Every Dollar Matters

Why You Need a Personal/Family Budget?

To manage your income and expenses

If you do not have a budget it is much harder to practice the rule "do not spend more than you make". It does not matter how much or how little you make. You need a budget!

Extra cash for things you want


You can either make more money (easier said than done) or manage and reduce what you are spending. The latter is much easier to get a handle on. But first you need a budget.

Reducing debt

With a budget you can get control over your debt. Even without a budget this is an area of your finances to take charge of today. Click here to access a free excel spreadsheet and guidance on reduding your debt.

Planning for your future

Retirement may be ten years away, it may be thirty years year. In either case you need to plan for retirement. A budget helps you to do this.

Manage your mortgage or plan to buy a home

Owning a home by the time you retire will reduce your expenses later in life. Click here to download a free excel spreadsheet that you can use to either track your mortgage or to model different mortgage scenarios.

Reduce your tax liability

Most budgets do not take into account the taxes you pay. Many of you are never really sure if you are paying the right amount in taxes until you file your taxes. Hell, you might as well hire a magician to help you fill out your W4. If ever a form was black magic it is that one. My excel budget spreadsheet has a tax estimator built in to help you figure out your tax liability.

Five good reasons to have a personal budget

  1. You really want to take that Alaskan cruise.
  2. You live paycheck to paycheck.
  3. You have little to no savings.
  4. You think IRA stands for Irish Republican Army.
  5. Because Warren Buffet has one?

Far too many of you out there are not managing your money. Many of you are spending more than you make and falling deeper and deeper into debt. You think that budgeting is too hard, or maybe you just keep making excuses and procrastinating because you are too busy.

Whatever your excuse it is time to stop making them and time to start managing your money Start by clicking here.

A Budget does not have to consume a ton of time

An afternoon one weekend to get started, then an hour a two a month is all it takes for many people. You may need a little more time in the beginning until you get a handle on your finances.