Buying a Gucci dress for a hot date isn't an emergency situation. 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 to effective finance budgeting and financial control. After learning between needs and wants put what you have learned into practice. Here is a simple spending system that can greatly help your personal finance budgeting: - Create a personal finance budget that you can use - Save 10% of your income - Always know exactly how much you have left to spend - Instantly know the impact of every spending decision - Track all your purchases - Pay your bills on time - Effectively manage credit card spending Many people create a financial budget based on other people financial worksheets. A good place to look will be bargain stalls, which are situated in almost every city block. These budgeting tips can help you be keener to fashion, if you re the kind of person who is into fashion. This is so because you learn to accessorize to look great and not have to spend a lot on it. The money allotted for electricity, water and tax should not be disturbed anymore. One of the very first things you can start doing is to have a habit of writing down every penny you are spending daily. A small notebook is not large enough to be uncomfortable bringing around in your bag everyday. This notebook can even be carried in your wallet or purse. Start writing down every little detail of expenditure on a daily basis. Budgeting software is an automated solution nowadays that will help you keep a systemized maintenance of your budget. By using budgeting software, you can track your income and outcome. Credit cards make it easy to spend on impulse but by using a good program, you can reduce your expenditures because you can analyze your financial situation with ease. If you ask different people about budgets, most likely you will get different answers. To homemakers, a budget is an essential factor to keep the financial equilibrium of the entire household. To staff members, budgets get in the way of proposed activities. To finance committees, budgets hold staff members accountable.