Budgeting is a necessity these days. It is becoming more apparent every day. Seventy percent of America is coming up short on bills, rent, and food at the end of the month. The economy has suffered a huge hit. Everyone knows this. This recession has not rebounded like economist have stated. America still has an unemployment rate that is entirely too high. There is a lot of talent that is still out of work. All of this has put America in a huge crunch.
I say this because if you do not know exactly how much money you have, and how much debt you have, then there is no starting point. We are going to change that. You have got to get organized. Put all of your bills on the table. This may need to be done every day when you are just starting out. Go through your mail everyday. Know what your bills are immediately. Remember “You are in charge of your future right now.” If you create and manage a budget, slowly but surely you will get back on top of things. You have already taken the first step by researching and gathering knowledge.
Realizing Actual Money
It is very important that you count every single penny you have. Count everything, cash, change, credit, and assets. Know what you have coming in every week. All reliable income. At this point you have taken control of your financial life. Once you get all of this together, it may not seem like a lot at first. That’s okay. You have at least taken the first step. Do not count income that you are hoping to come in. Often investments or loans do not come through. Just count on what you have and what you have coming in a residual income that is reliable.
Realizing Actual Debt
This is not going to be all that fun. This includes all bills. Rent, electric, water, insurance and so on. It adds up very quickly. Now you will want to communicate with all collectors. I would start with landlords and major bill companies such as electric, and water. Many times landlords will work with you and put you on a weekly payment plan. This will help. You must take into account gas as that has become a life decision at the pump these days. Most people spend one hundred dollars a week on gas. Unfortunately it is only going to go up. It means taking on more responsibility to make more money usually, so by taking control of your finances you will know what it takes to manage other people and it is always fun to learn along the way and be open to all suggestions.
Below is a budget guide that will help you get started. It is only a guideline. You will need to keep up with how much money comes in every week. This is the only way to get back on top of the economic downturn.
This economic downturn has shaken the nation to its foundation. And while the nation seems to be gaining speed again, these next five years are going to be tough on everyone. All we can do is set, and then live by our budget.
For many situations there are federal grants and loans. All it takes is a quick Google search and you can find many government funded opportunities. There is a lot of money out there for mothers and women in general. There is a place to get started. They will walk you through every step of applying for each individual program.
There are food ministries and services at many local churches and organizations. They are very easy to locate. You can also go to any Chamber of Commerce or Salvation Army and they will generally have this information. Join a savings club. These are generally programs at any grocery store. They offer a value card. The money saved on groceries really adds up. That is money that can go back in the budget for other needs. Use coupons. It may seem like a lot of work to cut them out and keep up with them, but this is where organization will come back into play. If you have the coupons separated and ready to use when you check out they really can come in handy when you combine coupons with a value savings card. It is worth the time and effort. Organization is the key to staying on top of everything. Keep in mind this will take time and determination, but always with a lot of work comes a lot of reward.
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