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Start thinking about budgets the way your employer and other businesses think
about them; “Success”. It
does not matter if you have had previous failures; living budgets® address the
short comings of traditional budgets.
Before we delve into answering some of the reasons why people have failed at
implementing and following-through with personal budgets, I would like to
present some positive facts. Consider this: all businesses and corporations
create financial plans, and implement budgets. Budgets are created to ensure
that the plan is attainable, and once created it is used to ensure that the
business stays on-track with the plan. Medium and large businesses roll the
responsibility of creating and following-through with approved budgets to their
directors. These directors are ultimately responsible for ensuring that their
department stays within the budget. The director’s yearly raise and bonuses are
normally tied to their department’s budgetary performance. Regarding reasons for not budgeting, I would suggest that we can narrow the list down to two: the budgeting platform (paper, spreadsheet, or program) did not provide the visibility, changeability, and maintainability needed to succeed. And the second reason why people fail at following-through with budgets is that they fail to keep their eyes on the goal (vision). But this gets back to the fact that the budgeting platform must not only provide visibility to the goal, it must have the ability to show you when current expenditures are placing future goals in jeopardy.
Budgets fail because:
Introducing Living Budget Pro our Financial Planning and Management Software
designed from the ground up to create and manage living budgets.
Referring back to the conversation on businesses, you might remember that I
mentioned that directors were responsible to ensure that their departments
stayed within their approved budgets. Since businesses must also consider cash
flow, the budget is reviewed and tracked on a monthly or quarterly basis. In
order for the director to ensure his/her department is on budget he/she gets
updated figures from accounting. These figures include total expenditures
to-date. If total expenses to date are above projections, he/she must cut back
expenses to stay within the budget. What I would like to point out is that in business, accounting provided the director with the visibility they needed to maintain their budget. When the director notices that they are heading down a course that will place them over budget in the future, they start cutting back. Living Budget Pro will provide you with that same visibility to see how current expenditures are affecting future bills and goals. Living Budget Pro will immediately notify you if an expenditure has caused the budget to go negative anywhere in the future. It also provides you with the ability to easily change current and future unpaid discretionary expense items, which will in essences balance the budget. As you can see Living Budget Pro closely follows the goals and methods used by the largest of corporations, yet it presents your finances in a simple and clear manner.
There are many people who are consumed with the issue of debt, thinking about it
constantly. They may also be
experiencing harassing phone calls made by creditors. There are also a
percentage of people who are still just
living week-to-week. These groups of people need a product that will make
it easy to expose and find untapped cash. Living Budget Pro will immediately expose and reveal your financial potential as revealed in December’s ending balance. This is normally the money that flows through your pockets throughout the year. Living Budget Pro also makes it easy to create, edit, and delete income and debt sources; this ability makes it easy to create many what-if scenarios and tailor a budget that actually meets your needs and objectives.
Living Budget Pro will:
If your finances are such that you can’t possible imagine the possibility of
having additional untapped cash, Living Budget Pro has yet another tool that can
help. Budget Squeeze is an automated tool that will analyze your entire living
budget and locate all available funds. The tool systematically tests all periods
determining how much is available before causing any future period to go
negative. Once located it presents the amounts in a form by period. It further
provides you with the ability to apply those amounts to one or many, new or
existing debt sources. Consider the possibilities; when money is tight, the tool can help find and apply unassigned money to critical bills. Budget Squeeze can also be used to help tailor your initial budget as you are working to fine tune it. Since your initial budget is somewhat unrefined, there will be more unassigned cash available for distribution. For example you could choose to apply an additional $20 every month to a credit card, while applying an additional $30 every week to groceries; lastly $40 could be applied to a new debt source you create within the tool. Upon completion all the updates are transferred to your living budget.
Budget Squeeze will:
Budget Squeeze This powerful tool if sold separately would cost as much as Living Budget Pro, but it is included free.
Okay, you have learned that for budgets to be effective they must:
Okay, you have seen some of that benefits Living Budget Pro offers, yet maybe you are still wondering how are you going to maintain this living budget? Well as the name implies the budget is living, meaning it is deigned to be maintained. At this point I must provide you with a more detailed look at the structure of a living budget. When you enter all your budgetary information into Living Budget Pro, it creates up to a year’s worth of transactions. All future transactions are considered placeholders. These placeholders make it possible for you to see your financial potential. Living Budget Pro conveniently uses a built-in check register to keep your living budget updated. All check register entries automatically update the main workspace. Since Living Budget Pro uses placeholders for future transactions, the placeholders are updated by the check register. For example, let’s say that you created a budget and set aside $100 every week for groceries. So when viewing the living budget you will see an expense item named groceries with the $100 for every week of the budget. If you purchase your groceries by check, the check will be made out to your local grocer; in this example let’s use “Big City Market.” Living Budget Pro provides a means for you to enter “Big City Market” into the check register and associate it with the groceries placeholder for that period. The end result is that the $100 for the expense item groceries will be zeroed, and a new expense item “Big City Market” will be created with the actual amount of the expenditure. Since all check register entries update the main workspace, you will immediately see how that expenditure affected your living budget. If that expenditure caused your living budget to go negative anywhere in the future, Living Budget Pro will visually alert you of the negative. As you can see these features make it easy to maintain your living budget.
Fully Functional Check Register
I mentioned that Living Budget Pro will notify you when expenditures have caused the budget to go negative.
Well after you exit the check register Living Budget Pro will automatically bring up a form if the budget has gone negative.
By default the form will make proposed adjustments to discretionary items and balance the budget.
The form has a couple of automatic options and a manual option for balancing the budget.
After you exit the form all changes are transferred to the living budget.
This feature makes it easy to stay on-track and ensures that future goals and
objectives are met.
Reconcile Over Budget Form
This feature is unique and is only
Regarding your Youth
Purchase Living Budget Pro today for only $59.99
Who will Living Budget Pro benefit? Living Budget Pro was designed to help individuals who are looking at the
following areas to improve their financial position: Personal finances or more
specifically personal finance, personal budget, financial planning, money
management, saving money, financial advice, financial advisor, credit repair,
credit report, credit score, and credit rating. Regarding personal budgeting /
personal finances and again more specifically, personal finance, Living Budget
Pro excels by providing a superior patent pending interface and method which can
greatly improve your overall money management strategy. Living Budget Pro should
remove the need to visit a financial advisor or seek outside financial advice,
and it can help you improve your credit rating, and credit score which is found
in your credit report. Regarding credit repair, Living Budget Pro is a tool
which can help you improve your financial position, which should ease the credit
repair process..
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