How to Make The Most Of Budgeting Skills In Personal Finance

Personal budgeting is a good way to making sure debts are kept at bay. In a situation where the account does not balance, there is a problem. When it is in deficit, it could be alarming. Many people find it difficult to control their personal finance

 Most times, people know they are taking the wrong turn, and steps. This effectively drags them into the debt mire. 

The fact remains that nobody gets into debt blindfolded. So what can be done to avoid the very sorry state of financial affairs?

The answer lies in enforcing the practice of personal budgeting. This is no wonder cure for poor financial management.

 It only works if you commit to doing the right thing and adhering to set expectations

Let us look at some identifiable touchstones:


Mortgages, loans, and credit card debts are necessary. These commitments need to be the first charge when you receive your paycheck.

 The rates that go along with these obligations do not have to be fixed. They can be negotiated and you can grab the best deal.

 If you have a debt overhang, leave out luxuries and set your eyes on a healthy financial slate as the first step.


Entertainment, holidays and phone calls can deal your financial fortunes the death knell. If not immediately, certainly slowly.

If you fail to have a budget for these frivolities, you will be amazed at the chink of your income they erode each month.

what most people think is that they are spending a mere $20 buck or less at a time. They forget that in 50 places, these will become $1,000.

This is exactly how people dig a hole in their income and become worse off.

What Can I Do To Improve My Cashflow?

 Truth be told, there is no way you can survive on a meager paycheck. You need to try some ways to spice up your income:

Perform more overtime work

If your work environment allows it, you should consider doing some overtime. It will amaze you how $200 inflow weekly for the month can give about $1,000 monthly as additional income.

Make money on the Internet

Many people are still ignorant about the reality of the internet economy. These days, you can make money by performing online tasks.

The good part is that you do not have to be physically present to get these done.

Rent out your vacant room

You can rent out the vacant room in your house if there is any. These days, a simple advert in the free classifieds can land you a prospective tenant.

 By month-end, you will have extra bucks in your hands.

Get a home workout kit. 

You can ditch the gym and workout at home to save on gym fees. How can you do this? Get a jogging partner or enlist a friend to do the rounds with you.

You can also learn how to improvise with what you have at home to get great results, Through diligence, you can get similar results from home workout without going to the gym.


Making the right decisions, no matter how tough, can be the lead for you in getting a better personal finance slate. Try out these suggestions today.

Adolph Obasogie is a Chartered Accountant and founding partner of Adolph Obasogie Professional Services. He is also the CEO of Harrison Global Capital.


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