Many individuals and families try to create a budget. They write down monthly expenses or enter them into a computer program. They make a commitment to sticking with it. But, within a few months, the budget is busted. Why does this happen? Why can’t you stick to a budget plan that you’ve taken the time to commit to either paper or electrons. This article discusses why this happens so often.
Did you know that when you pay for car rentals, hotel/motel rooms or gasoline with a credit or debit card a block for what the merchant and the credit card processor have as a maximum average purchase amount is placed on the account? For a fuel purchase this is usually between $50-$100. For a car rental or hotel room this might be several hundred dollars. Did you know that if you do this kind of purchase with a debit card it can cause your account to be overdrawn?
Most people, once they get serious about managing their money, will draw up a monthly budget plan with things like housing, credit card payments, car payments, and utilities. This part works well but where things fall down are with weekly or even daily expenses. Things like groceries and other little things either don’t get included […]