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Showing posts from July, 2009

Is your budget a dead document?

First there's the drawing up of a draft budget - detailing how much you think you'll need to spend on various things. Then you no doubt look at the monies coming in and the debts you have stacked up and try to make it squish together so that it fits into your 'ideal' draft budget. It doesn't. You make some changes, and finally everything is in balance. You're saving 10% of your income, have a reasonable allocation for entertainment and home repayment. Only one thing stands the way of financial domination, the budget itself. You never look at it and so you never seem to stick to it. Your budget is a dead document.

So how can you revive your budget and put some life back into your personal finance?

Idea 1:

Try this - rather than a budget opt to keep a running tally of your expenditure. Use excel or quicken to help you keep track. Yes much like an ordinary cash payments journal. Program your document to give you the running totals and also have your goals or budget…