According to survey, most people spend 10% more than they make! Why is it hard to track spending? It is difficult for people to track their spending and whether it is wise or not because they cannot decifer between needs and wants. This is one of the biggest hindrance towards putting into practice good personal finance budgeting. Think of savings as part of expenditure; deduct it from your salary the way you do with utility bills, rent and other necessary expenses. Ten percent is automatically added to your savings account every pay day Budgeting and planning means never finding an excuse not to save. 3. Investing Make an investment plan - Savings are meant to keep us warm during stormy nights; and when used wisely, savings can help us achieve financial freedom before we actually retire. ELIMINATE WASTE A new pair of shoes is considered a waste if you still own four workable sets of pumps. Expensive toys that you just display on the dusty corner, the set of paperbacks lined on the bookshelf but left untouched, dining out when you can cook at home, are all waste of money. Whenever you feel the impulse to shop and dine for your pleasure, why not try this little experiment: estimate the amount you'll possibly pay for giving in to your heart's desire, then set the money aside, put it in an envelop, seal it, and open it after six months. If, still, the money you must pay for riding taxicabs or the subway is too much for your budget, then you can just walk to your destination. Personal budgeting doesn t only help you in terms of saving money but it also helps you in other areas. Personal budgeting can help you be more independent. You learn to lean on your own shoulder, which is hard to do, mind you. This estimate starts when your baby is born. Schedule an inexpensive family time This inexpensive quality time with your partner and the kids can either be a bike ride in the park, a trip to the local library, or even a walk in your neighborhood. In this way, you spend quality time with them without having to spend much. Templates are ready to be personalized to allow specific solutions to be developed. Budgeting software offers graphs and charts regarding how you are doing financially that are easy to understand. You will be amazed with how well budgeting software works in an organization where multi-usage is possible.