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credit card debts
negative cash flow
positive cash flow
budget money
financial disaster
inner peace
personal matter
personal finance
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Personal Finance Budget
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World financial problems, job loss, unemployment ,credit card debts, the crisis in Japan , the unrest Middle East and the cost of fuel have all combined to force everyone to take stock off their personal finance budget.

Life is a personal matter and each makes choices with their money, but one should be wise enough to manage carefully the money that they earn. There are simple ways that can be utilized to assist any person to budget and diminish their money stress and risky transactions. This would need discipline as one does in dieting as to remain healthy financially. A well planned budget reduces stress and gives inner peace.

Without a budget, money disappears and debt commitment remains. If one could follow this four step financial plan, then financial independence is certain. One should create (a) personal finance budget- a real need (b) get rid of serious debt (c) set future goals and (d) set up and service your long term goals.

One should know how much money enters the home weekly, and the amount that leaves as expenses.. Make sure that there is always a positive cash flow. If more money comes in than what goes out, then this is positive cash flow, but the opposite is a negative cash flow. This has potential for financial disaster. Make sure that there is a always positive cash flow.

A financial worksheet is absolutely necessary for listing the categories of income and expenses in a personal finance budget. One can also use a softwear which would show everything at a glance. It must show the total income and the expenses which would include mortgage, rent, credit card, taxes, tithe, utility bills, repairs, food, clothing, vacation, gym, laundry, medical insurance, car loans, and books.. Money must be set aside for savings, retirement fund, child support, charity, birthday and anniversary gifts. Most times the expenses will be similar on a monthly basis. Nothing is more important than to keep abreast of the monthly ex penses and be sure that they are settled.

If one is unable to meet these commitments because of negative cash flow there are ways to settle personal finance budget. One can seek financial counselling , or seek mortgage and loan reduction payment.One can also check their life style and make adjustments and see what can be deleted from their expenses Don't get trapped and enticed into having too many credit cards and running up credit card balances. Don't purchase things beyond what you can pay off or it may cause major embarassment. Nothing is wrong with having sensible debt such as student loans, medical bills, mortgages and necessary car loans, but be certain that you can service them.

There are other simple long term strategies that are needed to have a balanced personal finance budget such as saving goals, astute investment in business, putting aside substantial amounts for retirement and the possibility of further education. With the absence of a budget, money evaporates and there is a risk of hardship and bankruptcy.

If one services their long term goals and spend within their means they are on their way to financial safety. Things like winning on Wall Street and Lotto are only luck, but the plans mentioned above are real skills which can be practiced and mastered and would ensure a good financial future.


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