How to create a Relasitic Budget

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Budgeting to me is a very scary word, but at the same time I also understand that it is very important. How can I create a realistic budget.. Please Help

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Annadonald,

Welcome to the forum.

Budgeting is really a very important task that everybody should consider. To create a realistic budget, the crucial thing that you should do is to chalk out your monthly expenses in accordance with your income. You should also try to save some money every month.

But it is better if you consult with a financial advisor. He will be the right person to prepare your budget and give you the proper direction to make your expenses.

ezmortgageloanz · Posted: Tue Sep 11, 2007 1:42 am Post subject:

Due to the miracles of software automation--- Very Happy

---there are several user friendly programs that will not only educate you on why/what/how you should budget, but will intregrate this other personal finance features, making a layman look like a CPA...

There are many, my personal favorite is Quicken---some will say MS Money...

Regards,

Scott Miller

Caron · Posted: Tue Sep 11, 2007 5:14 am Post subject: RE: how important is budgeting

Hi Annadonald,

Welcome to our forums.

I would agree with Scott here. There are several software programs available and these are quite useful to develop a budget. Budgeting is indeed essential for us. The idea is to list down the expenses on each item on a monthly basis, whether it's your daily usable item or your debt payments. It helps you to keep a track of how much you are spending in each category, so that you can analyze where you need to cut down the expenses.

Good luck

adonis · Posted: Tue Sep 11, 2007 5:18 am Post subject:

Hi Scott,

My favorite is the simple Budgeting tool developed by this community. BTW, have you ever taken a look at it?

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