Budgeting and Watching Out For Those "Deals"

By MAD21

Investopedia has a special feature called, "Budgeting 101."If you are trying to get the business end of your household in order, it is a great place to go for information regarding your budget. With the current economy, budgeting is more important than ever. Even if you still have a job, you need to prepare for anything that could happen in the future. What is it they say? "The only sure thing is death and taxes." Having a good budget and sticking with it can relieve huge stresses in the future.

Two topics Budgeting 101 covered that I particularly liked were, "Top Five Budgeting Questions." and, "Sneaky Strategis That Fuel Overspending."

In the article on budgeting questions, they answer:

1. How much should I set aside for investments?
2. How much should I allocate to debts like credit cards or car loans?
3. Should I overpay on my mortgage (if allowed)?
4. How should I maintain and update my budget?
5. Why do I always seem to have expenses or wants that don't fit into my budget?

In the article on overspending, they discuss:

1. Creating Hype
2. Encouraging Excess
3. Concealing the Deals
4. Reneging on Rebates
5. Bogus Bargains
6. Preying on Impulse

No matter where you are in life, whether you have a family to support or not. I encourage you to start looking at where your money is going. Take control of the money you work so hard to earn. Don't become a slave to the credit card companies and banks, and learn how to fight the need for immediate gratification. We all need to learn how to save and spend our money wisely. So we can have a better life now, and later.