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Now That You’ve Set Up Your Budget
Posted By Ron On February 3, 2010 @ 10:00 AM In Budgets,Personal Finance | Comments Disabled
If you’re one of the thousands of people who have checked out YNAB  through this site, I’m sure you’ve been as impressed as I am with this incredible budgeting  software. If you’re one of the dozens who has taken the plunge and decided to follow up on your New Year’s Resolution by implementing YNAB’s  budgeting  philosophy in your financial life, you may be wondering what to do next. Well, after setting up your budget , you’ll quickly discover that you’re in one of four different categories:
Congratulations. You probably only need some small lifestyle changes to begin experiencing financial success, saving money, and eventually investing for your long term goals. Consider cutting back on dining out, clipping coupons, using NetQuote to help you get better insurance rates, or other small changes to decrease your ongoing expenses.
Big congratulations are in order! It’s time to investigate which savings account  to use and begin investing for your long term goals. Try reading How A Second Grader Beats Wall Street  for some solid ideas on investing for the long term while decreasing your investment costs.
What is a small amount? In this case I’d say less than 5 percent. If this describes your situation, tighten up those budget  categories and begin implementing as many changes as you feasibly can to save money. Cut your cell phone  bill, do away with your land line, suspend your cable, clip those coupons, lower your thermostat (in the winter), carpool, raise your insurance deductibles, stop using any credit cards , and shop with a list.
Step back and take a deep breath. It’s time to decide what’s important to you and wipe your slate clean. It’s time to start over. Are you going to:
Regardless of your personal situation, you do have choices. You can change your future by using your YNAB  budget  to correctly identify what categories you need to tweak, and where your expenses can be trimmed. You’ll find that you can identify where you’re wasting money and where you can manage to save for your future.
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