Posts Tagged ‘home budget’

Control Your Spending: Home Budget Idea

December 8th, 2009

Setting up a budget is a great way to manage your personal finances. There are many budgeting and personal finance management systems available today, ranging from simple pencil and paper systems to expensive budgeting software. If you’re looking for a way to control your spending, here is a system that is inexpensive and easy to set up and use.

It’s called the envelope budget system, and it’s similar to what your grandparents probably used for managing their money. First, you need to set up a budget by creating categories for things you spend money on each month. Common categories include groceries, dining out, transportation, utilities, entertainment, clothing, household expenses, fun money, and miscellaneous. There will of course be a few things you won’t be able to put in the categories such as automatic withdrawals and bills paid by check. But everything else can be put in your categories. Look at past spending patterns for the categories you set up, and estimate what you will likely spend in the upcoming month.

Next, total up all of the expenses for the month and make a withdrawal from the bank for that exact amount. Then label each envelope with the categories you’ve identified, and fill each envelope with the money you’ve budgeted for that category. For example, if you have budgeted $50 for clothing for the month, put exactly $50 in cash in the clothing envelope.

When you shop or pay a bill, take money from that category you need to pay for. If you need to go to the grocery store, take as much money as you think you will need for your shopping list, and then pay cash for your grocery items at the register. Any excess money you will put back in the envelope for later purchases. Once you’ve spent all of the money in any envelope, you’re done spending for that category.

It’s o.k. to transfer money between categories if you need to, i.e. you have $25 left in your entertainment envelope and you transfer it to your empty grocery envelope. However, you must resist the temptation to visit the ATM or charge your expenses if you run short for the month. It’s important that you learn to spend only what you have in the envelopes to avoid continuing going into debt.

In conclusion, using an envelope budgeting system is a great way to control your spending and get off of the credit charging merry-go-round. With some practice and discipline, you’ll get the system down and learn how to pay off your debt, save money, and build financial stability in your life.

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Home Budget Ideas for Thanksgiving Decorating

November 23rd, 2009

Here are a few Decorating Ideas I found for Thanksgiving.  Great Budget ideas for those of you having family over for this great Holiday!  Wishing everyone a Warm and Happy Holiday!

  • Use throws: Use cozy throws for table toppers, or drape them on chair or sofa arms.
  • *Light your fireplace: Nothing’s more beautiful or soothing on a crisp, cool day or evening than the orange glow of a fire. Be sure to place some cookies and tea or cider on a nearby table for visitors to snack on. It adds to the overall visual effect.
  • *Use candles: Place a few autumn leaves on a surface and then start piling on a grouping of a few candles in staggering heights. (Make sure that you’re not piling so many on that you cause a fire hazard!) Toss a few nuts (in the shell), cranberries, and/or some moss at the base of the candles, and you’re set. Even better, use battery-operated candles for worry-free ambiance.
  • Reuse uncut Halloween pumpkins: If you used an assortment of pumpkins for Halloween decorations, and they remained uncut, reuse them in a fall arrangement. You can also place these in a simple grouping of three or more for an impact of color in your décor, or stack them vertically (on top of each other on a sturdy garden urn) for an instant pumpkin topiary.Core apples and mini pumpkins for impromptu candleholders: Carve out the centers of each and place taper, votive, or tealight candles in each one. If you’re worried about tipping, place each apple or pumpkin in a martini glass, or wedge them into the cups of an old muffin tin and cover the exposed tin areas with moss and small red berries.
  • *Add a table runner to a dining or sofa table: Purchase or make one in velvet or soft, scrumptious chenille in autumnal colors such as dark gold or aubergine. This tiny splash of color adds a big punch to your décor.
  • *Arrange a few bare branches in a pot or urn: Place them in a corner or on top of a dining table for a dramatic statement. If you have a chandelier, weave the branches in between the arms to reach toward the ceiling. The light will cast shadows and highlight the branches beautifully on a cool Thanksgiving evening.
  • *Gather birch logs, twigs, and pine cones in large baskets: Set them by the fireplace. Not only are they great for stoking the fire, but they also add a casual touch of nature in a beautiful way. Scent them by adding a few drops of cinnamon or vanilla oil for an added bonus!
  • *Add small touches in neutral colors: Filling a tall clear glass vase with acorns, pecans, and other assorted nuts in shells adds an autumnal touch that really makes a big statement in smaller spaces.
  • Enlist the kids for these decorating tasks:Gather autumn leaves: Shove a rake in the hand of every willing and able body to gather autumn leaves for decorating. Freshly fallen leaves are perfect ¯ flaws and all ¯ for spreading out on a table around candles and centerpieces or stringing one on top of the other for a stacked leaf garland.Create centerpieces: Kids will love creating individual centerpieces. This project is quick and easy to do ¯ perfect for placing on small tables and keeping little hands busy. Gather an assortment of mini pumpkins, gourds, nuts, batter-operated candles, and baskets or plates for each child. Place a large pillar candle in the middle of the basket or plate and then let each child start placing the items around the base of the candles until he or she gets the desired look.
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Try This Monthly Budget Planner-Budget Ideas

