Let’s begin by stating one important statistic…US citizens in general not very good savers. It’s a known fact and there’s no point in trying to white wash it. For the current year of 2016, the average rate of savings in America was 5.6%. Not very impressive. We offer these tips for saving money to change that.
According to the Bureau of Economic Analysis, the high income earners save a lot more of their income than the middle income earners. The middle income earners actually save a very small percentage of their incomes, practically nothing. Why is that? We all are aware that we need to be saving more, and yet we don’t.
Learn How Our Budgeting Tips Can Assist You in Creating a Budget That Works
Yes, we know that budgeting has a bad reputation with many individuals. However, our 5 budgeting tips should make it a bit easier for you in creating a budget. So many individuals have a pre-conceived idea that a budget means calculating hundreds of difficult sums and spending many hours each week tracking every single cent they spend. They think it means being forced to stay at home and never having any fun.
The truth is nothing like this at all. Below are 5 budgeting tips that will prove this idea is wrong.
Reading blogs about budgeting can help singles and families to find more creative ways to stick to a personal budget. The current economy has been an unstable one for a few years in a row and this leads to more and more individuals and households taking extra measures to learn how to budget your money and do their best to stick to them.
Many individuals live paycheck to paycheck and some are not always certain if they will have a job next month or next year.
As more businesses continue to close and the unemployment rate continually goes through a roller-coaster ride, sticking to a personal budget makes more sense now than ever for many individuals. View full post…
Posted: September 17, 2016 Under: Budgeting By: Gust Lenglet
Here’s an eye opening statistic for you – Prior to the creation of the Social Security System in the 1930’s, approximately 75% of senior citizens in America were living in poverty. This figure has been dramatically reduced today to just below 10%, thanks to employee pensions, Social Security and also retirement savings accounts.
But still, here in America today, many senior citizens with income levels just above the poverty level continue to have financial struggles well into their retirement.
Just as alarming are the results of a study that was done by Brandeis University. This revealed that 75% of senior citizen households in America are in a precarious position economically.
Learning how to budget your money, for many, seems like a very difficult task. Many have a tendency to rationalize that they don’t have enough income to be concerned about creating a budget. They also think that their money ends up paying bills with a few dollars left for miscellaneous items.
The reality, however, is that by learning how to budget your money now, you will be prepared to handle a more complex budget later on. View full post…
Posted: November 14, 2015 Under: Budgeting By: Gust Lenglet
Learn How to Create a Budget for Your Budgeting Personality
A quick search on the internet for the search term how to create a budget, will result in millions of hits. You will discover everything from individuals advising you how to budget money to others selling some software program to make the job easier.
Some of the software programs that tell you how to create a budget run the gamut from very basic to highly complex with a large variety of reports. Many of the programs are similar, but you will eventually find a few that may suit your own particular budgeting personality better. Finding one of those will definitely make the job easier for you. View full post…
Posted: October 3, 2015 Under: Budgeting By: Gust Lenglet
Finally a Solution to Making a Budget in College – 8 Easy Tips
We all know how difficult college life can be, especially if you’re attending a school away from home. For the first time, you’re on your own and responsible for managing your money. How well you manage your money now will have an impact on your life later on. Making a budget is one of the first things you need to do, even before you actually start college.
Don’t be one of those students that thinks making a budget is dumb. There are a lot of individuals who have financial problems and are deep in debt, who say that they should have learned to manage money when they were much younger.
When you start spending your own money, it’s time to learn how to make a budget that will work in your unique situation. One of the best ways to begin is by keeping track of your spending.
In order for you to make a personal budget and one that you will be able to follow, you must know where your money is going. Until you get a handle on that, you’re going to be spinning your wheels and soon will become discouraged.
Here comes that dreaded “B” word again. Yes, we mean budget. Today, we’re talking about the benefits of creating a household budget and we all know that every family should have one, don’t we? A budget, after all, is a very useful guide, and tells you if you’re on the financial path that you want to be on.
Creating a household budget not only tracks your spending, but it allows you to set up a savings plan as well. Setting up a good budget will allow you to set goals that you can achieve, and track your progress in meeting them. View full post…
Posted: August 3, 2015 Under: Budgeting By: Gust Lenglet
5 Reasons How Creating A Budget Can Make You Less Stressful
If there is one word in the English language that gets our attention, and creates fear in some individuals, it’s the word budget. Many think that creating a budget will bring to an end the days of having vacations or perhaps buying a nice car. This simply is not true. You’ll learn how to make a monthly budget and put every dollar to work.
They just don’t realize that if you create a household or a personal budget, you’re going to have better control of your spending. By using a budget properly, you’ll be able to see where your hard earned money goes, and eventually there will be a vast improvement in your financial picture.
There are a number of reasons why creating a budget can help you not only save money but get control of it.
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