Budgeting has been never been easier than it is today.

There are budgeting tools everywhere; on the Computer, Tablet, Mobile apps and printable templates available online. Inspite of all this; do we diligently budget our income and expenses? Free Budget Planner

If not!!!  Why?

I recently read a quote by Peter Drucker “ What gets measured gets managed” Although very short, it is so true.

If you do not measure how much you make, home much and where you spend, then how can you expect to manage your money.

Chances are that you are spending on things which could be avoided, shopping impulsively to buy stuff which is not useful.

Why Budget?

  • It allows you to “Pay Yourself First”.  We usually pay all our bills and expenses and save the money left over( if any).

Given the prevailing inflation and challenges with investing; it is essential to be consistent in saving and investing. When your budget’s first allocation is toward saving and investing for your future, it very unlikely you will not save.

  • A Budget allows you to plan your expenses (particularly the large ones) way before they actually happen; enabling you with the following options;

Free Budget Planner

  1. Avoiding the expense totally if possible
  2. Finding better and more affordable alternatives if available
  3. Planning to put together the money required for the expense
  4. More importantly, planing the right time to buy the thing (During a sale or discount)

Expenses like vacation, purchase of gadgets, appliances, furniture, clothes and other discretionary purchases usually offer more room for planning.

  • A Budget allows you to stagger the expenses inline with your income or according to bigger expenses in a particular month.

For Example: When rent is paid on a quarterly basis; a budget allows to plan expenses in the months when the rent is not due.

  • It also helps you avoid unnecessary or unplanned borrowing. Even in case of an unavoidable borrowing, a budget allows you pre plan the actual borrowing required. It enables you to start the application process much early so that you can strike a good bargain on the interest and fees payable.

In the absence of a budget, you would realise the need for borrowing very late and hence there may not be enough time to shop for a good deal.

  • A budget can also enable charity. Most of us contribute to a charity spontaneously; when triggered by a particular event or when we are at a particular place. A budget can allow you to plan a certain percentage of your income towards your favourite charity, helping you feel tally and fulfilled.

Introducing Free Budget Planner

Now that you are convinced that a budget is useful; I am happy to share with you a Free Budget Planner helping take control of your finances.

I have made this Free Budget planner exclusively for UAE residents; helping you record income and expenses in AED and provision for expenses particular to UAE.

 

Image courtesy of Vichaya Kiatying-Angsulee. at FreeDigitalPhotos.net Image courtesy of Sira Anamwong. at FreeDigitalPhotos.net
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