How To Budget

Having my own tax practice,  a lot of people asked me how to budget.In the current economy it's not always an easy task,  especially for salary earners. Salary earners have a capped amount (their monthly salary) that will be paid to them on a monthly basis,  no matter how hard they work.

With huge increases of the cost of essential items (like fuel,  food, electricity etc),  people to struggle to keep the income more than their expenses. Here are a few tips,  and programs, that might assist you on a monthly basis.

-  First of all you need to draw up a monthly budget,  to be realistic about your income and expenses.

 - Keep a monthly diary of all expenses

- Do not buy on impulse.  You will afterwards probably find that you did not really need the luxury item.

- Save, and budget,  for a luxury item to pay it cash. 

-  Try to keep you credit lending as low as possible.  I know it is easier said than done.

-  Do not do grocery shopping when you hungry,  one tend to buy more items when you are.

- Take leftovers or other healthier option to work for lunch,  rather than to drive to the nearest take away cafe. 

-  Try to build in a savings plan,  and allocate the funds in the beginning of the month.