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<h2 class = 'uawtitle'>How Difficult is it to make a Budget?</h2><div style='font-style:italic;' class='uawbyline'>by Samantha Asher</div><div class='uawarticle'><br />Budgeting is a scary word to many people. It is nerve-wracking because it means you have to stop spending money. It is scary because it means hours and hours spend bent over a spreadsheet trying to figure out how to save even more. They think that they could never do it because it's so complicated.<br />
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Is budgeting really that hard? It can be as hard or easy as you make it. Fortunately, with the right tools, you can make a very simple budget that is really easy to stick to. Before starting, you need to know how much money you earn and spend each month.<br />
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For most people, it's very simple to calculate income because they only have one salary, but also include any other income including interest on a savings account or CDs, dividends, capital gains, royalties, tips, and all other income. <br />
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Next, do the same with your expenses. Write down everything you spend money on including your rent or mortgage payments, property taxes, utilities, food, car payments, your daily coffee, and anything else.<br />
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Once these are added up, subtract your spending from your income. If you get zero or just above zero, you are breaking even. You need to budget in order to start saving, especially if you want to get out of debt and feel more financially secure. A negative number means you are going further and further into debt each month.<br />
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If you have a negative number and are going into debt, you are probably using a credit card to pay for the excess. This must stop and can be controlled by a budget. If you have a large positive number, you are in a great position. You might already be budgeting! By tightening up your budget or creating one if you don't already have one, you can reach your financial goals even faster.<br />
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You can use budgeting software such as Quicken, you can use a spreadsheet, or you can just use a notebook and pen. All you have to do to budget is plan out where you spend your money and how much. Put a certain amount for food, rent, etc. Be as specific as possible, including how much goes to entertainment and other extra fun stuff.<br />
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When you start budgeting, you will find out that it is not as hard as you thought. The longer you do it, the easier it is. Keep at it and you'll make a habit and you'll find ways to be frugal with the things you don't care for so that you can buy the things you really want.</div><div class='uawresource'><div style='font-style:italic;' class='uawabout'><br />
About the Author:<br />
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