Have you balanced your personal budget lately?

 

Are your finances balanced?

Government and companies around the world are struggling to balance their budgets in the current economy. This emphasises the importance of this exercise and the fact that the days of spending blindly are now over. With the threat of a worldwide recession now a reality, high levels of surplus funds have disappeared and we find ourselves struggling to pay daily expenses.

Let us take a cue from the Governments and businesses and make an effort to balance our own personal budget. It is a fairly simple exercise and LCMoneyplan.com has the perfect tool [Xpense Tracker] to assist you.

 

Remember these important tips to help you budget

a) List all monthly expenses
b) Record your regular wages / income

 

c) Be careful with recording income that is not guaranteed such as proposed dividends, return on investments and child support as non- receipt of expected income can distort the final position of your budget.

What’s the point of balancing your budget?

The aim should be to have extra money (surplus) once your budget is balanced, as this will demonstrate that you have the ability to meet your expenses. Anyone that deals with money, (and that relates to everyone) should be creating a budget. It is simply an expense plan that can prevent serious financial failure.

Make time to balance your budget as soon as possible. You will be happy that you did. Remember to track your expenses and most importantly, stick to your budget!

To get access to tools to help to manage your finances contact Ralph Lewis

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