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Article: Right Ways of Budgeting (Part 2)This forum post has messages dated from 08/15/11 through 10/11/11, please be sure to read all the messages. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it. - Common Sense
| Article: Right Ways of Budgeting (Part 2) Keep your budget flexible Leave space for occasional yet common expenses Make sure not to overlook your annual or regular expenditures that you will not fail to incur during the year. These are the expenses that will not come to your doorsteps like gift boxes filled with surprises. Such items include payments for car and housing loans, life and nonlife insurance plans, and various taxes. Be mindful with these outlays since some of them do not send out regular billings. If you happen to forget them, be prepared to pay large sums that only cover for interests, fines and surcharges when they start knocking on your door.Read the complete article here: |
| I do agree that it is rather common sense not to make your budget air tight as no budget will ever be foolproof. Better to overestimate and underspend, thus having some money left for savings or emergencies, then to understate your expenses and be left wanting at the end of the month. It can also help you stick to your budget if you have a small expense account for "extras". |
| People would sure to agree with me with regards to how hard it is actually to budget money. I have three kids and my husband works outside the country for a much better financial opportunity. And it is hard really, to save and allocate money to all of the needs inside the house. And with good tips and your very reliable common sense, I think allocating your budget would be a lot easier. |
| being frugal was never wrong. looking for things to buy at a lower price has never been against any law. this is something to be proud of. to appreciate the acquisition of money by buying only the things you need and not the things you will buy on impulse. this supposed to be the basic facts of life but it is not apparent nowadays because of fads and trends that set standards. |
| When I started my own family, I really found hard to deal with the budgeting. But in the long run, I am able to manage it and even save up for emergency purposes or unexpected occasions. I am kind of frugal so when I make the list of my expenses I make sure that everything is equal to my income. I don't spend much for luxury only if I am the wealthiest. |
| I understand how hard it is to make budget for a family. I am just grateful that my mother was actually guiding me to do it until I master to make the right budget for food, monthly expenses, necessities, and so on. By reading the post, I was also enlightened to know the different ways of budgeting. Rest assured that I will employ those tips you guys have shared. Thanks. |
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