. Think also long term in budgeting. We must prepare to save money for the expected things that will occur (retirement, college education, occasions etc) and also for the unexpected things that may happen too (loss of job, sickness and repair for car breakdown etc)… So get that pen and do the math and start preparing your BUDGET. -jmp

Featured Article…

To start a simple budget you can consider these steps recommended by Australian government website.

http://www.understandingmoney.gov.au/Content/Consumer/FinancialLiteracy/Budgeting/

You can also try to use their budget planner, a downloadable file for an easy steps for budgeting. You need Microsoft excel to make it work though.

http://www.understandingmoney.gov.au/content/consumer/tools/planner/

Featured video
This video will teach you how to use envelope system in budgeting.

http://www.youtube.com/watch?v=YbhP0R0n-Lc

What the Bible says about it?
The prudent see danger and take refuge, but the simple keep going and suffer for it. - Proverbs 27:12

“For which of you, intending to build a tower, sits not down first and counts the cost, whether he have sufficient to finish it? Lest haply, after he has laid the foundation, and is not able to finish it, all that behold it begin to mock him, Saying, This man began to build, and was not able to finish.” – Luke 14; 28-30


Points to Ponder…
- A budget helps you plan where your money is to be spent, instead of wondering where it went.

- A budget is a method of worrying before you spend instead of afterwards.

-A budget is a way of reminding yourself that you cannot afford the kind of living you've grown accustomed to.

As they say…

A budget tells us what we can't afford, but it doesn't keep us from buying it. - William Feather quotes

"Never base your budget requests on realistic assumptions, as this could lead to a decrease in your funding." - Scott Adams, Dilbert

"I have enough money to last me the rest of my life, unless I buy something. - Jackie Mason

Did you know?
A budget is from old French word ‘bougette’ which means a purse or a leather bag…

Have you ask yourself…?
*Do I prepare a Budget for the next 15days? Coming months? Or for the next 3 years and 5 years?
*Am I living beyond, within or below my budget?
*Does my budget include SAVINGS and do I have a budget for EMERGENCIES?

Thing to consider…
1. Find someone that can help you do the budgeting. Maybe you can learn something from his/her budget too.
2. Try to compare your “planned budget to your actual budget. By this way you can see if you are or still on track and improving your finances.

Do you need friends to assist you how to study and learn to make your money grow and help you to achieve your BIG dreams? Or do you have something to share with us? Email me at jeromeperalta@gmail.com

Great fortunes and Great Miracles are knocking…
Your friend,
Exo.