Budgeting Tips

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Introduction



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Regardless of whether you are employed or unemployed, it is always prudent to administer sound budgeting practices in your household. Failure to do so, can lead to financial insolvency, should you become unemployed at some juncture. It is important to recognize each and every expenditure that you pay out every month, and it is also equally important to recognize every revenue source that you have each month. The amount of monthly revenue minus the amount of monthly expense yields either a profitable cash flow (money you are saving every month) or a negative cash flow (money lost per month). It is critical that you set up a detailed budget to determine where you stand on a monthly basis, and based on this, come up with a budgeting tips plan to achieve a positive monthly cash flow.

Budget Revenue Items

The following items are sources of revenue that should be tracked each month:

Budget Expense Items

The following items are typical household monthly expenses that should be tracked each month:

Budgeting and Money-Saving Tips

Here are some very handy budgeting and money-saving tips, that will help you trim your monthly expenses, increase your monthly take-home pay, and help you achieve a positive monthly cash flow. You will be amazed how much money can be saved on a monthly basis, by implementing some of these handy suggestions:

Budgeting Books

If you are looking for additional reading on the subject of budgeting, you may want to browse through our Budgeting Books Store.


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