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How can a budget help you?

A budget is a written log of how your money is being spent. It allows you to see your total income and where that income is going. Budgeting may seem hard because it requires some planning and a desire or determination to follow the budget.

How to Budget

∑ Gather family members together and allow them to each express their ideas about how the money is to be spent.

∑ Set realistic goals. Allow room for change. Many events can happen in a short period of time that can change or alter your goals.

∑ Be specific in writing your goals. Make sure all family members understand the goal in a clear and concise manner.

Setting goals and prioritizing them is a very good place to begin on the budgeting process. You cannot decide how to get somewhere if you donít know where you are going. So, letís begin by deciding where we are going.

What is a "goal"?

Some of you may already understand the importance of setting goals. It is always recommended when setting a goal, that you write it down on paper. The fact that you have put the goal in writing and can look at it and examine it makes it real. In the corporate world, company goals are the ideals of what they want to accomplish during a year. Once they have determined their goals, they then must prioritize the goals to determine what is most important.

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