{"id":18509,"date":"2019-06-29T18:32:05","date_gmt":"2019-06-30T01:32:05","guid":{"rendered":"https:\/\/futuresharks.com\/?p=18509"},"modified":"2019-06-29T18:32:05","modified_gmt":"2019-06-30T01:32:05","slug":"look-beyond-the-basics-to-know-the-art-and-beauty-of-budgeting","status":"publish","type":"post","link":"https:\/\/futuresharks.com\/look-beyond-the-basics-to-know-the-art-and-beauty-of-budgeting\/","title":{"rendered":"Look Beyond The Basics To Know The Art And Beauty Of Budgeting"},"content":{"rendered":"\n

Most people\ndo not realize the beauty of budgeting and often end up in financial distress\nfinding it difficult to manage their household finance, debts and other financial\naspects. Well, ideally every household must have and should follow a proper\nbudget so that they can live their lives happily and enjoy the benefits if\nfinancial freedom.<\/p>\n\n\n\n

You will\nhardly find any company that do not have a monthly as well as yearly budget to\nfollow This keeps them going enabling them to make proper plans for the future\naccording to their present financial conditions. Just like all successful\nbusinesses all over the world have a budget, you too should have one in place.\nWhy? Because, it works!Typically, making money and budgeting seem to go handinhand.\n<\/p>\n\n\n\n

According\nto a Gallup poll conducted in 2013 it was found that only one in three\nAmericans have a detailed written or computerized household budget prepared. However,\nover the years people seem to have realized the beauty of budget and things\nhave started to improve to some extent. <\/p>\n\n\n\n

According\nto a Bankrate.com survey in 2015, it is found that about 36% of the population\nprepared a household budget on paper and about 26% on a computer or even on\ntheir smart phone app.<\/p>\n\n\n\n

On the\nother hand, a considerably high 18% of people said that they did not have any\nbudget at all and took things as it came keeping every information in their head!.<\/p>\n\n\n\n

If you are\none of these non-budgeters or sketchy budgeters, it is high time that you\nchange your approach towards household finance management. This is the best way\nin which you can keep a track of your income, your expenses and by sticking to\nyour personal budget you can save a lot of money as well for the exigencies. <\/p>\n\n\n\n

The terminology issue<\/strong><\/h3>\n\n\n\n

The basic\nprinciple of a budget is to keep a note of your income and expenses. However,\nif you really want to make a proper budget that is immaculate and productive,\nyou will need to look much beyond the basics. <\/p>\n\n\n\n

It is seen\nthat most of the people avert budgeting because they are not very clear about\nthe terminology. This issue that is deep rooted in language makes them believe\nthat the word “budget” has several negative connotations much like\nthe word “diet.” They think that both budget and diet are just restrictive\nreminders that tell about the things they cannot do or have. This linguistic\nnonsense kills the beauty of budgeting altogether. <\/p>\n\n\n\n

Ideally, a budget\nand a diet are both effective tools which when only used properly will lead to\nthe desired outcome. Using a diet will help you to develop a healthy body and\nusing a budget will help you to develop an economically sound and responsible\nlifestyle. <\/p>\n\n\n\n

Therefore,\nrealizing the necessity of it few people even go a step further and drop the\nword \u2018budget.\u2019 It makes them feel better about the process when they call it a\n\u2018spending plan.\u2019 Since a plan is not as restrictive a term as budget, you can\nnow view things from a different angle. Instead of considering the things you\ncannot buy, consider those you can buy. This will make you feel better knowing\nabout your purchasing power and help you to know how you can spend your\navailable money, which is the primary purpose of a budget.<\/p>\n\n\n\n

Tips to budget well<\/strong><\/h3>\n\n\n\n

You can\nconsult with an expert advisor or even take cues from the blogs and articles on\nbudgeting published in different sites such as libertylending.com<\/a> or others. You will find that the most common steps to\nfollow for budgeting are as follows:<\/p>\n\n\n\n

You must start\nwith your bills. This will let you know your income but instead of focusing on whether\nit is enough for you, focus on your monthly spending. This will let you know\nwhere your money goes. It must include fixed expenses such as the following:<\/p>\n\n\n\n