Archive for December, 2006
Who can I go to for good advice on budgeting money?
robynd123 asked:
I am not in debt but my money is gone every month. How can I find out where all my money is going? I need help.
Annmarie Klos
I am not in debt but my money is gone every month. How can I find out where all my money is going? I need help.
Annmarie Klos
Budget Airlines – Cheap For A Reason?
For every person that has bought a flight on the internet and wondered why it is so cheap – this article will explore and hopefully dispel the myths that surround budget airlines. Like everything in life and as the old saying goes, you get what you pay for. But is it worth saving that extra cash for your trip or splashing out on this small part of your holiday.?
So, you buy the ticket at a great rate, albeit with some hidden taxes, charges and fee and prepare for a great holiday. As the day of departure approaches, you eagerly anticipate the holiday or trip itself, but you are probably a little apprehensive about the flight. For those who haven’t used budget airlines before, it is hard to know what to expect from the flight.
Travelling by aeroplane can be awkward, irritating and tiresome so you expect a budget airline could be worse. All the worst things about flying will be emphasised by the ‘budget’ part of the flight company. Will you regret this decision that seemed such a good one when you made the booking?
Leading up to the flight, you may get e-mails regarding information that you need to provide to assist a smooth check-in. You can opt for an online check-in, allowing you priority boarding on to the plane. This is a great idea as some flights will not have seat numbers, forcing groups to be separated as the plane fills up.
Providing the information via e-mail enables a quick check-in at the airport with queues reduced to a few people at a time. The whole process is reasonably easy and makes your experience even better as you seem to be able to take more advantage of the duty-free and airport shopping.
Boarding the plane is as difficult as normal airlines, if not more difficult due to the lack of numbered tickets. As you make your way up the stairs, the delays are noticeable as people hunt for enough seats together to keep their families and friends close by. This is mildly irritating, especially in the cold and wind, but also can be a common problem on the more expensive airlines.
Finding a seat is a race and for people travelling in groups is a dog-eat-dog situation. Regular budget fliers are clearly aware of how to take advantage and will punish hesitation in the newer budget travellers. Go in focussed and make sure you grab that seat before someone else does. You will regret it if you delay for only a few seconds as a budget airline is a dangerous place for consideration and politeness.
Once seated, those travellers over a metre tall will notice the considerably small amount of leg-room allocated. As a flier that struggles with my knees on any aeroplane, I was quick to realise that leg-room is at a premium on budget flights. Again, early boarding can rectify this problem before it starts, be quick to grab the emergency exit seats as there is ample room for six footers and up.
As the flight commences, don’t expect a meal. Free food is one of the sacrifices that budget airlines will force upon you. Not the biggest loss, especially as it usually adds a substantial amount to the overall cost of the flight. If you get hungry while flying, take some cash and take advantage of the various snacks available. They may cost a small fortune but what do you expect when you are flying a thousand miles for five pounds.
Don’t expect a peaceful journey. You may feel bombarded with sales pitches and various products will be presented for your perusal. Again, they are looking to boost profits and who can blame them when they get me so far for so little money? If you manage to resist the hot croissant, glass of wine or scratch-cards (for charity, of course) then the flight will still be cheap.
When you land in your chosen destination you may face the next problem with budget flights. It would appear that a lot of the cost of flying could be in the location that you land. The flight may tell you that you are landing in Barcelona or Rome, but you could be a hundred miles from the city. Again, this can be sorted out pretty easily with a train or bus ride – not pushing the cost of travel to anywhere near that of a non-budget airline.
Overall, the cost of flying with a budget airline is certainly the key benefit. Regular fliers with premium airlines will find the flights a little uncomfortable and not as pleasurable but the price certainly makes up for any inconvenience.
As long as you know what to expect, budget airlines tick all the right boxes and sacrifice the luxuries that you won’t miss at all. The flights are cheap and still get you there so what’s so bad about no in-flight meal and restricted leg-room? Budget airlines may be cheap but that’s not a bad thing when they offer such a competitive service to those of us that can’t afford to fly in a winged five-star hotel.
