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Adding it all Together Using a Budget Calculator
A budget calculator is a calculator that is designed with a set of algorithms and formulas that help you calculate your financial projections. Budget calculators can be found almost anywhere, but the easiest and quickest place to look to find one that meets the needs of a specific individual or business is to go online and utilize the services of financial, academic or business site that offers these services.
Computer software can also be helpful and there are many personal finance programs to choose from. Two of the most popular titles are the Quicken program by Intuit and Microsoft Money. These programs allow budgeters to use functions such as: check books, credit card accounts, budgeting, financial planning, investment tracking, online banking, online bill paying and even tax records for financial organization purposes. These types of programs are usually relatively inexpensive.
Deciding to make a budget is an important step in taking control over the personal finances that sustain an individual’s daily life, however the process can be confusing to inexperienced budget planners.
Create a Worksheet
A budget worksheet should include household expenses, any business related expenses and personal ones, itemized in categories such as, home, utilities, food, credit card bills, transportation, health and medical, pets, hobbies and recreation. The more specific, the better.
A budget worksheet can be very useful in budget planning as it will help organize the information into related categories, making it easier to find at quick glance. A budget worksheet will vary depending on its purpose. There are a number of ways to create a budget worksheet. For example, most computer operating systems come with a program that can aid in the creation of a budget worksheet, such as Microsoft Excel. Also, there are many great budgeting and financial planning tools on the market today, such as the aforementioned Quicken program. A budget worksheet can also be downloaded or printed out online from a number of websites.
Keep it Up
A budget should be maintained monthly and adjusted accordingly by receipts and bills. This way, it is easier to see what monies are being saved or if the budget is working and if any adjustments need to be made. Keep all the necessary paperwork together in one place including all receipts, bills and the budget worksheet itself, so that the process does not becomes a nuisance and ultimately discourage the budgeter.
It is important to realize that budget planning takes time and that positive results may not necessarily be immediately seen. Budget planning has long term results, however, that can significant improve the quality of life an individual live by providing financial consistency.
Keeping a budget is a good idea for every individual and can be especially helpful in planning for the future – such as schooling, travel or family planning. There are budget calculators available to take into account almost any type of budget. Looking online for resources for the specific type of budget calculator to assist in planning will save time when it comes time to start planning.