Friday, December 3, 2010

How to Make A Budget ( The Beginning )

Budgeting is the most basic accounting that anyone can do. I'll post a series of blog about this topic for starters. I know that everyone will benefit in this series.

Firstly, I want to ask you what is budgeting.

The answer is simple it's making sure that you're spending less than you're earning as well as planning for both your short( buying new clothes, shoes et al) and long term goal (buying a house, car et al).

Most Filipino thinks budgeting is like dieting, depriving oneself in the luxury that they can have today. Think of budgeting as program for spending. If you have hard time using the word budgeting why not thinks of it as "personal financial planning". It's a proactive approach to manage your money.

Budgeting is a very important aspect of financial success, which is our goal.

Budgeting doesn't need calculus or algebra, it's as easy as counting 1-2-3. It's not true that it only works for people who have huge pay checks, everyone needs budgeting. It helps you make conscious decisions on how you'll use or allocate your money. It can help you save for retirement, emergencies, a new car or just about anything. For many people, having a solid budget in place, knowing how much money they have and knowing exactly where that money is going makes it easier for them to sleep at night.

This budgeting series will teach you everything from setting up a budget to updating it as your circumstances change, as well as getting back on track if you go off your budget. Whether you're a college undergrad, retiree or somewhere in between, if you're looking for a way to manage your money better and improve your financial situation, then this series is for you.

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