By: Patrick Omari
About the Author:
So, you buy the ticket at a great rate, albeit with some hidden taxes, charges and fee and prepare for a great holiday. As the day of departure approaches, you eagerly anticipate the holiday or trip itself, but you are probably a little apprehensive about the flight. For those who haven’t used budget airlines before, it is hard to know what to expect from the flight.
Travelling by aeroplane can be awkward, irritating and tiresome so you expect a budget airline could be worse. All the worst things about flying will be emphasised by the ‘budget’ part of the flight company. Will you regret this decision that seemed such a good one when you made the booking?
Leading up to the flight, you may get e-mails regarding information that you need to provide to assist a smooth check-in. You can opt for an online check-in, allowing you priority boarding on to the plane. This is a great idea as some flights will not have seat numbers, forcing groups to be separated as the plane fills up.
Providing the information via e-mail enables a quick check-in at the airport with queues reduced to a few people at a time. The whole process is reasonably easy and makes your experience even better as you seem to be able to take more advantage of the duty-free and airport shopping.
Boarding the plane is as difficult as normal airlines, if not more difficult due to the lack of numbered tickets. As you make your way up the stairs, the delays are noticeable as people hunt for enough seats together to keep their families and friends close by. This is mildly irritating, especially in the cold and wind, but also can be a common problem on the more expensive airlines.
Finding a seat is a race and for people travelling in groups is a dog-eat-dog situation. Regular budget fliers are clearly aware of how to take advantage and will punish hesitation in the newer budget travellers. Go in focussed and make sure you grab that seat before someone else does. You will regret it if you delay for only a few seconds as a budget airline is a dangerous place for consideration and politeness.
Once seated, those travellers over a metre tall will notice the considerably small amount of leg-room allocated. As a flier that struggles with my knees on any aeroplane, I was quick to realise that leg-room is at a premium on budget flights. Again, early boarding can rectify this problem before it starts, be quick to grab the emergency exit seats as there is ample room for six footers and up.
As the flight commences, don’t expect a meal. Free food is one of the sacrifices that budget airlines will force upon you. Not the biggest loss, especially as it usually adds a substantial amount to the overall cost of the flight. If you get hungry while flying, take some cash and take advantage of the various snacks available. They may cost a small fortune but what do you expect when you are flying a thousand miles for five pounds.
Don’t expect a peaceful journey. You may feel bombarded with sales pitches and various products will be presented for your perusal. Again, they are looking to boost profits and who can blame them when they get me so far for so little money? If you manage to resist the hot croissant, glass of wine or scratch-cards (for charity, of course) then the flight will still be cheap.
When you land in your chosen destination you may face the next problem with budget flights. It would appear that a lot of the cost of flying could be in the location that you land. The flight may tell you that you are landing in Barcelona or Rome, but you could be a hundred miles from the city. Again, this can be sorted out pretty easily with a train or bus ride – not pushing the cost of travel to anywhere near that of a non-budget airline.
Overall, the cost of flying with a budget airline is certainly the key benefit. Regular fliers with premium airlines will find the flights a little uncomfortable and not as pleasurable but the price certainly makes up for any inconvenience.
As long as you know what to expect, budget airlines tick all the right boxes and sacrifice the luxuries that you won’t miss at all. The flights are cheap and still get you there so what’s so bad about no in-flight meal and restricted leg-room? Budget airlines may be cheap but that’s not a bad thing when they offer such a competitive service to those of us that can’t afford to fly in a winged five-star hotel.
By: Patrick Omari
About the Author:
Patrick is an expert Research and Travel consultant. His current interest is in Luton airport parking, Heathrow Terminal 5 parking and Airparks Luton.
Darline Lavanchy
Budget Basics – Budgeting your Way to Financial Freedom
Anyone who desires a brighter financial future must make sure to live in the financial present. This requires the creation of, and adherence to, a budget. This simple yet critical step to financial freedom is often ignored. Many people feel it is overly complicated; or they believe themselves thrifty enough that creating a working budget is unnecessary. The fact is that very few of us do not need improvement with financial planning; most of us would be surprised – even shocked – to see exactly where our money goes.
Budgetary Preparation
If you want to create your own budget from scratch, begin by tracking every dollar you spend for at least a month. Credit card and bank card purchases can be monitored easily by looking over your monthly statement, which is usually available online instantly. Make sure to track all of your cash purchases, as well. It is important to know where every dollar goes. Spend a little time categorizing the purchases. You should have at least one category for savings or investments. Pay yourself first!
