Budget simple, simple, simple

Why simple

All people tells that a budget is important. I agree you need to have one of some kind. it's the game plan for your money. it's a tools and it should be as simple as possible. some person will need a very detail one that's their choice. starting with that for most will make them stop using it as too restrictive.

Money management is easy for me and with a good memory I made my budget in my head until I finish university. I now suggest that you write it down in a simple form because I know my old method don't work for 95% of the peoples. After I used excel and Quicken. the idea is to have a game plan for your finance. detail are sometimes necessary. but the big picture is more important and need to be available.

Budget can be just a 5 or 6 category. like for a student for a year
income : 11000

tuition fee : 3000
book : 500
rent (12 x 300) : 3600
utility (12 x 60): 720
food (52 x 20) : 1040
other (52 x20) : 1040

then 1100$ in case not much but should be used with care.

Budget should be the game plan not wishes, dreams it should plan the reality.

keep on track

Budget is the game plan; keeping track is to make sure you follow the game plan. you should track it and found how you do compare to the game plan. there also keep the tracking simple

for more information about budget and financial planning:

How to make a budget

Budget should help manage your personal money, like a game plan not a series of number