More cruise advice…

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Think that once you board your cruise ship, you won’t be paying for anything until you disembark? Think again. With most cruise ship experiences, you’ll have to budget carefully in order to keep your spending low. Here are some simple tips and things to watch out for when budgeting for your cruise.

Duration : 0:1:25

Interested in using an Envelope System for managing your cash? Check out this step by step tutorial.

Duration : 0:3:52

Ken Boyd, owner of St. Louis Test Preparation (www.stltest.net) presents part seven of his course on Understanding Cost Accounting. Boyd points out that students can have success with Cost Accounting concepts by making connections to actual examples from business. As a former CPA, College Accounting professor and Auditor, Ken has a wealth of experience to bring to the subject.

Duration : 0:6:6

Post your response to the following questions: How are budgeting systems used to weigh the efficiency and effectiveness of a health and human service agency? Why is this important

You figure out the efficiency by looking at a program’s total budget and then dividing it by the number of people who will participate in the program. (Unit cost).
The effectiveness is determined by designing program outcomes. Initially you measure your outcomes against other similar programs, then you develop a baseline and begin to measure against yourself. For example, if your program provides tutoring, you would want to measure how many students achieved a passing grade, how many were promoted, how many had completed homework, etc. You convert this to a % and try to achieve at least a 50% success rate. The next year try for 60% and so on. Then determine what the program costs per student and try to lower your unit cost each year.

I’m one of those people who does the impulse buying and I don’t realize just how much money I’ve spent until it’s done and over with. I really need tips on how to budget and save my money before I completely lose control of the situation.

Tips:

1- Avoid using credit cards. Credit cards make it too easy to spend what you don’t have.

2- If you must use a credit card, only buy items for which you know you already have the money for.

3- Make a list of your fix expenses for a month (rent, phone, electricity, heating, etc.). Then, compare that to your income for the month (salary, tips, investment income). If you make less money than your fixed (regular) expenses, then you must cut back on fixed expenses (e.g. get a smaller apartment or a roommate, a cheaper phone plan, etc.). Also, you could get a second job earn more income. If you make more money than your fixed expenses, after including food and a minimum for clothes and transportation, then you have what is called discretionary income, that is the remainder of your income after deducting all of the above.

3- Limit yourself to a certain amount of cash a week, depending on your discretionary income. For example, if you make $500 a week, and you deduct your fixed expenses (1/4 of rent, 1/4 of utilities, 1/4 monthly transit pass, etc.) and determine that you have $100 left, then put that amount in an envelope in your bedroom. Take out half at the beginning of the week and put it in your wallet. This way, you will force yourself to live within the cash in your wallet, but still have some left over if you spend it too fast. This discipline forces you to make choices when your out (not ordering wine at a restaurant, not buying those expensive shoes, etc.)

4- If you occasionally need to make a large purchase, deduct it from your weekly envelope and put it in a second envelope. Don’t make the purchase until you have most of the money saved up. In this example, say you wanted a $199 iPod, you would take out say $20 a week (plus found money like birthday cash, extra tips, etc.) and put it in the second envelope until you had enough money to buy it (at most 10 weeks).

5- You also need to build up savings for a rainy day (new bed, vacation, retirement, etc.). This must come out of your discretionary income. So, if you have $100 extra a week, take $20 or so and put it into a savings account. The Rule of Thumb is to pay yourself first (i.e. save) between 5% and 10% of your Gross Income (or salary before taxes).

6- To discipline your expenses. Avoid shopping unless you have the money. When you don’t go to stores, you can’t get tempted. If you must go ‘see what’s out there’, leave your credit and ATM cards at home. Should you find something that you really like or think you need, you could always return another day. At least you’ll have 24 hours to think about it.

7- Try to figure out why you ‘impulse buy’. Is it because you spend to much time shopping? Is it because you’re bored? Are you unhappy with some aspect of your life (job, relationship, etc.)? Then you might want to substitute shopping with other activities, such as sports, outings with friends, a new hobby, a course at school, or in activities to meet new people. Consult the newspaper listings for community events and inexpensive or free activities (open museum days, public pool, bowling, biking, tours of your home town, etc.). If you find that you are depressed, consult a therapist to get to the source of your unhappiness, if you think this applies to you.