You can also find preformatted budget templates on financial planning software, like Microsoft Money or Quicken, or on the web. If you go this route, find a budget template with a large number of categories. You can then pare it down to suit your lifestyle and spending habits. The benefit of this is that you may see some categories that you had not thought of. If some categories do not apply to you, simply eliminate them.
Building Your Budget
Open up your favorite spreadsheet program. The top row of your budget will be your monthly income. If your income varies from month to month, use a low estimate, so that you have a cushion.
Under your income, put in each of the categories you created. Each expenditure should be subtracted from your monthly income. Refer to the “Help” button on your spreadsheet program if you are unfamiliar with how to do this – don’t worry, it is very easy. The last line will be the overage or shortage of money for that month.
Optimizing Your Budget
If you end up with a negative number at the bottom of your budget spreadsheet, you are spending more than you are making. Seeing that, you may be tempted to run to the phone to call a financial planner; but that costs money, which you do not have. You can very likely fix your financial problems yourself. Save the money.
Review each spending category and determine where you can make cuts. Create a new column on your spreadsheet. Enter in your goals for next month’s spending – be aggressive, you are striving for financial freedom. Keep adjusting until the bottom number is positive.
The next step is one that cannot be skipped or taken lightly. At the end of that first budgeted month, compare your actual spending to the numbers you set as your goals. Do this with every single category for the first two or three months. By then, you will know which areas need work, and you can focus more on them.
Budget Success
If you can get to the point where there is always a positive number at the bottom line, you will experience the sensation of “budget elation.” Resist the temptation to spend the extra money on a party to celebrate your frugality. Do not buy a self-congratulatory flat screen TV. Feel free to pat yourself on the back, though. The extra money should be saved or invested. Save for a dream vacation or for your kids’ education, without worrying where your next meal will come from. Invest for your retirement or start your own business. Financial freedom will come if you make your money work for you. The world will be your oyster soon enough, as long as you remember:
Pay Yourself First!
By: Michael Rasco
About the Author:
Budgetary Preparation
If you want to create your own budget from scratch, begin by tracking every dollar you spend for at least a month. Credit card and bank card purchases can be monitored easily by looking over your monthly statement, which is usually available online instantly. Make sure to track all of your cash purchases, as well. It is important to know where every dollar goes. Spend a little time categorizing the purchases. You should have at least one category for savings or investments. Pay yourself first!
You can also find preformatted budget templates on financial planning software, like Microsoft Money or Quicken, or on the web. If you go this route, find a budget template with a large number of categories. You can then pare it down to suit your lifestyle and spending habits. The benefit of this is that you may see some categories that you had not thought of. If some categories do not apply to you, simply eliminate them.
Building Your Budget
Open up your favorite spreadsheet program. The top row of your budget will be your monthly income. If your income varies from month to month, use a low estimate, so that you have a cushion.
Under your income, put in each of the categories you created. Each expenditure should be subtracted from your monthly income. Refer to the “Help” button on your spreadsheet program if you are unfamiliar with how to do this – don’t worry, it is very easy. The last line will be the overage or shortage of money for that month.
Optimizing Your Budget
If you end up with a negative number at the bottom of your budget spreadsheet, you are spending more than you are making. Seeing that, you may be tempted to run to the phone to call a financial planner; but that costs money, which you do not have. You can very likely fix your financial problems yourself. Save the money.
Review each spending category and determine where you can make cuts. Create a new column on your spreadsheet. Enter in your goals for next month’s spending – be aggressive, you are striving for financial freedom. Keep adjusting until the bottom number is positive.
The next step is one that cannot be skipped or taken lightly. At the end of that first budgeted month, compare your actual spending to the numbers you set as your goals. Do this with every single category for the first two or three months. By then, you will know which areas need work, and you can focus more on them.
