Formula To Be Financial Free Part 2 : Budget

November 15, 2005 · Filed Under Achieve Financial Freedom 
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I have posted a post called Formula To Be Financial Free yesterday and this is the part 2 of the series called Budget.

Achieve Financial Freedom = Budget + Control Your Debt + Invest

I now will turn my attention to each of the three elements of achieve financial freedom in turn and give some practical tips to improve each from my experience.

Budget, as you know, is a way to control your money in system. The main reason we go for budget is let us know our financial status and where we spend our money. I saw a lot of people always want to solve their financial problems but they don’t know how. They become blur and helpless because they don’t know the whole picture of their money. I don’t think a doctor who don’t know your case can help you, do they?

What? Budget is a nightmare? Yes it is in starting but it definitely will be your sweet at the end. It just like you goes to gym. Starting you will feel tired and lazy but when you get used of it, it will be a part of your life and no comment will come from your mind then.

3 parts that important to construct a budget

  • Tracking Expenses,
  • Set Goals , and
  • Plan on the Income
  • Here is the 3 Easy steps for budgeting

  • Track Your Expenses at least for 1 month (you can to more months so that you will have a more precious results). Then you will know the way you spend your money.
  • Know the condition and now set a goal. Goal that you want to hit after you carry your budget plan. For example: After budget I must have at least $100 every month to invest.
  • Now is time to plan on your income. Write down a new plan on how you going to spend your income. Please remember - everything that success do need a plan!
  • If you miss the first part, you can click here to read it.


    Some Related Posts

  • Formula To Be Financial Free Part 3 : Controlling your Debt
  • Formula To Be Financial Free Part 4 : Investing
  • Formula To Be Financial Freedom



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    Comments

    One Response to “Formula To Be Financial Free Part 2 : Budget”

    1. Journey To Financial Freedom » Blog Archive » Formula To Be Financial Free Part 4 : Investing on January 17th, 2006 11:25 pm

      […] I have posted a post called Formula To Be Financial Free and Formula To Be Financial Free Part 2 : Budget , Formula To Be Financial Free Part 3 : Controlling your Debt and this is the part 4 of the series called Investing. […]

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