Budget Your Expenses

After my post on starting your 2008 with the right bang, a few people have shared their goals for the new year. Guess what? All of them includes earning more money. 😀

I think it’s great that people are inspired and building the drive to earn more money. But have you ever tried spending less? The most common thing that would happen is if you get a raise, your lifestyle also gets a raise and that means more expenses. But it’s not about how much money you are earning. It’s about how much money you’re saving!

Less is Definitely More

Even if you make a lot of money online, it won’t really matter if you spend it left and right. Most people know this in theory but have you even really tried applying it?

Get a pen and paper. Sit down and give it a few hours. Write down all your expenses in a month. Yes. ALL!

To help you get started here is an example. Try to break it down to categories like this.


  • House Utilities
    • Electricity
    • Water
    • Landline
  • Mortgages and Installment Bills
    • House
    • Car
  • Travel Expenses
    • Gasoline
    • Car Maintenance
    • Public Transportation for the kids.
  • Foods
    • Meat
    • Vegetables
    • Milk and Diary Products
    • Fruits


  • Monthly Membership
    • Subscription to a Newspaper or Magazine.
    • Country club membership.
  • Weekend Activities
    • Dining out in a fancy restaurant.
    • Beach Outing
    • Poker night
  • Recreational
    • Cable TV bills.
    • Piano lessons.


  • Life insurance
    • Mom
    • Dad
  • Educational
    • Luke
    • Leia
  • Mutual Funds

I’m sure you get the idea. Try it. But make sure to allot one to two hours if you’re going to start doing this. You wouldn’t want to ruin your concentration after you’ve started it. And lastly, once you start it. Make sure to finish it!

After the list, you might be surprised of all the unnecessary expenses you make. After calculating your budget, you can start picking expenses you want to cut down on. Good luck! 😀

If you found my post helpful, please consider stumbling it or subscribing to my feeds. Have a fantastic year!