From this initial picture, you can then forecast your expenses for the coming year. Household budgeting tips If this seems too complicated for you, you can start slowly by listing down budgeting tips you read in the magazine or thought of yourself. You can save money by being a smart shopper. You can clip out grocery coupons or check the mailers if any of the regular items you want to buy are on sale. Input the incoming money and the outgoing money, find the difference, and voila, your personal budget right in front of your eyes. Write in a separate sheet all your debts, recurring expenses and future expenses (such as yearly fee for life insurance or health card). Writing everything down will help you see when you spend the most and for what purpose, and how much you must raise for future expenditures. Use a debit card instead of your credit card. This way, the amount you're spending is the amount that is actually in your hands. Credit card allows you to spend over and above your current budget, which is bad, especially if you are not expecting any money to come in anytime soon. 2. Saving Make a saving plan - Everytime you receive an income, whethere that be from your regular salary, bonuses or sidejobs, take at least ten percent (10%) from it as your savings. Whether you've got too little, spend too much, or you end up in a spat with your partner every time it comes up, money can ratchet up the tension. If your solution to your financial stress is to take a long, hot soak to drown out those pesky calls from creditors, or go on a budget-busting online shopping trip, you may need to think again on your approach. Budgeting and planning are the main features of budgeting software, as the name itself implies. It produces recorded budgets that are detailed and accurate. Budgeting software guarantees timely and accurate data manipulation, analysis and management of the budgeting process. Most budgeting software allows you to customize according to your budgeting needs. Paying for school tuition fee or electric bills is a right example of emergency situation. Only fools keep more than one credit card. If you want to go down the pool of debt then own ten. Keeping ourselves away from temptation is the first step towards debt management budgeting. 2. KEEP TAB OF INCOME AND EXPENSES Write down in your budget pad or software every debt you have, even the small ones.