Budget Success
If you can get to the point where there is always a positive number at the bottom line, you will experience the sensation of “budget elation.” Resist the temptation to spend the extra money on a party to celebrate your frugality. Do not buy a self-congratulatory flat screen TV. Feel free to pat yourself on the back, though. The extra money should be saved or invested. Save for a dream vacation or for your kids’ education, without worrying where your next meal will come from. Invest for your retirement or start your own business. Financial freedom will come if you make your money work for you. The world will be your oyster soon enough, as long as you remember:
Pay Yourself First!
By: Michael Rasco
About the Author:
Michael Rasco created WarOnCreditCardDebt.com to help others attain victory over credit card debt, and control over their personal finances. This information is based on his research on personal finance and lengthy personal experience with the burden of credit card debt.
Candace
Keeping Your Home Budget or Budget Spreadsheet From Floundering in the Wake of an Un-attended Checkbook
Sitting at your favorite restaurant hand-in-hand with your special someone with a steady stream of culinary delights wafting by, lights down low, and the occasional whispering of what might be violin music from somewhere in the establishment. What was to be the beginning of a night to remember in one sense of the word is now, instantly transformed into a night you would more likely want to forget by the look of distain engraved, as if on granite, worn by the face of your returning waitress; your credit card did not go through!
More often then not when we start to speak about a home budget or budget spreadsheet, we tend to focus on the setting up and the working with the budget; as if that was all there was to running a family’s home budget; never touching on the broader and more general aspects of home budgeting that interlace to form a overall successful financial picture. The successfulness of your budget spreadsheet will be reflected in how you handle, define, and process all of your financial information. For today’s discussion, we will only focus on your family’s checkbook and the effects misinformation can have your family’s home budget.
Checkbook registers come in many sizes, shapes, and colors; yet, for all of their physical diversities, their only function is to provide information about your bank account. And since you are basing your lifestyle on the amount of funds in your bank account; it would behoove you to have an accurate account. Remember, you are the first line of defense against potential problems that can arise from having misinformation. Of course, you can be like our friend above who waited and had his card returned, deflated and useless only then to realize that there is a serious problem.
First, you must balance your checkbook. You can either use software, or pen and paper to accomplish this task. Now, if the concept of balancing a checkbook eludes you, just search the internet on how to balance your checkbook. And, as you balance your checkbook, you should pay particular attention to missed transactions, bad math, or any unexpected transactions. I remember that on one occasion I had recorded an unexpected deposit as a withdraw in my checkbook register. So, to my chagrin, my $150.00 deposit became on paper, a $300.00 withdraw.
Once your checkbook is balanced, you should take a moment to look at the wealth of information contained therein. What? What is this wealth of information you are talking about? Try looking at your checkbook as a snap shot of your spending habits over time. By looking at what you purchase, where you go to purchase it, and how frequently you travel there to purchase it; it will soon be clear to your brain that all of those little trips to the store sure do add up! Look at all the gas you are using, and the wear and tear you are putting on your vehicle. Since you are spending the money already, you might as well purchase the items once a week and not on an everyday basis. Likewise, since you already know the items that you purchase on a daily basis, you might consider buying them in bulk (only if bulk means costing less!).
Keep your home budget or budget spreadsheet from floundering. Gain the benefits of understanding what your spending habits are. Please, do not forget that you are the first line of defense against misinformation! No one tries to drive their vehicle with their eyes closed because they know that they will soon disassemble their vehicle by the means of a tree. In the same sense, that is how it is for those who close their eyes to their home budget spreadsheet; soon they too have undone all of their dreams in life. An un-attended checkbook can cause your budget spreadsheet to reflect money that you may not have. It will give others un-monitored access to your checkbook. There is no happy end to an un-attended checkbook. If you do not understand your spending habits, and control your financial picture by the means of a home budget or budget spreadsheet. Soon, very soon, your money will be needlessly in someone else’s bank account!
My name is Michael Reichwein and I would like to invite you to come and visit our home budgeting spreadsheet website at http://www.bottomlinebudget.com today. You will be able to see the solutions that we have implemented in our budgeting spreadsheets and checkbook spreadsheet, that have enabled families from all over the world in making their home budgeting dreams come true! Take the challenge! Come, use our free download, and see if you can start building your dreams today!
