To keep yourself and family from sleepless nights due to debts, start a debt management budgeting strategy with special interest on decreasing debts. 1. CUT ALL CREDIT CARDS It is best if you don't use credit cards, or even own one. If you think you're responsible enough to use it in emergency situation, then leave one for those times. This fact, alone, makes food the most important necessity, which summarizes that it must be the first thing you should concentrate your budget on. If you are really determined to save, you can stay alive by eating on a strict diet. A diet not necessarily for you, but for your wallet. Personal budgeting would make crackers and a glass of milk do for a meal, depending on your level of determination. Before you leave the house think about the route you will be taking so you can use short cuts, avoid traffic jams and do important things along the way (like pay the bills, etc.). It saves gas and time. Check your user's manual for the car's necessary maintenance. Regular tune ups and oil changes will help prevent costly damages to your car in the future. The Australian National Audit Office has identified the advantages of activity based budgeting: The Advantages - Output costs are supported by a schedule of costed activities - Opportunities to examine work processes - Identifies non value-adding activities that can be eliminated - Basis of a performance measurement system and direct link between strategic goals and operational realities - Enables cost profiles to be managed - Accurate costing data for operational management - Costs are transparent, understandable and actionable Disadvantages - Activity definition may become too detailed and the model may become too complex and difficult to maintain - Underestimation of the task of collecting activity driver data - Implementation may be considered a financial management fad and there is insufficient commitment from operational managers Activity Based Budgeting Disadvantages - Usually requires buying Activity Based Budgeting software - Requires training of all managers including budgeting department - Requires people to really understand what drives their budget - Eliminates excuse that activity volume changed because it makes visible volume changes - Requires everyone to collect or estimate activity volume By understanding how resources are transformed into products or services, and byfocusing on the cost of activities, activity based budgeting helps an organisation to obtain a greaterunderstanding of how costs behave in their organization and which activities create significant amounts of cost. Buy one and buy the raw materials for its production from your local supermarkets or office supplies stores. This will help you maximize your wedding budget. For entertainment, you can ask friends who can belt out a Mariah Carey to sing for the night; an overly talkative officemate as the host. If you have a friend who works for the circus, don't ask him to bring an elephant for a magic show; a dove and a rabbit will do. Here are some tips to help you get your financial life on track. Start saving early. Whether you're saving for your kids' college education, a new home in a nice village, or a special out-of-the-country vacation, start saving early. It is easy to put off saving until next month, but you never know what will come up that will change your plans.