Personal Budgeting Strategies

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Personal budgeting strategies always involve spending less money than the money that is earned. Discover how to create a ledger for a personal budget with help from a registered financial consultant in this free video on money management and financial advice.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser, Patrick Munro, talking about personal budgeting strategies. Personal budgeting strategies are very important to your financial success and there are many ways to achieve them but most notably personal budgeting strategy involves you spending less money than you make so that you have money left over to invest for your future. This is key and the way to do that is to make sure that you have a system in place that allows you to have a sharp focus on the amount that you are spending on a monthly basis and stay within those guidelines. This ledger system that I referred to is important because you can make sure that you bills are in a chronological order and you sit down with them on a weekly or monthly basis to make sure that they get sent out in a timely fashion and a personal budget strategy will allow you to constantly focus on how you are spending your money and ways to save that money will become apparent to you as you go forward. This is Patrick Munro, financial adviser talking about personal budget strategies.

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