Budgeting is Bothersome

It doesn't take much for you to get behind on monthly bills, but it sure takes some time to catch up. The comparison in my mind is to weight gain. A one-week vacation can easily pack on 5 to 7 pounds. Losing that weight however, can take a good month of cardio. That's no fun, and neither is trying to find the extra cash to pay last month's credit card payment.

Every financial professional's suggestions in regards to budgeting seem so simple. Five percent to savings, thirty-five percent to housing expenses, ten percent for food?tell me honestly, am I supposed to put all my cash in individual envelopes and label them with their assigned debt? Let's get real here. Debt is an overpowering epidemic in America. It's growing every year. I think its time that someone actually made sense out of it all.

If we start in the beginning, it is important to make a budget for your household. Start with any program you like. Try shopping around online for different budgeting calculators. Once you find one that work for you, start making it realistic. It's easy from an outside standpoint to put everything in a box of percentages. What if your numbers don't add up? It's time to think outside the box.

When considering housing expenses, you may be over your limit. An average target is 35%. If you own your home, you can't just sell it and move back with Mom and Dad to save money and refinancing may cost you more in closing costs than you are actually saving. If you need a little extra in one part take it from another. Reduce some of your more flexible expenses like a cell phone bill or clothing costs. Find a less expensive plan and shop the sales at the department stores.

As far as money allotted for paying down debt like credit cards and student loans, you can shave a little off of savings until the balances are paid down or paid off completely. It is important with credit card debt to pay more than the minimum amount due, otherwise you are paying mostly interest and very little of your balance. Student loans however can be paid off in minimum payments without costing you enormous interest rates.

Food expenses should average about $150 monthly per person. This is the total amount including grabbing a bite to eat at the local restaurant. Look for sales at the supermarket and cook at home more often. Frozen and gourmet prepared foods are more expensive than home cooking. Break out the recipe book; your family may just thank you for it.

You realize the basic idea, but what if you don't fit into this category either. If your debt is far less manageable you can contact your local Consumer Credit Counseling Service or a debt consolidation company to help you get back on track. If your credit is still in good shape you may be able to get a low interest loan to consolidate debt yourself with monthly payments you can afford.

It's understandable that with today's busy schedules and the high demands placed on the working family that the last thing you want to do after a long day is to work on your budget. Unfortunately money problems don't go away by themselves. Either deal with them head on and find a way to work through them or they will catch up with you.

Jason M. Rigler
Cash now for future payments

---

Check Fraud and Verification

Before buying personal or business checks you should inform yourself of the best ways to protect yourself from check fraud. Since man has written checks check fraud has existed. Like any fraud, check... Read More

Vesting and Your 401(k)

Do you have a 401(k) retirement account? Are you vested yet? Before you move on to your next job, it is critical for you to find out if you are fully vested in... Read More

Planning Ahead with Your Finances

If you, like most people, have not seriously considered what steps you should take for planning your finances and are now planning on buying a house, getting married or having children, you will... Read More

Budgeting Made Easy

Well, dang! From what I've heard and read, it looks like we've reached an all-time world-class new record in the amount of personal debt on the books. Now it's probably not quite as... Read More

Vacations Made Easy: Buying a Florida Investment Property

Vacations Made Easy: Buying a Florida Investment PropertyA relaxing beach vacation means different things to different families. However, imagine returning from a long day in the sand and waves, hair dripping and tan... Read More

How to Draw a Personal Budget that Works

Many people spend their little income haphazardly without any planning and end up getting broke before month-end. They then borrow to make ends meet and end up with more problems that they fail... Read More

10 Quick And Cheap Ways To Cut Your Heating Bill

When you received an energy (heating) bill last winter, were you afraid to open it? Granted that we have a home with a lot of really big windows, but we saw energy bills... Read More

The Changing Shape of Family Finances

Super-mumsIt seems that the proof of maternal efforts is no longer found in the pudding ? it's in the spending. Women are increasingly outsourcing personal grooming tasks and the pressure of looking good,... Read More

How To Get Ahead On A Low Income

Do you struggle from week to week trying to make ends meet? Are you consistently going without things that you really wish you could afford? Well I have some possible and practical solutions... Read More

10 Steps to Take if You Are a Victim of Identity Theft

There have been an estimated 9.9 million victims on America and over 40% of all consumer complaints in the U.S. involve identity theft. About half of the victims do not know how the... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes when you take the money out at retirement in the future. Make sure that this account is really worth opening in your situation... Read More

Im Broke, How Can I Afford...

