Creating a budget can be intimidating. We see all the different variations and hear all the different opinions and it gets overwhelming. Fortunately, there is a way to create a budget that is easy and actually makes sense. It takes into account your income and relieves the guessing game.

Using the percentage-based budget method is easy because you are basing your budget on a recommended percentage of your income. These percentages are what most personal finance gurus recommend to live a sustainable life.

Consider Your Unique Situation

Your situation is unique so be sure to consider all your financial obligations. If it is still overwhelming, consider simplifying your finances by talking to a finance professional, reading a good personal finance book, or taking a financial literacy course.

Recommended Budget Percentages

The recommended percentages for dividing your income are as follows:

Here are a few great articles to read further:

Basic Percentage Budgeting

http://liveloveleslie.com/2011/06/16/basic-percentage-based-budgeting/

A Deeper Look into the Percentage-Based Budget

http://www.thesimpledollar.com/2010/10/07/a-deeper-look-at-the-percentage-budget/

How To Work Off a Percentage Based Budget, and Save At Least 10% of Your Income

http://www.improvingyourworld.com/finances/how_to_work_off_a_percentage_based_budget_and_save_at_least_10_of_your_income_001906.html

10 Recommended Category Percentages for Your Family Budget

http://www.leavedebtbehind.com/frugal-living/budgeting/10-recommended-category-percentages-for-your-family-budget/

A few percentage-based calculators to create an easy budget:

Green Path Calculator

http://www.greenpath.com/university/calculators/budget-percent-calculator.htm

Crown Ministries Calculator

http://www.crown.org/Tools/Calculators/Budgeting_SpendingPlan.asp

Goals are an important part of life. It helps keep us on a path of success, and it helps us realize what is most important to us. When it comes to finances, having goals are key to keeping it in check and balance. A good way to do this is to write about your financial goals. Following these steps below will ensure that you reach your financial goals.

The first step is to write down your financial goals. It is the most ideal way to watch them become reality. The second step is to make your goals specific. It may be about your salary, debt, saving, anything. The next step is to keep your list of goals somewhere visible so that you can be reminded of your endpoint and stay focused. An alternative to this is to keep it hidden and check up on it ever so often. After you have created your list of goals, the fourth step is to formulate a simple plan on how to reach them. The last step is to make a time frame for your goals and stick to it.

Sometimes you can get off track of reaching your goals and can deter you from continuing. Your goals do not have to be related to finances; writing out your goals is still a very good way to keep your life in check and balance.

Saving is something that everyone should do regardless of how much money you make and what your status is socially and professionally. As talked about in the previous article “Rainy Day Funds” and other articles, it is always a good idea to save money for times that you cannot foresee from now. It is also a good idea to save for the little things that you have deserved over the year, or have wanted for a long time.

To get started on saving your money, get creative and buy a piggy bank, change jar (one that can track how much you deposit), mattresses, PayPal.com, etc. Being creative can make it fun to save, and easy to store it away from yourself. Sometimes people wait till their change jar, piggybank, or whatever container they use to overflow and deposit it. Another good way to save is to take out a 401K with your job (if they have one). They’ll take it out before your pay is taxed and deposit it into an account for you. Other things that can go into savings, whether an account or a container, is student loan refunds, stimulus checks, birthday money, and even your lottery winnings!

Whichever way you choose to save, make sure you always add to it, and not subtract from it. Saving money will always come in handy, and it will make you feel a lot richer than you might have been feeling before.

During this holiday season (or rather any time of the year), it is important to give thanks and be grateful what we do have and what is to come. To be financially fit, it is important to give gratitude in order to receive more. As we take some time to remember those of less fortune, remind yourself of the things that you should be grateful for.

Don’t forget to pay your bills, preferably on time. The services that you pay for in exchange for money are living essentials for your daily life. Remember that you are being grateful of having the benefit to use services that the city provides, to have a phone, finance a car, and much more. When you are more grateful for things, it changes your attitude about your bills. It causes you to remember that you could be homeless and jobless or one of the other.

Bills are a blessing that allow you to pay your dues on necessary services like the lights, water, gas, and a car for example. To be grateful during the holiday season and throughout the year, it is also good to donate if possible to those of less fortunate. Even though finances may be tough and the economy even tougher, don’t forget to give thanks.

In part 1 of the Disney on a Single Mom Budget post I shared how I took my daughter to Disney World on a pretty tight budget. I bought the tickets first at a discount and purchased the plan tickets well in advance to get a discount. In this post I share how I got our hotel for around $25 per night.

