How does one learn to budget themselves?

You can try noting down your expenses on a sheet of paper... eg., while starting your day you can note down how much money you've in your wallet, note down the balance remaining after your day ends. In case you are spending using your Credit card, keep the receipt with you. Now, if you can manage then check out at the end of the day what all expenses you did and for what purpose. This way at the end of the month you'll be having a summary of all ur expenses throughout the month and you can thus examine which expenses you could have done without. In this way you can start making a budget for yourself and you should be able to spend wisely! All The Best! :)

Hey there. I consider myself really good with money! :) I have 3 savings accounts online and 2 of them are earning more than 5% interest and the other is earning almost 5% interest! :) I would love to help you further. First, find out which credit cards are charging the highest interst rates... Pay those off first! Or at least transfer the balances to your lowest interest credit card! Figure out what you are buying on your credit cards. Is there a way to curb those or at least cut them down or even off?? Try paying cash for everything. Really focus on paying off those credit cards! :) I wish you the best of luck!

The same situaltion here,but a little different in a sense that half of the month i have plenty of money and the second half i am somewhat tight,coz i spend money without any prior plans...but thnk God i never had sufer a great deal so faaaarr!

i always think hundred of times before buying something. i walk instead of using public transpostation (especially if the distance is average and im not realy in a hurry), i don't eat at restos (if i eat, ill make sure its a once a week thing), i buy multi purpose items (shoes bags and clothes), and i only buy "luxury" things if i have spare cash. i don't have a credit card, it's wise to not have one.

My friend taught me a trick to do with your credit card...you sew the card into the lining of a bag or your wallet, something you carry with you all the time, and then you're forced to think more about spending the money, whether it's on the internet or in a shop...and you'll end up only buying things you really need!

Good topic, especially for this time of year.We spend a lot of time coaching people in wealth-building. The first secret in accumulating money is a budget, but you must obviously be disciplined, and the first thing is out the door with credit Cards. In this country there is no reason to buy necessity on credit. Of course the definition of necessity is paramount. I work with College students from the next town and after careful analysis of what is needed, not what is wanted, they are able to survive very well,and of course continue to put minimum 10% away in the their Future Financial Account. One should never spend more than 50% ofcurrent Income on necessities. Interest is the DUMMY Tax. If one needs more money, it is so easy to obtain through effort. I carried never less than 20 solid units, paid for my college education with cash, had fun, and graduated with a business and money in my pocket. Only because I listened to those who knew how. I invested in myself first and everything else second. It is soooooooo easy with the proper mindset. Read Think & Grow Rich. As timely today as when published 70 years ago. Get a free copy. E-mail me or call 530-798-0245

you yourself have identified your weakness --- you spend too much on credit cards and do not pay them off when they become due. this is a huge mistake, my friend. credit card companies will charge you much for your unpaid balance. here are some friendly tips: 1) before you buy things, ask yourself, "do i really need to buy this?" if you can live without it, put it off for a while. 2) do forced savings --- put away a certain amount, say 10% of your earnings, before you start deducting your expenses. this will force you to save. 3) using credit cards is not at all bad --- but you must learn how to use them wisely. this means paying your dues on time, not a day late. using credit cards earn you rewards points that you may redeem later, so don't put them to waste by paying for additional charges you don't deserve. good luck and happy new year!

Hi I used to always be in debt. Until I read 2 books. one "The Richest Man In Babylon" and the other was "The Storehouse Principle" both similar in content but life changing. Since then I have $5000 in the bank. I also have a co signer ( a deacon in my church) who signs on the savings acount so I don't just spend it on nothing

You already know how to budget. You pay your rent or house payment, your utilities, car payment, insurance etc...what you need to learn is to control impulse spending. After you have paid your monthyly living expenses what you have left can be considered disposable income. This is when the budget for so many no longer exists. Make lists and stick to them when shopping. Have a criteria, want it? Yep. What will it be used for? Don't know? Where will it be worn? No clue. Need it? Nope, yes, maybe. If the answer comes up maybe, don't buy it. Treat your credit cards like cash. Yep like cash. After all you are spending cash plus paying extra in interest fees. Make a new budget list. Your living expenses, a percentage for savings, and a percentage for disposable income, and lastly ready cash reserves. Settle on shopping days, don't just run to the store for something to do. It may take some will power but it can be done...impulse buying on credit will destroy that credit fast.

