Budget to Behavior

Budget To Behavior

FIS 210

March 14, 2010

Doris Danchi

Budget to Behavior

After completing the expense tracking and personal budget planning worksheets I have come to realize that even though I have a positive deficit at the end of each month, there is always room for improvement. These worksheets allowed me to see where exactly my money is being used towards. I realize that most of my money goes towards my housing and my needs; very little of this money is being used towards any wants.

I have looked at all the areas where there could possibly be adjustments to help me increase my monthly deficit, and one of the biggest area is my mortgage. I decided to do some research as to how I can make an adjustment to my mortgage and found out about an organization called NACA (Neighborhood Assistance Corporation of America). If I am able to qualify they will help me bring my interest down to at least 1%. This would bring my mortgage down tremendously and help me save more money every month. Another possible area that I could make an adjustment would be my monthly medication. Instead of getting my prescription medication through a regular pharmacy, I can get it by mail but I would have to get a three month supply each time I refill. Instead of paying $30.00 monthly, I would pay $60.00 for the three months; therefore I would be saving $30.00 total which would equal out to $10.00 per month.

I best control my expenditures when it comes to my personal care expenses and also my utilities at home. I try not to buy too many things for myself unless they are really needed, and when I do need to go to the store I make sure that everything is written on a piece of paper so that I can focus only on the things needed and not any wants. Another thing that that I try to do when going to the store is making sure that I buy store brand items instead of name brands; you would be surprised how much you can save this way. The way I save with my utilities is making sure that no...