By: Michael Reichwein
About the Author:
More often then not when we start to speak about a home budget or budget spreadsheet, we tend to focus on the setting up and the working with the budget; as if that was all there was to running a family’s home budget; never touching on the broader and more general aspects of home budgeting that interlace to form a overall successful financial picture. The successfulness of your budget spreadsheet will be reflected in how you handle, define, and process all of your financial information. For today’s discussion, we will only focus on your family’s checkbook and the effects misinformation can have your family’s home budget.
Checkbook registers come in many sizes, shapes, and colors; yet, for all of their physical diversities, their only function is to provide information about your bank account. And since you are basing your lifestyle on the amount of funds in your bank account; it would behoove you to have an accurate account. Remember, you are the first line of defense against potential problems that can arise from having misinformation. Of course, you can be like our friend above who waited and had his card returned, deflated and useless only then to realize that there is a serious problem.
First, you must balance your checkbook. You can either use software, or pen and paper to accomplish this task. Now, if the concept of balancing a checkbook eludes you, just search the internet on how to balance your checkbook. And, as you balance your checkbook, you should pay particular attention to missed transactions, bad math, or any unexpected transactions. I remember that on one occasion I had recorded an unexpected deposit as a withdraw in my checkbook register. So, to my chagrin, my $150.00 deposit became on paper, a $300.00 withdraw.
Once your checkbook is balanced, you should take a moment to look at the wealth of information contained therein. What? What is this wealth of information you are talking about? Try looking at your checkbook as a snap shot of your spending habits over time. By looking at what you purchase, where you go to purchase it, and how frequently you travel there to purchase it; it will soon be clear to your brain that all of those little trips to the store sure do add up! Look at all the gas you are using, and the wear and tear you are putting on your vehicle. Since you are spending the money already, you might as well purchase the items once a week and not on an everyday basis. Likewise, since you already know the items that you purchase on a daily basis, you might consider buying them in bulk (only if bulk means costing less!).
Keep your home budget or budget spreadsheet from floundering. Gain the benefits of understanding what your spending habits are. Please, do not forget that you are the first line of defense against misinformation! No one tries to drive their vehicle with their eyes closed because they know that they will soon disassemble their vehicle by the means of a tree. In the same sense, that is how it is for those who close their eyes to their home budget spreadsheet; soon they too have undone all of their dreams in life. An un-attended checkbook can cause your budget spreadsheet to reflect money that you may not have. It will give others un-monitored access to your checkbook. There is no happy end to an un-attended checkbook. If you do not understand your spending habits, and control your financial picture by the means of a home budget or budget spreadsheet. Soon, very soon, your money will be needlessly in someone else’s bank account!
My name is Michael Reichwein and I would like to invite you to come and visit our home budgeting spreadsheet website at http://www.bottomlinebudget.com today. You will be able to see the solutions that we have implemented in our budgeting spreadsheets and checkbook spreadsheet, that have enabled families from all over the world in making their home budgeting dreams come true! Take the challenge! Come, use our free download, and see if you can start building your dreams today!
By: Michael Reichwein
About the Author:
I am Michael Reichwein, the CEO of Bottomline Budget. My wife and I have called Pennsylvania, USA our home for more then 30 years to date. We originally, did not intend in selling our “family home budget spreadsheets”, as a web based business. However, as time advanced as it usually does, it became unavoidable. The funny part was that I did not venture out into the internet looking for software and spreadsheets advocated by other authors in order to gleam as it were, the elements they had gleamed from others. Instead, my concept was in building the spreadsheets around the needs of our family at that particular time in history; and then placing those derived elements into an easy to use format. I am sure that if you use them, you find them as useful as my family has over the last Eight years!
Michael Reichwein (CEO)
http://www.bottomlinebudget.com
David Prowse
Personal Loans – How to Avoid Them by Budgeting
Budgeting your way through life is usually associated with struggle and with financial hardship. But actually, it does not have to be that way. If you keep a positive attitude towards planning a monthly budget, you will be able to do it without feeling you are wasting your time. And most importantly, you will be saving money rather than spending it on things you do not need.
Financial plans not only are the perfect aid when it comes to setting aside money but also become crucial when expenditures need to be controlled and monitored. Continue reading to find many ideas to help you to set up a budget and feel good about it!
