How do I set-up a personal budget?

Question

I have several credit cards, rent, a loan payment, etc. - it seems that I am always short at the end of the month when most of my payments are due. How do I set-up a weekly budget that will stop this problem and allow for other expenses such as food and gas?

Answer 1

I have read Crown Financial (above poster: www.crown.org) but I use Dave Ramsey's budget. His is to the dollar which helps me. His budget forms are on his website and he explains how to use them. (http://www.daveramsey.com/fpu/home/?FuseAction=dspContent&intContentID=135 you will want the Monthly Cash Flow Planning Forms).

Either site Crown or Ramsey will send you in the right direction. Both have the same philosophy, get out of debt, use cash and have financial peace!

Answer 2

try this it works; have been using this plan for over a year; it's called the '50/30/20' plan, from a book "All Your Worth"...take 50% for all the necessities, 30% so spend as you please, and 20% to save/invest....you can 'tweak' these figures, of course, but it's a good place to start...you may want to make the fun money 10%, or eliminate it for a while until you get caught up with bills..you should pay off the credit card with the highest interest rate(s) first...until you get caught up a little, you may find you have very little 'fun money', but eventually you will.......please give this some thought...email me if you have any questions, etc.....Good Luck!

Answer 3

Get the Crown Financial workbook. I use the budget sheets in there. It is THE best budget I've ever used. Shows you how to track even the coins you spend in vending machines.

Answer 4

Set up a standing order so it transfers the money you need to a separate account. In the UK we have a high interest account called an ISA, I use that.