10 ways to improve budget

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Post on 18-Aug-2015

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  1. 1. Decide on your priorities. Most peoples budgetsrevolve around three costs:food, housing, andtransportation. After youbudget for those expenses,which probably account forbetween half to two-thirds ofyour take-home pay, andfactor in any debt payments,decide how to prioritizesavings, householdexpenses, professionalexpenses, andentertainment
  2. 2. Harness the power of a Web tool On Mint.com,you can uploadyour account informationand get immediate insightinto where your money isgoing. You can then use thatinformation to start savingmore money, just in time forback-to-school season.Other online options includeWesabe.com, Pennyminder,and You Need a Budget.
  3. 3. Time yourself Once you decide you need to buy aspecific itema new computer, forexample, or a backpackgiveyourself a specific time limit to makethe purchase, such as a half-hour.You dont want to lose precioustime sifting through options whenyour instinctive reaction will probablyend up being the best decision,says AnnaMaria Turano, co-authorof Stopwatch Marketing: TakeCharge of the Time When YourCustomer Decides to Buy.
  4. 4. Consider the year, not just the month Budgeting for the year is betterlargely because we feel lessconfident in our monthlyestimates, so add more of abuffer for unexpectedexpenses, according toresearch by University ofSouthern Californias GuldenUlkumen, Cornells ManojThomas, and New YorkUniversitys Vicki Morwitz
  5. 5. Set money aside for leisure Research shows that peopleget the most pleasure out ofspending on leisure activities,such as vacations, movietheater tickets, and hobbies,partly because these thingsusually involve spending timewith other people. Dont forgetto reserve some cash for suchhappiness-inducing pleasures.
  6. 6. Set money aside for leisure Research shows that peopleget the most pleasure out ofspending on leisure activities,such as vacations, movietheater tickets, and hobbies,partly because these thingsusually involve spending timewith other people. Dont forgetto reserve some cash for suchhappiness-inducing pleasures.