Budgeting For Dummies
Once you get the hang of it, budgeting will become easier and easier every month until it grows to be a part of you. The first thing you need to do, is decide whether you want to make an electronic budget (computer or palm) or a hand-made one (pen and paper). Electronic ones might be easier to keep up to date, but I recommend you to work only with what makes you feel comfortable as you will be using it every month.
Now that you have chosen your budgeting method, you will have to make a list of all of your sources of income. You can even divide it by categories depending on each source (your wages, your partner’s wages, child support, rental property, etc). It is very important to have a clear idea of the sum of money that comes in every month.
Once you know for sure how much your household earns monthly, it is the turn of your expenses. You will not only have to take note of your general monthly expenditures, but also of every single extra spending you make. It will be difficult at first and you will probably forget to write down many of the things you have recently bought, but be perseverant. The only way to truly know how much you spend every month is by keeping an accurate record.
This periodical exercise will be helpful when detecting expenditures that could have been avoided. It will assist you in identifying possible saving opportunities. In so doing, you will be saving more and more each month without much effort.
Budgeting Tips
Now that you have become a budget expert, there are some things that you should not forget.
1) Have fun! Even though financial plans are meant for expense control, it does not mean that the moment you start applying these techniques, you should stop dinning out or buying presents, for instance. Do not forget to put aside some cash each month for your own little things, otherwise living on a budget will become a heavy burden and that is not the idea whatsoever.
2) By applying these simple procedures, you are ensuring a monthly saving which, by the end of the year, can become a family trip or lots of Christmas presents. Try to focus on the positive side of financial planning.
3) Keep your budget updated. This will ensure that you are actually looking at the whole picture and that it is as precise as possible. Errors can develop into less money to save and less money you will have in case of an emergency.
That was it, I hope you found it useful. May you have a happy budget!
By: Lara Sawyer
About the Author:
Financial plans not only are the perfect aid when it comes to setting aside money but also become crucial when expenditures need to be controlled and monitored. Continue reading to find many ideas to help you to set up a budget and feel good about it!
Budgeting For Dummies
Once you get the hang of it, budgeting will become easier and easier every month until it grows to be a part of you. The first thing you need to do, is decide whether you want to make an electronic budget (computer or palm) or a hand-made one (pen and paper). Electronic ones might be easier to keep up to date, but I recommend you to work only with what makes you feel comfortable as you will be using it every month.
Now that you have chosen your budgeting method, you will have to make a list of all of your sources of income. You can even divide it by categories depending on each source (your wages, your partner’s wages, child support, rental property, etc). It is very important to have a clear idea of the sum of money that comes in every month.
Once you know for sure how much your household earns monthly, it is the turn of your expenses. You will not only have to take note of your general monthly expenditures, but also of every single extra spending you make. It will be difficult at first and you will probably forget to write down many of the things you have recently bought, but be perseverant. The only way to truly know how much you spend every month is by keeping an accurate record.
This periodical exercise will be helpful when detecting expenditures that could have been avoided. It will assist you in identifying possible saving opportunities. In so doing, you will be saving more and more each month without much effort.
Budgeting Tips
Now that you have become a budget expert, there are some things that you should not forget.
1) Have fun! Even though financial plans are meant for expense control, it does not mean that the moment you start applying these techniques, you should stop dinning out or buying presents, for instance. Do not forget to put aside some cash each month for your own little things, otherwise living on a budget will become a heavy burden and that is not the idea whatsoever.
2) By applying these simple procedures, you are ensuring a monthly saving which, by the end of the year, can become a family trip or lots of Christmas presents. Try to focus on the positive side of financial planning.
3) Keep your budget updated. This will ensure that you are actually looking at the whole picture and that it is as precise as possible. Errors can develop into less money to save and less money you will have in case of an emergency.
That was it, I hope you found it useful. May you have a happy budget!
By: Lara Sawyer
About the Author:
Lara Sawyer is a professional loan advisor used to solving bad credit problems and helping people secure home loans, carloans, personal loans, unsecured credit cards, home equity loans, refinance mortgage loans and plenty of other financialproducts. Whether you want to learn more about Bad Credit Cash Loan and Poor Credit Student Loans or find information about other loan types, just visit: http://www.fastguaranteedloans.com/
Mark Joseph