Personal Budgets

[cassie]

I truly beleive that in order to be financially capable you must begin a budget and stick to it. A budget will help you to identify where you spend your money and where you might be able to cut.

[shinningstar]

I always have my own budget in all my personal things especially in telephone bills, food and clothing. Sometimes if my monthly budget is lacking, I'll make sure that the next month it is enough. If things at home can be recycled, no need to buy new items.

[ken7700]

Never really had a personal budget, but with the economy going down I have been forced to make one so I know where every dollar goes too. It sure helps out a lot.

[Ricardo]

I agree that having a personal budget and sticking to it is a great strategy.

It can become complicated if you don't know exactly how much money you'll be making in any given time. This can happen with some self-employed freelance work.

[diablo36]

Everyone mention about creating a budget, saving, and one more time saving, but why not to build equity on your investment and then create a budget and saving? if you have a home and you pay off your home, you own this home right? after few years you start build a home equity where you can start investing on your home equity money and making profit! this is how people should do , investing in equity not only home equity but also stock equity and even cash equity!

[Teleguy]

freelance work, who of us want to work for corporate america accourding to latest statistic 80% of people will say that they want secure jobs working for somebody and earn money to company instead of working for their own and became freelancer!

[newdog]

People need to take care about personal budget, because most people right now don't have a money to buy product and services, what happen later one when recession will come? how people will be able to afford product and services? what about their utility bills? how about credit card bills? grocery, student bills or any other bills? what about their other expenses? what other option they may consider later one? second job? no income? please take care of your finance before is too late

[ashaw987]

If you have setup new budget stick to the budget, don't overextend your credit card, and don't pay just minimum on your credit card because you only pay interest rates and you actually don't paying off your credit card. If you have 18% on your credit card call customers services and ask to lower your credit card interest rates!

[Raven]

a budget is a really handy tool to have if you're wanting to get out of debt - especially if you USE it.

a budget will give you a snapshot of your financial situation right now - which is the first step in knowing what's got to be cut back, what's got to stay and how to make sure you can get where you want to go.

But if you don't know these things, then you're flying blind

[Ricardo]

Originally Posted by ashaw987

If you have 18% on your credit card call customers services and ask to lower your credit card interest rates!

I don't know how many credit card companies that would work with, but I'd suggest watching for another company with a better rate and switching the debt to that company.

It would be important to carefully read the agreement though, and be aware of additional charges to make sure the switch was worthwhile.