After I bought the airline tickets I began looking for hotels that were either on the Disney property or close to it. I didn’t want to worry about getting to the parks and I didn’t want to rent a car and have to pay for parking.

Research is the Key to Getting the Best Deals

I researched hotels that were outside of Disney first. They were cheaper but I felt it would be too much of a hassle to get into the park each day. I decided I wanted to say on Disney property so I researched their cheapests resorts. They were still way out of my budget even though it would be easy to get around the parks. I just couldn’t swing it.

Use Bidding Sites to Find Good Deals

But I got a tip from MouseSavers.com and a couple of forums to check out the hotels in Downtown Disney. They weren’t technically Disney-owned properties but they were serviced by the Disney shuttle system. I put on my thinking cap and researched all the hotels in Downtown Disney then I went to Hotwire.com to see if I could find a nice hotel that was in my budget. I found one that worked but before I booked it I did even more research.

I went to BetterBidding.com and checked the forum for bids that were won. They describe the property a person is considering and reveal the name of the hotel. I found out the name of the property I had my eye on and went to the website. It was the Holiday Inn resort hotel. They had good ratings, was in Downtown Disney, and kids could eat for free. Score!!!! I booked the hotel for three nights at $25 per night.

It was a pretty decent hotel. Not necessarily top of the line but it was good for us. My daughter ate for free at breakfast and dinner and we ate at the park for lunch.

Tip: Book your hotel through Hotwire or other travel bidding site if your money is tight. You can find out what the property is at BetterBidding.com or similar site. You may find a 3-5 star hotel for rock bottom prices.

In the next part I’ll share how I got around Disney for free!

With all the recent posts about my Disney trip I decided to post about how I took my daughter a few years ago for less than $1,000. I hope it helps you plan a trip for you and your kids too. Now is the time to start planning and paying your way to Disney. You won’t regret it.

In 2004 my daughter and I took a trip to Disney World. I had just graduated from college and gave myself this gift to reward myself for all the hard work. It was also an opportunity to take my daughter to Disney World for the first time.

I planned the trip a few months ahead of time but didn’t go all out like I see many families do. I was a college student, a mom, and a part-time intern. My money at the time would only stretch so far. But I made it work by using my research skills to sniff out deals.

Planning a trip to Disney typically starts at around $1,500. I didn’t have that kind of money to spend so I scoured the Disney websites and boards to get tips on how to get there with less than $1,000. I needed airfare for me and my daughter, a nice place to stay, food and transportation. I also needed tickets to the parks.

How to Get Discount Disney Park Hopper Tickets

The first thing I did was buy the park tickets. I worked on a military base at the time so I had access to their discount tickets because I was a government employee. I could buy park hopper tickets at a discount of about 35% or so. My daughter’s ticket was less because I could get the child rate. The tickets didn’t have an expiration date on them so I could go at any time I could schedule the trip. That was important and gave me a lot of flexibility.

Tip: If you work on a military base get your Disney tickets from MWR office. If you know someone who works on a military base or government facility ask them to purchase tickets for you.

Plan in Advance to Get Cheap Airline Tickets to Disney

The next thing I did was look for airline tickets. The earlier I booked them the cheaper they were. This was during the time when airfare was a lot less expensive. If I remember correctly, I was able to purchase round-trip tickets for about $150 or less each. So that was about $300 for our tickets to fly to Orlando, Florida.

Tip: Plan your trip at least three months ahead of time and buy your airline tickets weeks in advance. You will get a much better price at least two weeks in advance. You can try bidding sites as well but your mileage may vary.

In the next post I’ll share how I found a hotel on Disney Property for only $25  per night!

When you have a lot of desires and wants, it is hard to tell what you really need and really want. T.V., Internet, society and our loved ones most times blur the lines of necessity and luxury for us. This in turn makes luxuries a necessity, while more important needs are shoved to the back. If you are able to narrow down your wants and focus on your needs, you will be able to save more money!

First step towards recognizing your needs more is to separate your wants and needs on a piece of paper. Having a visual can help you see unnecessary spending and help you plan better. The second step is to plan your purchases more carefully. If you want something (or need something) in particular, it is better that you plan for it. Third, research the things on your list so you will be able to save the money for the purchase and purchase it smartly.

In retrospect, the only things we really need is air, water, food, and shelter (and sometimes clothes too). For all the other items that don’t fall into the basic needs category, they should be considered as optional purchases. When you have all your affairs in order, make that wanted item on your list a reward for your efforts completing challenging tasks that you may have put off.