Budgeting pls help

Yep I agree with Robert I feel that book is an excellent key to wealth. I also liked the money finder that Geoff Doidge and Paul Eslick have in a book. You can find it “The Ten Golden Rules of Property Investing” on
http://www.businessmall.com.au/ It is an excellent way of finding hidden money. Not a bad read either.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, Odes

Microsoft Excel!![]

Hi Fireman,

My advice to you when you are puting a budget together (regardless of what method you use) is keep it simple!! Don’t make it any harder than it absolutely has to be. Because this is a very necassary foundation for your wealth creation it’s important that it takes as little effort as possible so that you are not discouraged from doing it.

I always like to try and help people out so tell you what to save you some work – if you send me an email to [email protected] I will email you two speadsheets that I use for budgeting, and keeping track of my current finacial position (this is useful when you go to a lender for a loan etc).

How’s that!!

It is nothing flash but it works!

Hope to hear from you.

Regards,

Tim Wilson.

I am a strong believer in having control over one’s finances, but you won’t need to budget at all if you have a tough mindset of ‘just saying NO’ unless there are overwhelming benefits.

Make it a rule that every major product you buy must save you either time or money. If it doesn’t, then don’t buy it. For example a VCR or DVD requires the expenditure of both, and unless used for educational or creative purposes, should not be purchased.

On the other hand, if you have a wood fired hot water system that you need to gather wood and light, then a solar or gas one could be worth buying if it saves you time and you can afford the running costs. Ditto for microwave ovens, cars (for some people), etc.

Then there are the little things, like takeaway food, biscuits, lollies etc, which are harder.

Instead of a budget, you need to have some understanding of major living expenses along with an idea of smaller ones. Then you can work out how much you can save a month. 25-50% of take home pay is good and achieveable for many. Have this amount taken out of your bank account (for investment in managed funds, extra payments for loans, savings for deposits, etc). This is what the books mean when they say ‘pay yourself first’.

Aim to keep your regular savings account constant by questioning the necessity of everything someone wants you to buy. If you can do this, you’ll save heaps and won’t need to worry about budgeting.

Hi Fireman!

You wouldn’t happen to be the same fireman from the JB forums by chance? If so we know each other and I’d love to hear how you’re going!

HINT: I’m a certain ex staff member you’ve met at a number of seminars! []

Quasimodo
[email protected]

PS If you’re NOT the Fireman off the JB forum feel free to ignore this! []

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We are all but half formed images of our true potential.
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