All Entries in the "Budgeting" Category

When a marriage ends, people involved in it are unlikely to feel like investing time for dealing with their finances. However, in such situations thinking about finances is probably the most essential task one can have. Below, we have presented a few essential facts about budgeting after divorce: Calculate how much your income will be after the divorce. While doing so, you must include the amount coming from all income sources, for instance earnings from interests, you wages, income you are expecting in form of child support or alimony etc. The next step would be calculating the monthly expenses. First calculate the regular expenditures like expenses for rent or mortgage, transportations (for people owning a car this include expenses for car insurance premiums, car payments and gas),  [...]

Every organization has certain training requirements, which can range from simple orientation classes for the new employees to training sessions organized for ERP applications of the company. Whatever might be the reason of organizing training sessions, you will need to spend certain amount of money. This article will offer you some tips for creating a perfect training budget. First assess the requirements of the training session. Based on how complex the setup of the organization is, the employer might need forming a team for conducting the assessment. You can ask the heads of different departments to offer their inputs. Next, you will have to determine whether the year ahead will host any big event. Examples of some of the big corporate events include product launches, ERP rollout,  [...]

Maybe I’ve finally become an old man. Maybe I’m finally out of touch with what’s hip and cool ("yo, sup dawg?"). There's just this whole new class of Joneses to keep up with, and I'm not sure wasting money and keeping up with them is a good idea. In my time, the Joneses were a simpler, nicer folk and it didn’t take as much to keep up with them. Now they’re just money-grabbing, materialistic fiends. I don’t like them anymore. Recently, browsing through a tech site, I saw a 103” Plasma TV from a reputed international brand. Really? Who needs a TV that size? I think 50” is overkill as it is. A projection TV is another thing entirely, I have one of those setup in the basement, but why a 103” Plasma? Does no one else think it’s just another way of wasting money? $71,000 worth  [...]

We work with the sweats of our brow to fill our pockets for a month. But to much of out wonder, we find our salary falling short to afford all the expenses of a month. We either wait for the next hike in salary or look around for a job with higher compensation. But history repeats itself and once again we find the last few days of a month tough to carry out. This is a story that is seen in almost every house. But what exactly is the reason for this situation. Why does one become hard up for money even after getting a salary hike? The reason is simple yet tough to realize; amount of expenditure. Now you can very well come up with a logic, “We earn to pay for our monthly bills”. Yes this is true and I do comply with his fact that we work to earn our loving and living involves expenditure  [...]

Perhaps you, like many more people (including me at times, admittedly) find old-school budgeting measures just too...boring, for want of a better word. There are just so many numbers to crunch and everywhere you turn, you will see some sort of clampdown or the other in place and these sort of things do end up cheesing very many people of. But all I ask of you, is this; don't hate the objective, hate the system and rework it to your benefit. After all, a budgeting plan has to work for you, not the other way around. You were never meant to be money's slave. Alright, so budgeting is never meant to be fun or a fantastic Saturday evening out with friends, but it doesn't have to feel like you're locked away in a dungeon for all eternity with a couple of numbers for all eternity. Here then, just  [...]

Back when I was a kid, I think I was ten years old when I first started to get an allowance. At the time, I thought it was a wonderful thing, but in hindsight, I now realize that it was vital to my development that I got a certain amount of money by way of an allowance. It taught me concepts in personal finance that would otherwise have been alien to me and I got a very early introduction to budgeting. It is why I feel an allowance is an important life lesson for kids, and here’s why you should give your kids an allowance. The merits of budgeting You can yap all day about how a dollar saved is a dollar earned, but there’s no better way for a kid to learn than through first-hand experience. This is why you should let a kid touch that fire-hot stove. Let them burn their hands (figuratively,  [...]

There’s a reason that some people choose to put off budgeting, and the number one reason among all procrastinators is the fact that it “takes ages to draw one up” (or so I’m told). The popular misconception is that the entire process is painstakingly time-consuming and in today’s day and time where everyone is busier than a continent full of bees, very few really take the trouble of drawing up a budget. But I prefer to look at this differently; if your budget is working for you, you don’t need to constantly revisit it and look at it again and again. Taking time out of your schedule (and this could be as little as 20 minutes) could reduce your bills dramatically. Once you sit down to actually make your budget, you shouldn’t really take ages to set up a budget that will then  [...]