As You Budget...

The purpose for your budget is to make your money do what you want it to. Many people have given in to their desires and extended themselves beyond safety in money management. You simply can't budget and spend more than you have coming in.

Typical long-range goals are savings for college education for the children, paying for appropriate life insurance, a paid-off mortgage and sufficient funds for retirement.

Mid-range goals include furnishing the home, purchasing and maintaining an automobile and perhaps a special vacation. Shorter-range expenses are clothing, food, utilities and recreation.

You should make out your own list of goals — long-, medium- and short-range. But as you set down your goals and develop your budget, keep these points in mind:

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All goals must be based realistically on your projected income.
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Provide for the basics first, then the comforts, and finally the luxuries.
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Set up a plan for paying off debts already accumulated.
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Plan a savings scheme, no matter how small. Add to your savings as your old debts are reduced.
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Spend only based on your budget.
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Never give in to temptations to depart from the budget.