I'm still amazed every time someone comes to me complaining that they don't have any money to put into their business and that they're broke.I mean what have you been doing with your... Read More

Credit Card Debt ? Watch Your Credit Report and Your Bill

Most consumers are aware of the importance of their credit report. This document, offered to consumers and lenders by the three major credit bureaus, offers a fairly complete list of financial transactions and... Read More

Learning the Basics of Handling Money

With prices increasing all the time, saving money can be harder and harder to do. Here are some solutions for saving a little so that you can still meet your needs and still... Read More

Resources to Help You Learn About and Protect Yourself from Identity Theft

There is a new bill that is being passes, it is a very weak bill but if passed, it will prohibit using a social security number for identification purposes. This bill should take... Read More

What?s New in Checking ? From Designs to Photos

Just about everyone has a checking account. Checks present easy ways to make payments and they have simply become a way of life. Most checking accounts are pretty much the same, but there... Read More

10 Steps To Improve Your Financial Situation

Here are ten steps you can follow to help improve your personal financial situation and inevitably save more money:1. Pay Yourself WeeklyThis may seem a bit odd, but this is an excellent way... Read More

First Checking Account ? When is it Time?

We all know that money doesn't grow on trees, but we all need it to survive. The use of cash will only go so far in life, as you can't send it through... Read More

A Fresh Start for Family Finances in 2005

While 40% to 50% of us make New Year's resolutions on January 1-a ritual that has existed since ancient times-approximately 60% to 80% of us have already broken them by the end of... Read More

Chex Systems ? Why Every American Needs To Guard His Checking Account With His Life

Most Americans have been brought up to be concerned about a good personal credit rating, because of the role a positive rating can play in your long term plans; purchasing a home, buying... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion. Call Me Crazy! I love It!Why, who wouldn't love getting paid to buy products that they use everyday?Here's how I do it.I purchase... Read More

Budgeting your Savings - Did You Let Your Piggy Bank Get Away?

I think most of us have at some point in our lives. Some how we forget to feed the little piggy. And, like most neglected "pets", your piggy bank will disappear if you... Read More

Budget Planning - Its Elementary My Dear Watson

Does it feel like you have to be Sherlock Holmes to solve the mystery behind balancing your personal budget? Are you living a mysterious thriller where your realization of "financial independence and security"... Read More

Basic Bank Accounts Failing the Basic Needs of Consumers

The lists of bank and savings accounts that are available to most people are bewildering. A quick look at a comparison site like Moneynet or Moneyfacts will reveal thousands of different products. Unfortunately... Read More

Help With My Annuity

The cries are heard from the distance, "I need help with my annuities." Nothing has changed...just a lonely senior who can't trust anybody with her annuity because every time she asks for advice,... Read More

Why Live Frugally

What is it about being frugal, why do it at all? Actually, some people don't do it at all, they have decided that what they want and desire is what they are going... Read More

Car Donations and Used Car Donations

Car donations and used car donations are the way many people choose to recycle their older model cars without having the headache of repairing, advertising, showing, and hopefully then selling them. Being able... Read More

Accessing Funds You Never Knew You Had- Household Utilities and Mortgage Expense Reduction Plan

For most of us the process of getting out of debt and pursuing a venture that would create an income stream leading to early retirement seems just a pipe dream. It goes without... Read More

Eight Ways To Sink Yourself Financially

1. Don't focus on your finances.The reason most people get into debt is because they don't spend enough time focusing on their finances. You need to get a grasp of where you're at... Read More