Knowing Your Personal Finances: Budgeting and Spending Resources

Donell EdwardsDonell Edwards, Blogger

About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

 

Know Your Money
Tuesday – March 4, 2014

Knowing Your Personal Finances
Budgeting and Spending Resources
By Donell Edwards

In our first post we discussed the great importance of having a realistic budget and living within that budget.  We also emphasized the need to perform an objective evaluation of spending practices and to closely and regularly monitor spending.  How should this be done?  Why is this so important?  What tools and resources are there to help accomplish this task?

In this blog, which will be very short, we provide you with links to suggested reading where you will get additional reinforcement on the immense importance of realistic budgeting and constant monitoring of spending, as well as tools and resources to help you accomplish both.

So, we encourage you over the next three days to read as much of the information provided as possible, and choose what you feel most comfortable with and begin the process of tracking your spending and evaluating where your money is going.  Then, on Friday we will have another post for you.

Prepare to change, NOW!

If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to comments@knowyourmoneyglobal.com.

Suggested Reading:

Blonde On A Budget
What Did I Buy Today? The Spending Journal Giveaway
http://blondeonabudget.ca/2013/12/11/what-did-i-buy-today-the-spending-journal-giveaway/

Yahoo Voices
How to Keep A Spending Journal
http://voices.yahoo.com/personal-finance-keep-spending-journal-12045913.html

Gail Vaz-Oxlade – Other Voices
Back to Basics: My Spending Journal
http://gailvazoxlade.com/othervoices/back-to-basics-my-spending-journal/

MoneySense
Spending Journals Pay Off
http://www.moneysense.ca/columns/spending-journals-pay-off

eHow
How to Keep A Spending Journal
http://www.ehow.com/how_4808882_keep-spending-journal.html

Yahoo Voices
Your Money: Creating A Spending Plan
http://voices.yahoo.com/your-money-creating-spending-plan-2957026.html?cat=3

MoneySense
The Spending Journal Challenge
http://www.moneysense.ca/save/budgets/the-devil-is-in-the-details

eHow
How to Make A Weekly Spending Budget
http://www.ehow.com/how_4809940_personal-weekly-spending-budget.html

eHow
How to Track Spending
http://www.ehow.com/how_2312633_track-spending.html

 

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Comments

2 responses to “Knowing Your Personal Finances: Budgeting and Spending Resources”

  1. johnromanelli Avatar
    johnromanelli

    good post, i am aavid dave ramsey fan and on spending i think if your out of debt is an ok thing. but if your spending like congress, you should be cutting back on this. good post

    Reply
  2. Felicia M. Johnson Avatar
    Felicia M. Johnson

    One activity I have my students to do is save all of their receipts for 1 week and then bring them to the next class. I ask them to write down the amount they think they spent and then total up all their receipts. I have them to write an analysis of their spending to include categorizing the type of items they purchased. It is always interesting watching the students review their receipts and question, “Did I really spend that much money?”

    Reply

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