In this final aspect of controlling, differences from budget are noted, evaluated and explained because this helps the household or organization's ability to begin preventive or corrective actions. Managers of any home or organization are responsible for ensuring that the costs outlined in the budget are accurate. Most especially for the credit card companies, they offer payment of principal amount less the padded interest. This will help make budgeting and managing your debt easier. If you think you're drowning with the amount of your monthly amortization, say for your mortgage, ask for debt restructuring. Have it stretched to suit your budget. Consolidating debt into a low-interest loan could be a great solution for you. Or perhaps you just need a structured repayment plan. Maintain a cash cushion. Nothing is more stressful than losing your job or receiving an avalanche of unexpected bills. Maintaining a cash cushion in the bank -- typically enough to live on for at least three months -- can help you sleep easier at night. Living in these houses would not only help you in saving, but it also helps you become more independent. This way, you do not need to pay extra for your household helpers, and at the same time, you learn how to do household chores on your own. Budgeting tips can sure do miracles for those who are overly dependent on their maids. Once you have created your budget, you will know if you are spending wisely or not and you may be able to find ways to invest at least enough money in a good mutual fund. Another way to find out where your money goes is to collect all your receipts and credit card bills from the past few months. In this way you will keep track of your spending and think twice next time on purchasing on an impulse. Here is a simple spending system that can greatly help your personal finance budgeting: - Create a personal finance budget that you can use - Save 10% of your income - Always know exactly how much you have left to spend - Instantly know the impact of every spending decision - Track all your purchases - Pay your bills on time - Effectively manage credit card spending Many people create a financial budget based on other people financial worksheets.