October 6th, 2009

Many people would like to be able to create a budget. But it can seem like one of the most difficult things on the planet to accomplish. By understanding how to create a budget, you’ll be more in control of your finances. Use these 3 steps below to make your own monthly budget planner.

1. Create a list of your monthly income.

Be sure to include all sources of regular income, including part-time jobs. Add up your numbers and write them down.

2. Determine monthly expenses.

Make sure to include food, gas, clothing, utilities, and housing costs. If you’re not sure how much these are, just save your bills and receipts for the next month and you’ll have a more accurate idea.

3. Figure out if your monthly income is enough for all of your outgoing expenses.

Are you making enough meet all of your monthly obligations? If not, then consider reducing expenses in certain areas. One of the biggest areas where people can save money is in entertainment and eating out.

Also, ask yourself if you’re really using all of those services that are part of your monthly bills. Do you really watch all of those T.V. channels? How many unread magazine subscriptions do you have around the house? You may be surprised to find out how much extra found money you can come up with.

After you figure out you income and expenses, then it will be easier to create a budget.

Start estimating how much your bills cost during the next month. If you’re not sure, save your bills and receipts for one month to get some solid numbers of how much your spending. Making a budget in an ongoing learning experience will take some time to perfect. Just stay with it for about 3 months and you’ll be in charge of your money. Isn’t that the way it should be?

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How to Save Money at Home-Home Budget

August 31st, 2009

Supermarket Comparison
The first thing you have to do is to do your research. Visit your local super market and make a note of all the basics such as bread, milk, butter etc. These are you basic products and they give you an idea of how expensive your supermarket will fair compared to another one. I would also recommend making a note of the food and drink items you personally value. For example, I personally like to drink wine and I eat a lot of chicken. Having made a note of these products visit the other nearest supermarket and compare prices.

Go local
Shopping at the big stores can be expensive. These supermarkets tend to dominate the surrounding area and push out local competition. For example, Tesco allegedly has a policy of buying up all the old land in local town centres to prevent other competitors from squeezing its margins.

Fortunately some local shops still survive. The local butcher and grocers are a must if you intend to find bargains. Don’t expect to find lovely straight carrots or perfectly shaped bananas. Instead you will find cheap, honest food, sourced from the local area. Not only is this produce fresh but it also puts money back into the community.

Take it online
Everyone loves a bargain but unfortunately you are never guaranteed one in the shops. There are certain times of the year, such as at Christmas, when you can expect many products to be discounted. However, if you need a bargain here and now why not try online. This becomes even more relevant when you consider the cost of petrol these days.

One of the most obvious stops is the money comparison sites. These sites compare products and services across the range. Be warned as not all of these sites offer any real discount. For example, there are many cases where you can get cheaper insurance by going direct to the seller.
The savvy surfers can also save themselves money by checking online vouchers or discounts for their normal high street shops. Often a store will highlight any in-store promotions online. This is useful to know as the spotty teenager serving you in the store is highly unlikely to be aware of any particular promotions.

Price Wars
Always keep an eye on the news for a bargain. It seems like every winter all the gas and electric companies are fighting for our money. You may not have realised when you think back at all the prices increases. Nevertheless, over time these companies start to reduce their prices in competition between each other. Go to an energy comparison site and see which energy company can beat your existing bill.

Back In The Home
There are literally thousands of small tips and tricks that our grand mothers’ could teach us in order to save money. I don’t really want to go through a lot of these but simply want to draw focus to the obvious. Don’t waste food! It might seem so simple but things like not throwing items out of your fridge once they have reached the “Best before date” will save you an absolute fortune. You should however bin everything that has passed the “Use by date” as this is an official government warning. Nevertheless, items such as pasta are edible far beyond the use by date so just use common sense.

