Budgeting Money and Debt: Inflow vs. Outflow

A key concept in managing your finances is inflow vs. outflow. Essentially inflow is all the money you receive or generate while outflow is all the money you spend. There is nothing subjective about these terms. Each should have a concrete and tangible number attached to it and you should know what that number is on a monthly … Continue reading Budgeting Money and Debt: Inflow vs. Outflow

Categories Budgeting, Debt & Credit
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Have Yourself a Budget Holiday

Holiday and Christmas time is an expensive time for most families. From buying gifts, stocking stuffers, decorations, and food most families budgets are stretched very tight during the holidays. How do you ensure that your family has a holiday and Christmas that they will remember without you paying for it for the entire next year? The first … Continue reading Have Yourself a Budget Holiday

Categories Budgeting, Saving Money
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Balancing Income and Expenses

It is necessary to learn the skill of balancing income and expenses no matter what your financial situation. Many people put off keeping a budget until they are financially “on their feet”. However, in order to get financially “on your feet” a budget is a necessity. And to be sure, what we call a budget is nothing more … Continue reading Balancing Income and Expenses

Categories Budgeting, Financial Planning
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Discipline: A Necessary Skill for Financial Success

Discipline is a necessary skill for proper financial management. Without it you will never acquire or accumulate anything. Without it you will never accomplish anything. Discipline is being able to say no when you need to and to be able to put money away instead of spending it. It is being able to do the things you don’t want … Continue reading Discipline: A Necessary Skill for Financial Success

Categories Budgeting, Financial Planning, Saving Money
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Three Reasons Why Budgets Fail and How to Overcome Them

Does the word “budget” make you groan? If you’re like most people, you’ve probably created budget after budget only to see them fail time after time? Why do budgets fail to work? How can you build “success strategies” into your budget process? Here’s a snapshot look at four reasons budgets fail and what you can … Continue reading Three Reasons Why Budgets Fail and How to Overcome Them

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