Budget Tips

  • Make impulse buying difficult (leave checkbook, credit cards at home)
  • Make savings an “expense” item
  • Make debt repayment an “expense” item (this is what credit counselors do for you)
  • Have some fun money for each family member
  • Budget for a fun item (vacation, toy)
  • Don’t over categorize your budget (i.e. do not make too many “expense” categories)
  • Don’t divide couple’s paychecks functionally
  • Use an interest-bearing checking account, if possible
  • Create an “expense” item to pay off credit card balances
  • Pay off the highest interest rate cards first
  • Don’t use credit cards again until balance is paid off
  • After a loan is paid off, keep paying the loan amount to yourself (make a vacation fund, or next car fund)
  • Set aside money monthly, for bills that are due quarterly, semi-annually, or yearly
  • Reconcile your budget at least once a month when reconciling your checking statement
  • Make sure to mark your last reconcile point in your budget
  • Try to get utilities or banks to change due dates of bills to make your work easier
  • Remember, just the act of identifying your expenses is extremely valuable. This is commonly referred to as “tracking” your expenses. But remember, this is only half of the
  • Budgeting equation. Tracking expenses is analogous to just looking in your “rearview mirror” for information. You have to learn to look ahead and see what is coming too!

Copyright 2006 Reprinted with Permission of Tulip Tree Press and Jane E. Chidester and John L. Macko, authors of “BudgetYes! 21st Century Solutions for Taking Control of Your Money Now!

Featured in Plymouth Magazine

Example Image

Ut Prosim: A Cultural Exchange in Jamaica

On Sunday, January 8, six Plymouth State students and their instructor, Jessica Dutille ’03, ’04G, boarded a plane bound for Jamaica, leaving the remnants of a snowstorm behind them in favor of a week of sun and 80-degree weather. But this was no vacation. This was a service-learning trip in which Dutille, an instructor in […]

Example Image

A New Day, A New Way of Giving

Thanks to life in the digital age, when information is as close as a swipe and a tap away, old-school philanthropy has been turned on its head. Donors want—and can find—more information about the causes and organizations they support. They want to feel confident that their gift is going to make a difference; and with […]

Example Image

First in the (New) Nation

A Young Man’s Journey from a Nepalese Refugee Camp to the New Hampshire Polls » Southern Bhutan. Early 1990s. Members of an ethnic minority population, the Hindu Lhotshampas, began fleeing rising levels of persecution by the Bhutanese government. Denied their citizenship rights because of religious and cultural differences, the group—more than 100,000 strong—eventually sought protection […]