Hi All,
Budgeting won’t make you rich, but its one of those healthy personal finance practices which can have a long run impact on your bottom line. To illustrate we’re running a video from Kiplinger’s Personal Finance (which is an under rated, but really solid provider of unbiased personal finance information). At 3:17 the video is a quick watch so free to check it out if you have a few spare moments.
In case you’re not able to view the vid, here are the main points:
1. Try keeping track of how you spend your money for a month or two
2. Budgeting lets you know where your money is going.
3. Once your awareness about how you are spending your cash improves, you are better able to meet your goals and pay off your highest interest debt
4. Use any budgeting tool that works for you
James Hendrickson
James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.
Budgeting (and tracking our spending) helps us be more careful with our money. Otherwise we seem to just blow it and now know what we blew our money on. while it doesn’t necessarily make us rich, it sure makes it seem like we have more money. :)
Brock,
Thanks for stopping by and thanks for leaving a comment – yes budgeting can work. But it takes time and effort and a positive attitude. I don’t think there are any shortcuts, you’ve just to draw up an accurate budget and stick to it.
Thanks,
James
Pingback:Tips for Setting Financial Goals with Your Spouse - DINKS Finance | DINKS Finance