Budgeting 101 is an Introduction to the Basics. *erfect Balance Bookkeeping "Making Your Time... Profitable. http://loviesims.com Simple fundamentals for finacial balance.

1. BUDGETING 101 INTRODUCTION TO THE BASIC

2. Keep the Control to yourself If you are spending money without having a set budget, money will start controlling you. On the other hand, if you have a budget, you will be controlling your money. A budget will help you know exactly how much money you have and how much you are spending. Since most of us use plastic money to pay for expenses we seldumlyknow how much money is leaving your pockets until it’s gone.

3. The Importance Of Budgeting. Balancing income and expenses Budgeting is the art of writing down your spending habits and monitoring the results.

4. PAY YOURSELF FIRST So many things come up in our day to day lives that we forget to pay ourselves. From the time we receive our money we start figuring ways to spend it. Most people don’t put themselves before their bills. Budgeting will not only help you track your money but it will also help you save your money.

5. EMERGENCIES HAPPEN Financial emergencies are often unexpected and unanticipated. You may have to pay a huge medical bill or a car repair bill, which can be a very large amount Realistic budgeting, will keep you prepared for such difficult situations. On the other hand if you don’t have a budget, such expenses will knock you for a loop financially.

6. Where do you start! The best way to start is to write down all of the income you receive. Income is any monies from any source coming to you. Then write down all your bills. Bills you pay every month. Then write down everything else you spend your money on…..eating out, videos, itunes, clothes, AtM withdrawals and fees.

7. Track your expense for a couple of month so that you will have actual numbers on what you are spending.

8. Dare to dream big Budget is the key to realizing your dreams