How's Your Budget?

It really pays to manage your finances well because that would mean financial freedom for you and the family. But if you are on the shoestrings, chances are you put off paying the bill until the next paycheck until it's built up or worse, your utility services disconnected.

Budgeting has never been easy for most of us... But it could be fun and rewarding when you have learned how to manage it well. Making a personal budget is hard enough as it is, let alone a family budget. But this is made easier by the YNAB Software which allows you to make and manage your budget using a spreadsheet program or as a standalone Windows application in just a few minutes.

This budget software is based on the YNAB Methodology which follows this four simple rules:
1. Stop Living Paycheck to Paycheck. Learn to live a month ahead so that you are updated in paying the bills.
2. Give Every Dollar A Job. Allocating all funds for spending and/or savings will give you a greater awareness of your financial status.
3. Prepare for Rain. All of us must have available funds for those occasional big expense such as paying taxes, tire change. Allocating funds for this sole purpose each month will get you the money you need when the time comes.
4. Roll With The Punches. All of us overspend especially on groceries. To keep us on our "budgeting feet", the YNAB software makes small adjustments with that overspending so that it doesn't roll over in next month's budget. It's like you start anew each month. No deficits whatsoever.

So that's it. Following these simple rules religiously will help you start the year right with a budget of your own.

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