Hands on tips for budgeting with YBP

<p> <strong>Targeted and Actual Amounts</strong></p> <p> People often ask, why it's necessary to have an actual amount and a target amount for each item in your budget. This is necessary, because actual expenses vary from month to month, whereas your target shows you what you are aiming for. The actual amounts will never match exactly the targeted amounts but your&nbsp;actual values should average close to your targeted values over a&nbsp;period of time.&nbsp;The targeted amounts should only be adjusted occasionally.</p> <p> <strong>Allocation of funds</strong></p> <p> The purpose of allocation is to create a targeted balanced budget where the savings plus the expenses equal the income. It will take a few adjustments to get a balanced budget. YBP provides a note regarding your budget each time you save your budget.</p> <p> <strong>Update Regularly</strong></p> <p> Updating regularly creates experience and transparency, which in turn creates knowledge.&nbsp; This is a prerequisite to get control over your finances. Getting control means that expenses stay on target and don't create debt, by knowing exactly what money you have available, you will be able to make more sensible decisions when it comes to expenditures.&nbsp;This in turn means that budgeting becomes easier and easier to do.</p> <p> <strong>Follow Through</strong></p> <p> By following through with the plan and creating a balanced budget, you will be in control of your finances. This also means that you will achieve a higher level of satisfaction, success and peace of mind.<br /> Eventually, as you grow more accustomed to your budgeting, you can transition to a less strict budgeting approach, the '<em>Expense-Control Budget</em>' . This literally means that your expenses are under control.</p> <p> <strong>Use Expense-Control Budgets</strong></p> <p> An Expense-Control Budget means that expenses are under control (expenses don't excede the Targeted amounts).&nbsp;</p> <p> Therefore: no&nbsp;debt is created, expenses don't have to be highly monitored anymore, savings can easily be added to your Savings Goals.</p> <p> <strong>Achieve the "Savings Budget"</strong></p> <p> Realistically, if your expenses are under control then you only need to pay attention to your savings. It's true. It is hard to do but it is possible. More to come on this very issue.</p>

<p> <strong>Targeted and Actual Amounts</strong></p> <p> People often ask, why it's necessary to have an actual amount and a target amount for each item in your budget. This is necessary, because actual expenses vary from month to month, whereas your target shows you what you are aiming for. The actual amounts will never match exactly the targeted amounts but your actual values should average close to your targeted values over a period of time. The targeted amounts should only be adjusted occasionally.</p> <p> <strong>Allocation of funds</strong></p> <p> The purpose of allocation is to create a targeted balanced budget where the savings plus the expenses equal the income. It will take a few adjustments to get a balanced budget. YBP provides a note regarding your budget each time you save your budget.</p> <p> <strong>Update Regularly</strong></p> <p> Updating regularly creates experience and transparency, which in turn creates knowledge.  This is a prerequisite to get control over your finances. Getting control means that expenses stay on target and don't create debt, by knowing exactly what money you have available, you will be able to make more sensible decisions when it comes to expenditures. This in turn means that budgeting becomes easier and easier to do.</p> <p> <strong>Follow Through</strong></p> <p> By following through with the plan and creating a balanced budget, you will be in control of your finances. This also means that you will achieve a higher level of satisfaction, success and peace of mind.<br /> Eventually, as you grow more accustomed to your budgeting, you can transition to a less strict budgeting approach, the '<em>Expense-Control Budget</em>' . This literally means that your expenses are under control.</p> <p> <strong>Use Expense-Control Budgets</strong></p> <p> An Expense-Control Budget means that expenses are under control (expenses don't excede the Targeted amounts). </p> <p> Therefore: no debt is created, expenses don't have to be highly monitored anymore, savings can easily be added to your Savings Goals.</p> <p> <strong>Achieve the "Savings Budget"</strong></p> <p> Realistically, if your expenses are under control then you only need to pay attention to your savings. It's true. It is hard to do but it is possible. More to come on this very issue.</p>