August 16, 2009 – 5:53 pm
Is it living within your means or living below your means? Well, living within your means entails being able to carter for all your needs without borrowing to consume. However, living below your means entails an even superior thing: to be able to consume, have some money to save and have much more to invest. [...]
August 13, 2009 – 5:52 pm
Budgeting process is not an error-free process. When I say this, I am not talking about the typing errors, or the computer errors, or mathematical errors. I am talking about the assumptions that we make and “hope” will come true. These are the very things that will make your budgeting process an absolutely useless activity. [...]
August 10, 2009 – 5:50 pm
Budgeting is one of those things that should be very simple. In fact, the whole budgeting process can be executed with nothing more than the computational skills of a fourth grader.
But is it really so in real life?
Despite its obvious importance, budgeting does not sound like a rosy affair to many people. This is because [...]
Budgeting is commonly regarded as one of the most important tools in personal finance planning. Realizing the importance of the budgeting process is necessary if your are to develop a budget worth sticking to. Without this knowledge, budgeting will simply be one of those “unnecessary processes.” Everyone will point to the fact that your lack [...]
You’ve obviously made a personal budget before – probably more times than you can remember. In fact, even a first grader makes a mental budget for the money that he has been given for spending. However, what we are talking about here is an extrapolation of the first grader’s budget. The principles are the same [...]
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