Atlanta CPA...Business and Personal Budgeting 

There are many time tested issues to help both business owners and individuals set up procedures to help limit unnecessary spending and to mitigate exposure to the financial impacts of the economy including:

Develop Spending Limits. Just as when you pull the trigger it is most impossible to stop, slow down or even change the direction of a speeding bullet, it is equally difficult to change the effects of a financial commitment once they are made. Accordingly it is wise to carefully consider and evaluate purchases, especially those over your defined spending limit, before a financial decision is reached. If you are married or have a business partner, it would be prudent to agree on a specified limit that is allowable to spend without the others consent, however, anything over that limit should be discussed before any expenditures are made. This limit should be as low as possible to both ensure agreement and to avoid any unnecessary expenditures.

There is no better tried and tested way for personal budgeting and financing. Use these spreadsheets again and again until it becomes second nature. If you are married pick a low number (I suggest $75 or less) that both of you have to agree on before a specific expenditure is incurred. Also always keep in mind that credit cards are never to be used as a financing vehicle but only as a tool, and should always be paid off in full whenever possible.

Recap of Cash Flow (Excel Spreadsheet) Available at at http://www.hiscpa.com/recession-finances.html
Monthly Variance Analysis (Excel Spreadsheet) Available at at http://www.hiscpa.com/recession-finances.html

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