Managerial Accounting SFCC Fall 2007 Chapter 7 Videos

Duration : 0:4:15

Professional budget advice you can’t miss! Learn how to use the envelope system to manage a budget for personal finances in this free online video tutorial.

Expert: Alfred Loughmiller
Bio: Alfred Loughmiller is a Multimedia Communications major from Utah Valley State University. He worked a number of years in advertising and television production.
Filmmaker: Danny Loughmiller

Duration : 0:2:7

RCABelfasthttp://gdata.youtube.com/feeds/api/users/rcabelfastEducationF5, Lecture, 13, BudgetingF5 Lecture 13 Budgeting

Duration : 0:7:28

Do It Yourself Financial Plan

Do It Yourself Financial Plan

Having a budget is one of the first steps towards building sound money management skills. A budget will help you track your expenses and identify the areas in which you can save. It can help you plan to get out of debt, reach retirement and fulfill your financial dreams.

In order to successfully budget, you have to identify your reasons for wanting to change your financial situation or Do It Yourself Financial Plan. Sit down and write down your goals. Whenever you are tempted to spend or skip balancing your checkbook, look at your goals. They will motivate you to do what is necessary in order to pay off your debt and save for the future.

In order to create a true budget, you will need to track your expenses for at least three months. Simply get receipts for everything you purchase. Once a week or so, take some time to record your receipts into a notebook or spreadsheet. Break them down by category. Finish out your budget by including all of your monthly and yearly bills.

Once you have tracked and identified your spending, you are able to review it and see where you can reduce unnecessary spending. This will be very helpful in finding the money to pay off debt and save.

One of the best ways to find money for your savings is to reduce your debt. By reducing your debt, you free up a lot of money in your monthly budget and in your future.

Do It Yourself Financial Plan

A home budget is often harder to stick with than it is to create. Too often, people take the time to create a budget, then file it away where they never look at it again. Here are a few tips for making your budget work for your finances:

Review it frequently. Like balancing your checkbook, the more you do it the better it works.

Remember that it can and will change over time. Finances are not set in stone — they need modifying.

When you aren’t meeting a spending goal, look at it and readjust it if needed. Too many goals are unrealistic. Start small and work your way up.

Don’t use someone else’s template for your budget. Finances are unique to each family or individual. Your spending needs aren’t like anyone else’s. Create your own budget based on your spending and goals.

Keep your overall financial goals in front of you. These goals will motivate you to stick with your financial plans. Your budget is just a plan — nothing more.

If for some reason, you fall off the budget wagon, don’t worry. Just pick yourself up, find out why it happened and start budgeting again. We all have our moments that throw our budgets off. All you can do is adjust your budget and your thinking. Remember your goals. Think about that comfortable and early retirement. Think about not having to worry about finding the money for your son’s college education. Think about that vacation or new furniture that you want to save for.

One of the best protections for your budget is having two savings accounts. One is for emergencies and the other is for yearly expenses. Your emergency savings will prevent accidents, break downs and other unexpected events from hurting your monthly budget. If you have a fund that will take care of fixing the air conditioner or cover a lapse in income due to illness, your budget can keep working. Most advisors recommend at least three months of expenses in your emergency savings.

Your yearly expenses savings account is where you keep the money for your yearly expenses. Simply total up all of your once-a-year expenses. Include birthdays, holidays, insurance premiums, taxes and other yearly costs. Divide the total by twelve. Every month you will deposit this amount into your savings. The idea is to not have to stretch your budget to pay something you didn’t plan for.

Martin Lukac - Do It Yourself Financial Plan

http://www.articlesbase.com/finance-articles/the-basics-of-budgeting-92163.html

Do It Yourself Financial Plan

Dave Ramsey’s book, The Total Money Makeover Workbook, will motivate you to immediate action so you can:

* Design a surefire plan for paying off all debt
* Set up an emergency fund
* Prepare for college funding
* Maximize your retirement investing…and lots more!

Truth To Go: Dave Ramsey Author / Radio Host The Lampo Group, 1749 Mallory Lane, Suite 100, Brentwood, TN, 37027 www.daveramsey.com Book: The Total Money Makeover

program #8235

Duration : 0:2:43