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Financial Pitfalls: Identifying Your Biggest Weakness

The biggest reason for budget failure is that you did not take the time to address your greatest financial weakness. You need to identify what that is, and then come up with strategies on how to deal with it. My greatest financial weakness is eating out. I am lazy and even though I stay at home, I still never feel like cooking. My husband’s biggest weakness is electronics. Fortunately he rotates on wanting big purchases about every six months. For some people it may be massages or beauty treatments. It may be a new wardrobe for every season for you … Continue reading →

Financial Pitfalls: Necessities vs Luxuries

One common money mistake is to confuse necessities with luxuries. Often people grew up with these items, and cannot seem to fathom life without them. Even though they struggle with paying the monthly bills, they do not think of cutting back on the luxuries, because they mistake them for necessities. Others may think that the bill isn’t that big, so it really doesn’t matter. It is surprising how much the little things add up. Here are five common luxuries that many people consider necessities. 1) The most common luxury that people seem unable to part with is cable or satellite … Continue reading →

Stopping Your Spending Spree

How do you stop a spending spree? Have you ever had one? Be honest. I know that there are a few people who haven’t, but most people experience at least one in their lives. You could have just moved into a new house, and then decided that you did not want to wait to buy new furniture and went a little crazy. You may have gotten a new computer and decided that with the new hardware, you need all the latest software as well. Or it may be a new gaming system, a new big screen television, and a new … Continue reading →

Scaling Back Your Spending

One of the more difficult things to do when you are budgeting is finding areas to scale back on. While a stranger may be able to look at your budget and easily say to cut unnecessary expenses. You may feel that those expenses are necessary for your life. It helps if you can step back and put things in perspective. Also the situation you are currently in can really affect how much you need to cut out completely. If you are in a large amount of debt, and have trouble meeting the payments and buying groceries, you are in a … Continue reading →

My Loves and Hates Around Budgeting

I’ve only been budgeting a short time, so Hubby and I are still feeling our way around. So far, this is what budgeting to me means: Pre- spending your money on paper, before you actually get the cash in hand. Taking a set amount of cash, needed for the week in envelopes. Watching prices at the grocery store. Writing everything down on a daily (hubby) or weekly (hubby and I together) basis to evaluate our financial situation. Sounds easy enough …. NOT! I’m forced to think about things like: What do we want to eat for dinner this week? And … Continue reading →

The Little Things Do Affect Your Budget

The little things add up. If you are looking for extra money in your budget, or if you are wondering where all of your extra money goes after you pay your bills, it is time to take a look at the little items that you and your family purchase on a regular basis. This may be something that you do not even consider large enough to budget for, or take the time to factor in the long-term effects of these little expenses. You may justify that you can spend the extra dollar or two for candy bar or snack when … Continue reading →