Personal finance website with a goal of providing free budget worksheets, free money management advice, debt management, and saving advice for your household.
The most important step in getting your personal finances in control is creating a budget and sticking to it. This site will provide you with articles and information about anything related to finances with some personal stories from myself.
A personal family budget is basically a financial plan of how you will allocate your income each month toward debt, savings, entertainment and other expenses. These allocations are usually tracked with pen and paper, some type of spreadsheet, or some kind of budgeting software.
The purpose of a budget is to keep you accountable for the money that you make each month and show you how you are spending your money. You should spend every penny of your income each month on paper or on the computer before you ever get the money. Knowing how you will spend your money in advance will help you make better decisions about your personal finances.
Budgets can be as simple as a one page layout with all your income and expenses listed and a space reserved to track your spendings. Budgets can however be very complex and detailed with graphs and charts representing different categories or detailed worksheets to fill out each day.
A popular budgeting technique adopted by many people currently is the envelope system. It’s the process of breaking down your budget into several categories all of which have their own special envelope. Each envelope contains a specified amount of cash for that time period. Once that envelope is empty you have no more money in that category for the month. Popular envelope categories include: entertainment, personal spending money, transportation, groceries and food, miscellaneous, etc.
Once you have mastered the art of budgeting your personal finances will be start to see a positive flow. Please feel free to use any of the free budget worksheets, or other financial tools you can find on our site to help you in your journey.