by Nicole W

Created on: July 22, 2007

Budget, Budget, Budget. We must do it to keep order and perspective in our lives. Our financial health is important in order to be successful and financially free. Budgeting improves our lives by keeping us balanced and focus. You owe it to yourself to plan, track, and adjust for the unexpected in life. If you are struggling from month to month, you are unstable, anxious, and over extended. Thus, your mind, body, and spirit suffer.

Spend less than what you are making, SAVE & invest (little by little), and if in debt - pay as much as you can on the smaller debts until you pay them off and you'll feel a sense of accomplishment as you pay off one by one. If need be, seek financial counseling to get back on track. No matter how far behind or disordered you may be in your finances - order can be made. You can come out of a chaotic situation once you acknowledge and face the issue - don't be afraid to seek guidance. You have to acknowledge the problem in order to fix it.

It is very important to know your net worth, your short and long term goals, your visions, and your budget. Keep track of cash flow going in and out each month by holding on to receipts, balances check book, reviewing your bank statements,etc. Take advantage of on-line banking, budget worksheets, or even a personal accountant if your finances are much more complex. You will find these resources efficient and effective on helping you manage your budget in a timely and orderly fashion.

Here is a sample budget plan sheet per Susan McCarthy's, "The Genesis Answer - From Chaos to Kingdom Order in Every Area of Your Life":

1. Start with your monthly income (your and a spouse)and include any
additional stable income coming in.

2. Then include your itemized expenses such as charitable giving or
tithes/offerings.

3. List your Mortgage/Rent and Utilities - electric, water, cable, cell.

4. List Food and Household Items

5. List transportation expenses - car notes, insurance, gas, repair, etc.

6. Life and Health Insurance and Children Expenses

7. Debt, Credit Card, Loan Payments

8. Savings and Investments

9. Medical and Dental

10. Personal and Miscellaneous Items - dry cleaning, eating out, salon, pocket money

Take your Total Income minus your Total Expenses and you will be able to see what is left over each month.

Below is an on-line budget sheet as an example. There are so many you can look up:
www.debtadvice.org/Credit101/budget_debt_ws.pdf

Bu dget for a financially fit life!

Learn more about this author, Nicole W.
Click here to send this author comments or questions.