Every successful business manages its money with a budget -- from
the smallest one-man shop to the multimillion-dollar corporations. And like
every business, shouldn’t your money be managed to produce a profit?
Using this guide you can reengineer your life and begin to produce a profit!
You can begin to gain control of your moneys only by developing the
habit of tracking your expenses. If you can develop the habit of tracking your
expenses using the Daily Journal as shown below, you will succeed!
Managing money wisely requires a little effort, but it’s not painful if good
habits are developed. The Daily Journal is the foundation to successful
budgeting. The journal ensures you know exactly what is purchased, when,
and the price. Only after spending habits are known and recorded can the
next step, the budget, be planned & filled out with accuracy. You will need
to complete a month or two of Journal entries before you can get a picture of
your actual overall expenses and begin to see what expenses can be
eliminated or reduced. Only then will you will be able to set a realistic goal of
what can be saved each month.
The purpose of your monthly budget (shown below) is to promote self--
reliance and save for future uncertainties--which are always as certain as
tomorrow. The budget will allow you to see your complete financial picture--
income, expenses and savings. Copy these forms for your personal use.
Here’s your number one goal: commit to not pay interest or at least
reduce credit/interest purchases for all items that depreciate in value once