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    Posted August 26, 2014 by
    Maryville, Tennessee

    Budgeting Tips


    Budgeting…..it is a dirty word. Whether trying to figure out how to pay expenses for your children, your retirement, and everything in between, everyone understands its’ importance, but only a small percentage of people actually sit down and do an in-depth breakdown of their monthly financial situation. To truly complete a full budgetary analysis many factors need to be considered. First, how much money do you have coming in after taxes each month? Second, how much do you spend monthly on gas, food, mortgage/rent, insurance, vet costs, utilities, cable/phone/internet, any debts, as well as what is budgeted for entertainment. The single most important thing for meeting a set budget when times are tough is recognizing “Need vs. Want.” Below are 5 tips for budgeting:
    1. KEEP RECEIPTS- Keeping these pesky little pieces of paper in an organized manner make it easier to get a close to exact breakdown on your monthly outflow of cash.
    2. SAVE HARD- Setting aside a certain amount each month automatically to some form of savings account helps. After all, how can you miss what you don’t see?
    3. USE CASH- It is a lot easier to spend over your budget when it is as easy as swiping a card. Consider taking out enough cash each week to cover your expenses, if you run out you aren’t following your plan!
    4. CUT UNHEALTHY LIFE CHOICES- If you smoke you should quit! Not only are you paying for those pesky little cancer sticks at the convenience store counter, you’re also paying for them at the hospital counter. Same goes for you fast food addicts (myself included).
    5. ALWAYS MAKE ROOM FOR ENTERTAINMENT- We need this to keep from going crazy! Even if your budget doesn’t leave a large excess of spare funds, figure something out, whether it’s going out for a night on the town($$$$$), or a movie night on the couch($).


    CONTRIBUTED BY: Morgan Kuhn

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