PROSPERITY:
How to successfully BUDGET
self help resources

Self help cost saving ideas and self help successful BUDGET strategies Resources for self help budgetting, family budgets, how to save money, strategies to cut costs, developing financial management.

Motivate, educate and empower yourself with over 1,000 free personal development Self Help resources, articles and downloads.

If you want self help budget resources that relate to a specific life stage or lifestyle category issue, go to the Navbar for your current life stage and lifestyle and select resources from that self help section.

BUDGET GUIDELINES:

- America's 78 million credit cardholders carried an average balance of $7,564 last year.

The cost in interest and fees amounted to more than $1,000 for the typical budget.

If you just said, "Budget - what budget?," you know what I mean.

Truth is, most of us go on spending sprees from time to time.

But, when power-shopping creates the illusion of success, even as debts spiral out of control, it has become a weakness.

Some obvious signs that spending is out of control include making minimum payments on your credit cards, late fees, bounced checks, lack of a budget and loss of sleep over money worries.

Debt counselors say there is no easy way out of this fix. The answer for most families is belt-tightening.

Is there an area in which you might need to adjust your finances by a notch or two?

Adjusting Finances:

1. Consolidate credit cards.
You might want to pay off the cards with the highest interest rate first. If you have a card with a low teaser rate try to eliminate that balance before the low rate expires. Consolidate your credit card debt on the one with the best rate. Make more than the minimum payment each month. Just paying the minimum on a credit-card bill can result in it taking you 20 years or longer to pay off your current balance. You could end up paying five times as much as the price tag amount.

2. Refinance your home mortgage.
Refinancing may entail some costs such as origination fees and points so the savings on monthly interest charges must be great enough for you to recoup your upfront costs during the period you expect to live in the home.

3. Track expenses.
Use your checkbook, credit card or debit card so you have a receipt. And, limit your use of ATM machines because there is no easy way of tracing how the cash withdrawals are spent.

4. Create a budget.
After tracking expenses for several months, categorize your spending, taking special note of two categories: necessities (e.g., utility bills) and discretionary expenses such as cable TV, cell phones, babysitters, restaurants and health clubs.

5. Arrange for automatic bill paying.
Pay monthly bills (such as your mortgage) with automatic bank transfers to make sure you don't spend the money elsewhere and incur late fees. See if your local utility has a budget saver plan that lets you pay the same amount each month.

6. Curtail discretionary spending.
Ask yourself if you really need a gazillion cable TV channels, and whether that health club membership has you on a financial treadmill. Take the phone number for pizza delivery off the speed dial function on your telephone. Buy private label brands. Clip and use store coupons, which can easily save you $300 a year in tax-free money.

7. Pay less for necessities.
For example, you might lower your insurance bill by combining all your policies with one agent and by increasing your deductible. Check out some of the new low-cost long distance phone rates. Buy clothing that can be machine-washed instead of dry-cleaned.

8. Pay down your debts with any windfalls
such as a tax refund, bonus or over-time pay.

9. Make saving a habit.
Once you pay off a loan, continue setting aside the amount of your payment each month. Consider arranging for automatic transfer of the funds to your savings account. You might be surprised at how fast the savings add up. For example, just saving a dollar in pocket change every day can add up to $35,458 at 4% interest in 40 years.

10. Compare your spending to that of others.

Budgeting Guidelines:

Of course, spending varies by income and region of the country (e.g., housing is more expensive on both coasts). But in all cases the total should not exceed 100% of your income. So if your expenses are high in one area, they should be lower in another area. Using the figures below as a general guideline, take note of where your spending might need adjustment.

(Average household spending) Statistical Abstract of U.S., 1999 Spending Range

• Food/alcohol = 13.5%
• Housing = 29.6%
• Apparel = 4.8%
• Transportation = 17.0%
• Healthcare = 4.9%
• Entertainment = 4.6%
• Personal care = 1.1%
• Reading = .5%
• Education = 1.3%
• Tobacco/misc. = 3.0%
• Cash contributions = 2.6%
• Insurance/pensions = 8.4%
• Taxes = 8.7%

self help prosperity budget article continued at P69 below:

P128 How To Budget Successfully ebook by Terry Rigg

P83 How to Start a Budget by Karen Jones

P86 The Why, When & How of Budgets

P124 The Typical Family Budget by Gary Foreman

P112 Savings Ideas for Students by Nancy Twigg

"Keep Them Handy: Budgeting Tools that Work"

"The Advantages of Using Money Budgeting Software"

"No Fret Family Budget"

"Secrets of keeping to the family budget"

P97 Grocery Budgets and Savings by Gary Foreman

"A Little Goes a Long Way: Smart Secrets to Budgeting"

"Guide To Better Budgeting"

"Priorities Bring Focus to Family Budgeting"

"We are Family: Budget Tips for Today's Familial Ties"

"Budgeting For Emergency Funds?"

"Budget Like Mom"

"TAKE CHARGE OF YOUR FINANCES: TIPS ON BUDGETING"

Here is your chance to submit your article or review!

Click below to see contributions from other visitors to this page...

Taking Care of Your Debts  Not rated yet
Do you find yourself worried about how long your money lasts? When you get your paycheck, does most of your money go elsewhere?

Many of you experience ...

Self Help Tips to Maximize Your Cash  Not rated yet
During times like these, it is important for you to invest your money wisely so that when that day comes that you?ll be in dire need of extra cash, you ...

Save your Family from the effects of this Recession  Not rated yet
Anti-Recession Tips: Simple Ways for Parents to help the Family to Cope Better

Recession, for the uninitiated, is the decline of the economy. It is ...

"How to Save Money on Gifts"

"Why Banking Works"

"Tips on Saving Money during the Holidays"

"Save Money and Save the World"

"Ways to Make Cents at Home"

"A Frugal Lifestyle"

"Methods Of Saving Money"

==============================================

SITE DISCLAIMER: The self help resources on this site are not intended to be a substitute for therapy or professional advice. While all attempts have been made to verify information provided in this self help publication, neither the author nor the publisher assumes any responsibility for errors, omissions or contrary interpretation of the self help subject matter herein. There is no guarantee of validity of accuracy. Any perceived slight of specific people or organizations is unintentional. This self help website and its creators are not responsible for the content of any sites linked to.

The self help contents are solely the opinion of the author and should not be considered as a form of therapy, advice, direction and/or diagnosis or treatment of any kind: medical, spiritual, mental or other. If expert advice or counseling is needed, services of a competent professional should be sought. The author and the Publisher assume no responsibility or liability and specifically disclaim any warranty, express or implied for any products or services mentioned, or any self help techniques or practices described. The purchaser or reader of this publication assumes responsibility for the use of these self help materials and information. Neither the author nor the Publisher assumes any responsibility or liability whatsoever on the behalf of any purchaser or reader of these self help materials.

self help resources listed for your convenient self help search in the self help subjects of Prosperity, financial management, self help budgets, save money, start a small business, self help career development, self help strategies for increasing your prosperity.

==============================================