You have to pay off the credit card bills as soon as possible or you have to end up paying more and more for interest. Carry as little cash in your wallet as possible such that it's only enough to pay for the essentials for each day. Keep your credit card in a safe box or with someone you can trust or simply cancel it. I prefer to use cash so that I can see easily if I've over-spent. Do away with ATM card and instead visit the bank office to withdraw a one-time allowance from part of your salary each month. Give yourself this inconvenience so that you can control your cash withdrawal.You'll find that you won't overspend and can actually save some for rainy days.

How many credit cards do you have? That's the first thing you should think about. The more plastic you have, the worse your problems can be. The temptation to use them is quite strong when they're in your posession. Credit cards are an addiction: the more you have, the more you use them. Do yourself a big favour: Pay off your credit card bills, and cancel all cards except for one. That one you put away, and only use it for emergencies. My fiance and I are doing the same thing. We've cancelled 2 credit cards and have one card to pay off. Once that's done, we can focus on the sole card that we have. It's so easy to climb into debt, but harder to dig your way out of it. Spend wisely in the future. Also, as someone else suggested, write down how much you earn and what your expenses are. That's what we do. This is your budget for the month. If you stick to your budget for the month, treat yourself to one special item. This will be your reward for sticking to your budget and proving to yourself that it is possible to do this. In time you will see the difference.

I know some people who make substantial incomes and still have no money. They don't have an earning problem, they have a spending problem. Write down what you earn. Write down what you spend. Cut back on what isn't necessary. it's amazing how much money goes into drink machines, snack machines, etc... it's a little at a time, but it adds up. try to find little ways each week to cut back on your spending. Then with all the money you've saved, treat your self to something every so often.

in your case, you should pay your bills on time. and i suggest that you lay down with using your credit card. it is easier for us to spend more if you have a credit card at hand. i suggest that you try prioritize what you need. try to spend on things that are important and more practical.

To start with your budget you need to settle all your credit cards or else it will pile up and you'll find yourself working to pay for the interest of your debts. After settling it, then you can start savings and budgeting your finances List down all your expenses and review it, you will find out that there are expenses you can live without. Cut it off and put aside the money for savings. It worked for me, i have a separate notebook for all my expenses. Most people use this formula: Salary-Expenses=Savings But it could work this way Savings-Salary= Expenses If possible use cash and spend with in your budget and don't spend more than you could afford.

Budgeting is a hard thing to learn, but one that can actually be quite rewarding if you really take the time to learn to do it. There are a lot of people like maybe your Bank, etc. that specialize in helping people set up a Budget and how they can stick with them, and stay within their means. Sometimes for some, it is consolidating some of the Bills you have into one, and then Cutting up the remaining Credit cards, etc. But it is up to you how far you want to go with this, but I wish you Luck.

First of all find the sources of money, than find any one or two jobs which give u more money,and they are convenience for you. Than list out your monthly needs,than set them as priority wise.Find your needs at low price and good quality,this will help you to save money.

by making future assumptions n thinking of the ones better

The basics that my mom taught me in budgeting. Make lists of things that you would like to buy, things that you need so that in the end you would'nt end up short. But the best thing she taught me was this "Do not spend more than what you can earn". You just have to deal with what you have and make the most of it and make sure you still have extras.

Don't waste any money on books. (expect for millionaire next door). First thing like everyone else on this board been saying is pay yourself first. I know if tough trying to get by with little in no return but u will never get out of your situation if u don't put money away for a rainy day.

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