Creating and sticking to a budget is one of the key ingredients to building wealth. In order to set aside enough money each month to invest and reach your financial goals, you need to understand your cash flow - or your income and expenses.
By creating and analyzing a personal income statement you can find inefficiencies in your spending and take control of your finances.
Here are two excel spreadsheets that can be downloaded to help you set up your budget. Just plug in the appropriate numbers and the calculations will be done for you.
Click here to download these free budgeting excel spreadsheets:
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A friend told me recently about a free online personal budgeting
utility, I have used it for over two month now and it is too good
to be free. “Out Of The Dark” (OOTD) is easy to use, simple yet
powerful, an online personal budgeter that is totally anonymous so
your personal identity is never compromised, and it’s packed full
of good guidance and information from the developer and the
community of users. OOTD can be found at:
http://www.myexp.org/OOTD_gate.php Happy budgeting.