A Gallup Journal poll stated that less than 33% of Americans have a monthly budget that they use to control their spending. It is startling to realize that the single most important financial document for personal finance is only used by 30% of people.
So what is a budget? A budget is an itemized summary of income and expenses. It is a written plan of how you will spend your money on a month to month basis. I was once a person who never budgeted his families money and every month we would be frustrated when there was very little money and in some cases no money left for gas and food. So finally we took control and developed a monthly budget. This helped us take control of our finances. Not only did we start to pay down debts better and quicker but we also began saving more money and there were no questions at the end of the month.
I have attached the Budget I use Monthly to maintain my finances. It is an Excel Macro Enabled Workbook and you may scan it for viruses. The Macro’s are just for the Buttons you will see within the workbook. I have a non-macro enabled one too but that one isn’t as easy to use. The template can be downloaded using this link BudgetTemplate.
Budgets are simple, effective, and necessary for your financial plans to be successful. We need to change these startling statistics going forward and increase the use of budgets to every single household in America. Budgeting is the cornerstone and it is nearly impossible to be financially successful without it
Need budgeting advice? Let me know. Always willing to lend a hand to others. Thanks for following. Follow the owls!