Related Services - The following companies and services offer a wide variety of financial programs to assist you with handling your debts. Consolidate your bills with a debt consolidation loan or use a debt management or credit counseling service for help with your credit card bills and other payments.
- Debt Settlement Service - Too much debt? List of companies providing this alternative to bankruptcy that provides for debt negotiation and arbitration services for those that need to eliminate debt.
- Personal Loan Consolidation - Looking for a personal loan to consolidate your credit card debt? These loans are usually unsecured, meaning you are not required to provide collateral. Approval is often based upon factors as your income, credit and job history.
Budget Definition
Define Budget: In the world of personal finance, a budget is simply a list of planned expenses and income. The purpose of a budget is to forecast monetary income and outflow in order to facilitate financial planning. A typical family budget will list all income, routine and regular savings, and expected expenses, including repayment of debts when necessary. Several common tools for budgeting exist, but in reality, little more than a pencil, paper, and a desire to stick to a plan are necessary. Sure, you can spend $200 on fancy budgeting software, and it may help, but it isn't required. Software will do you no good unless you stick to the budget that you create for yourself.
Common categories to find on a personal budget include: net income; housing (mortgages and rent); food; automobile; insurance (home and auto); debt repayment (consolidation and personal loans); recreation / entertainment; clothes; contributions to savings (401k and bank savings accounts); medical / dental (insurance and co-pays); school / childcare; charity / religious donations; and miscellaneous. Experts suggest that about 10% of a family's total income should be spent on retirement savings, and another 10% on long-term savings (to be prepared for unexpected expenses). Typically, budgets are established for a monthly period because most routine charges are likelt to occur on a monthly basis. Most initial budgets are fairly inexact. It's OK to make necessary changes. No one has a crystal ball. Future revisions should be made to reflect wage increases, new expenses, or overlooked common expenses. However, the single most important thing to do with a budget, as already stated, is to stick to it.
Debt Consolidation Loan Related Words and Phrases Definitions
Index: B
Previous: Breadwinner - Next:
Budgeting