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Summary: Professional budget advice you can't miss! Learn why it is important to set up a budget for personal finances in this free online video tutorial.
Alfred Loughmiller is a Multimedia Communications major from Utah Valley State University. He worked a number of years in advertising and television production. In time he worked his...read more
"Hi! This is Alfred on behalf of Expert Village. In this section we are going to talk about the importance of a budget. Make a list of all the items, large and small that you need or that you would like to have and don't think that you can afford. Many of those are in your reach if you can budget well. A budget is tool that can both reveal problem spending areas and help fine tune your cash flow. Budgets are a necessary evil. They are the only practical way to get a grip on your spending and make sure your money is being used the way you want it to be used. Budgets are going to help you to save. Your goal should be to reduce your spending to about 90 percent of your income with the aim of putting the rest of that money into the financial objects you deem most important. As one of your regular expenses you should payments into a savings account or an investment account otherwise known as paying yourself first. A good minimum saving goal is about 10 percent of your gross income. The importance of this step can not be stressed enough. Given enough time, it can literally bring your financial independence. Now all budgets are not created equal and some are overly complicated while others require constant monitoring. We are going to look at some of the tools that you can use to create a budget that is just right for you. "
eHow Article: Why You Should Use a Budget
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.