18 November 2009

Calendar Budgeting

Use a calendar to record your automatic payments, daily expenses, pay days and when irregular bills are due. By listing your income and expenses on a calendar you can see at a glance where your finances are each month. At the start of each year go through the calendar and mark regular payments such as direct debits and pay days so you can see exactly when money is going into and out of your accounts. This is especially helpful in tracking when a direct debit will occur before a regular deposit, running the risk of there not being enough funds to cover it. After a recording for a few months you should be able to see the pattern in your incomings and outgoings, enabling you to make a few phone calls to utility companies to have due dates adjusted to match pay days, eliminating the threat of overdraft.

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