Tips on Effective Money Budgeting

Money budgeting is important, as it will enable one to live comfortably on a limited income without going into debt.

earning how to budget is not hard, but it will take a lot of self discipline and the willingness to forgo certain activities and purchases that are out of range.

However, most anyone who wants to save money can do so. It does not take a lot of skill, just a large measure of will power. There are also software programs and sites that can give one good practical counsel on drawing up a monthly budget and sticking to it.

How to Create a Budget

The first step in money budgeting is to make a budget. To do this, one will need to write down his or her average monthly income and then note how much is spent per month on rent or mortgage, utilities, groceries, taxes, medications and other expenses that cannot be avoided. One should then see how much money is leftover for expenses such as travel, gas, home and car maintenance and entertainment. As spending more money than one makes is never a good idea, if an individual does not have enough money for a certain expense, he or she will have to forgo it. The list of how much one can afford to spend on any given thing is known as a budget.


A simple budget can easily be created in Microsoft Excel. There are also various money budgeting software programs online that one can take advantage of. is a great program to use, as it is simple, effective and best of all completely free. Quicken is another popular program.

The average person would only need the home and business version, which costs $100 online. An individual who would rather not learn how to install and use a new finance program can also download and print various budget spreadsheets free of charge at


Money Budgeting Websites

Money budgeting websites, unlike many software programs, help you to find ways to save money. One good site of this nature is This site specializes in helping one find the credit cards with the lowest possible interest rate and the best possible cell phone and wireless plan. has an online section that is full of money saving tips and tricks. is a good site to use for a person who is planning on buying a house, as it will help one to see which lender offers the mortgage rate with the lowest interest. is yet another good site; it rates how a person is doing financially and offers numerous money saving and money budgeting tips and tricks.

The aids listed above can do wonders in helping a person make a budget and stick to it. A person should check out the sites and programs listed above and find the program or programs that best suit his or her needs. However, the most important ingredient in learning to balance a budget is self discipline. A person must be willing to keep him or herself in line. Then these aids will be effective in helping one to save money.

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