by Simonne Liberty

Created on: June 06, 2009   Last Updated: June 07, 2009

Not everyone has the talent to juggle their income to balance their budget. Many of us need to learn and practice this task. Balancing a budget takes a lot of will power, self-sacrifice and determination. It means being able to focus on priorities, and accepting the fact that the luxuries have to be put on hold until they can be afforded.

The amount of income a person receives determines how much is allowed for the luxuries in life. To a poor person, luxuries may be things that the well to do simply take for granted. That is why we have to learn to work with what we have, and build up slowly to where we want to be.

On a low income budget, rent, utilities and food are the ultimate priorities. If there is any money left over after paying these bills, that is where the budgeting begins. Once the priorities are taken care of, the hard decisions start. People who manage their budget well are the ones who pull hard on the reigns of self-control. That is not an easy thing to do when the horse of temptation is running wild.

The less income one has to work with, the more careful the budget needs to be balanced. There is no room for large purchases to be made, or extravagant lifestyles to be lived. Much thought must be given to what needs are to be considered first. The saying , "Living with in our means," needs to always be remembered. To budget well means to not allow oneself to go into debt. That is easier said than done. There are always unexpected situations arising that seem to rock the boat when we seem to be on top of things.

A person who manages well will take considerable time to look over all sides of the situation. Making a list of priorities and working on that list one at a time will work out better, than to try and get everything done at once. Pay a little at a time on all items. For example:If the two top priorities on the list are, "a car and a washer." Take only those two items to juggle. Do you already have a car that can hold out until a washer can be paid for? If the car is the first priority because it is a major need for transportation to and from the job, than the washer must be put on hold. Better yet, consider getting a second hand washer. I could last for a few years.

The third option would be to get both items, and make small payments on each. But then you run into credit chaos, and end up paying more in interest, and making you get more behind than ahead. It is easy to fall into the credit habit. Once into it, it is hard to get

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