Personal Money Management Begins with a Budget. Any Other Beginning Is Failure Waiting to Happen. Your
Budget Help Is Here.
Investing, saving, even spending should be
incorporated into every person's personal money management plan. But, in order to do any of those things
well, you absolutely must have a budget in place.
If you are a totally undisciplined person and excuse
financial irresponsibility by stating that you are a "free spirit" or "spontaneous," this site isn't for
you. I wish you the best of luck, but you'll likely die broke without leaving a penny to your children or other
causes you care about. You'll likely find yourself strapped for cash and unable to bless others through giving.
Personal money management is a crucial life skill. And it all starts with getting out of debt and getting on a
Personal Money Management: Get Out of Debt
It is absolutely
fundamental that you kick the debt habit. Debt is a form of slavery. You have to buy back
your freedom. Use the resources contained within either of the two websites I mention at the top of the
Financial Wisdom page, and get your freedom
Personal Money Management: Budgeting for
In order to eliminate debt and be successful with
personal money management, you need a budget. You have know where your money goes each month. If you can't keep up
with your expenditures and income, you will have a hard time finding
For a budget to work, you have to want it to. You have
to be diligent and comitted to it. If you are married, you and your spouse have to sit down and talk about money. I
know, ice picks under the finger nails may be more pleasant. But, it has to be
I have developed and refined a free budget program for
anyone to use. It is an electronic, semi-automated version of the "envelope system." Download it for free by
right-clicking the following link and choosing "save link as" or "save target as" and then saving it to your
computer: Free Budget Program. It is written in Microsoft Excel 1997. If you don't already
have Microsoft Office, do a google search for the opensource program Open Office, which will allow you to use the
program for free.
In order to get a handle
on where one of the biggest chunks of your money goes, you have to understand how much you lose every year to
taxes. It is more every year. Type your income into this chart to understand how much you pay
and how it has increased over the years: Interactive Tax Chart.
Personal Money Management: Conclusion
Once you implement your
personal money management plan to get out of debt and get on a budget, you can begin saving. Saving capital
and investing are the keys to multiplying wealth. Don't be dependent of your kids or a ward of the state when
you are 65. Change now and prepare now for then.