Surely, budgeting and forecasting enable a company to monitor progress towards goals, control spending, and predict cash flow and profit, as well as improving its ability to respond quickly to competition. Keep in mind that budgeting is not an exercise in frugality. It is about planning ahead and keeping a good balance in finances. Many people purchase items with credit card more often than they would with cash. Always remember that it is better to buy items with cash as you are already free from obligations in the future. Some people may forget that a credit card does not do magic and a real bill comes at the end of the month - adding to your long list of financial obligations. They believe that those people who do budgeting and planning are starving themselves to death. But the funny thing with this is that these same people who criticize budgeting and planning fail to take a look at retirees who splurge themselves during their fruitful years. Have they wondered what became of these retirees after years of no budgeting and planning? This notebook can even be carried in your wallet or purse. Start writing down every little detail of expenditure on a daily basis. Do not forget to include the coffee you stop for every morning before getting to work, or that soda you have in the afternoon after getting off from the office. If you can keep track of every cent and every dollar you spend, you will be well on your way to keep track of your larger bills at home. You can start your household budgeting by making a layout of your expenditures and income by month for the past year. This will give you the idea of the amount and timing of your cash flow on a monthly basis. You will also see the incoming and outgoing of cash that occur weekly, monthly, quarterly and annually. If yes, how much would it raise to add up to fund the mortgage? Study all possibilities of cutting down your expenses. Take advantage also of the amnesty program that banks and credit card companies offer. Most especially the credit card companies, they offer payment of principal amount less the padded interest.