Search Results for: blog using a ledger system for your budget

Budgeting Time Savers

One reason many people hate budgeting is because it is time consuming. It can take an hour to balance your checkbook each month, especially if you can’t find the one mistake that you made. It is more difficult than just balancing your checkbook, since you need a constant running total of what you have spent where. It usually falls on the shoulders of one spouse, who then becomes resentful about having to deal with it all the time. While the initial planning and setting up of your budget may take awhile (sorry there is no way around it), here are … Continue reading →

Four Ways to Track Your Expenses

Do you track your expenses? This can be a lot of work. It is important to do however. You do have several options available to you, when it comes to tracking your expenses. One reason that you should track your spending is that it is difficult to find where you are overspending, if you are not aware of where the money is going. Here are several options available to you: 1) You can keep a written ledger of all your expenses. “Rich on Any Income” has a great program that you can do this on. It fits directly into your … Continue reading →

The Importance of an Annual Budget

One way to plan your budget is to complete an annual budget. This is a great strategy because it allows you to plan and save for the expenses that come once or twice a year, which can often break a normal budget. It is fairly easy to switch to an annual budget if you already have a monthly budget in place. If you do not have a budget in place, then you will need to sit down and figure out how much you spend on each budget category during each month or over the course of the year and average … Continue reading →

Using a Ledger System for Your Budget

Budgeting is the first and most important step to managing your money. Many people balk at the idea of a budget because it can be time consuming. It does take time and work to establish a budget. It can cause contention between spouses. It often wakes people up to the reality of their situation, which can be bit scary. If you don’t actually track your expenses during the month, then having a budget is worthless because you are not applying all your planning to your situation. You can learn more about setting up a specific budget here. By setting up … Continue reading →