Go Back To Basics
Something else that can save money is to grow your own vegetables. This might not be for everyone as not all of us have gardens. Nevertheless, you can grow your own veg in pots. So no excuses! At the time of writing it was August, so this is not the planting season. This is however a good time to plan your garden for next year. You can plant some seeds as early as February. In the mean time you can prepare the ground. Don’t forget you can also grow herbs in doors throughout the year.

Paul Tom works for Getmetopayday.co.uk which promotes Payday Loans. These are short-term loans that give you a cash advance when you are short of cash.

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Create a Home Budget

August 28th, 2009

Creating an effective budget is vital for saving money, getting out of debt and creating a sound financial future. Here are a few helpful pointers to get you started.

First you need to set adequate time aside to devote to creating a budget. The process takes some time, but it is worth it so hang in there. Then you need to gather all of your important financials: paycheck stubs, last year’s tax return, bills and your credit report. These items give you a full view of your complete financial picture. Last year’s tax return allows you to compare what you were making last year to this year and anticipate how much money you will owe or get back this year so you can include that in your budget plan.

Your credit report will alert you to where you stand with debt and credit so you can better calculate how much you owe on all of your accounts and how long it will take you to pay them off. Your credit report can also give you insight as to what types of new loans you may qualify for so if you are preparing for an upcoming car or home purchase you can go into it with more information.

Keep record of what your expenses are for one month detailing everything. This gives you a realistic picture of how you spend. If you go the movies and out to dinner once a week with your significant other only allotting yourself $100 for a monthly entertainment budget might not be realistic. You need to be honest with yourself when budgeting. Either you need to stick to the guidelines you set for yourself of budget for your monthly ‘splurges’.

Try out your new budget. If it doesn’t work out well don’t just scrap it. Make adjustments where necessary and keep saving.

See your credit score for free, and find out what kind of loan you qualify to receive. See where you stand on the credit score scale and how you compare to the national average.

Article Source: http://EzineArticles.com/?expert=Gina_Delgado

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Home Mortgage Calculator – IPhone Web App

April 14th, 2009

I just launched a new IPhone web App. It is a home mortgage calculator designed to play nicely on the Iphone. Don’t have an Iphone? Don’t worry, you can still use the calculator here–> Mortgage Calculator. I found a great, free PHP script that powers this mortgage calculator. I had to tweak the code and change the design to fit nicely on an IPhone. The sad thing is, I still don’t have an Iphone… my contract is almost up though and I plan to get one soon.

I tested this via an IPhone emulutor.  Enjoy-

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Why You Need to Have a Budget

July 30th, 2010

Having a personal budget is a key part of your personal financial plan. You have to have a plan because without one you would be lost. Can you imagine trying to go from New York to Los Angeles without a Map? How about trying to find a little more obscure city like Eureka, CA? You could probably do it and there would of course be signs along the way, but it would not be very efficient and you would certainly get lost along the way.

Well, that is what it is like without a budget, you get lost. Your budget is your financial map to getting out of debt as fast and efficient as possible. It also works the other way and makes saving towards your goals happen quicker and effectively. A budget is simply a tool for setting out your goals for how you want to spend your and then compared with your actual spending. Using one forces you to specifically allocate money to saving and toward debt.

Can you imagine if a Fortune 500 company operated without budget? I can tell you they wouldn’t be a Fortune 500 company for long. Sometimes these companies get so big monitoring becomes hard, but this isn’t so for your life. Budgeting is actually an easy process, especially when you have a template already set up for you and all you have to do is plug in the numbers.

Once you have your budget set up you’ll be able to quickly see where your money goes. You need to know where your money goes in order to make changes in your spending. Part of budgeting is setting goals for yourself and your finances. Along the way you will have to make adjustments in order to achieve these goals, but it starts with having a base understanding of where the money goes first.

Budgeting helps you identify what areas you spend money on and where you can cut back by breaking things down into luxuries and necessities. In times of high debt you will have to cut back on those luxuries, but it doesn’t mean you can’t enjoy life and find fun things to do. It just takes a little more effort to find free or inexpensive activities.

Budgeting will flat out save you money though. By tracking your expenses you end up tracking things that are tax deductible. This will make your year end taxes easier but also alert you to deduction you can take which you might have forgotten had you not been tracking them in a budget.

Also, by tracking expenses you stay on the ball and don’t miss deadlines. Late payments can hurt your credit score and you’ll get hit with late payment penalties, which only make getting out of debt harder.   Monitoring expenses will alert you to charging prices as well as any charge ups where you are getting hit with fees that weren’t there the month before.

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