Budgeting for you

Budgeting????????.........Oh my god, i plan to do it every month but nothing actually ever happens. Is it the same story with you as well. I guess its everyones story. No matter how boring you think the task is is but it really is useful, it helps you to control and enjoy money, it protects you from financial problems in the future and of course last but not the least it helps you save money.

If you want to start saving here are a few tips...

1. Set targets : If you plan to buying something costly like a camera now and think of paying by a credit card(a sin i did very recently), it upsets your budget for the next few months but if you had budgeted and started putting aside some money for that expense and held on to your will power, you would have saved a lot of money(Interest on the card) and a lot of heart burn. So plan ahead and budget accordingly.

2. Don't make it a rocket science : The one reason we avoid it is because when ever we try doing budgeting we go into detail of every last paisa. Don't do that. Just try to cover the main expenses, some rupees spend on minor indulgences shouldnt count and shouldnt matter that much. So dont make it matter.... indulge your self.

3. Surprise yourself : There's no need in making budgets on your study table, get out there on a picnic and get your family together and then do the process, it can be more fun then and you might actually do it instead of thinking of it every month.

4. Value everything : You want to buy something, value it, think how much you really need it? do you really need it? And can you wait to buy it? Talk to your spouse about something they need and how much they really need it and maybe they will understand the need to wait for the right moment to wait for it. This way you can plan well and also give you a peace of mind.

5. Do something extra : Sometimes there is a real cash crunch and you actually start to think of using your credit card. Dont do that like i did. Just try to save some more money. Sometimes you can get something cheaper and maybe even reduce some expenditures you normally do. Something like maybe every weekend you go out, dont go out or try going to a cheaper place maybe some road side food, its cheaper and sometimes you can get really good food.

6. Be flexible : Just be open to flexing your budget once a while this way your family will not think you as a miser. The only reason i am saying this is, this way you do not stop budgeting but you stay within your budget and go into minor diversions and maybe next time you are more better prepared.

So go ahead and budget next month and please do let me know..........

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