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Make Your Money Work For You!
by Scott Sumner
Copyright (c) 1999-2001, Scott A. Sumner


Now that you now where you stand with your money, can you do
better. The way to do this is to make a budget that will help you change
your financial course or direction.
Up to this point, you will have obtained a better understanding of your
current financial position. You will have identified  areas that need
improvement, and areas that need goal setting. Now the process to make
adjustments to your financial position begins.
The point now is to determine how and where  you want to spend your
money on a monthly basis. Do you think that  current allocations to
food, automotive or travel, for instance, are correct? It is now
absolutely critical at this stage to sit down with your family and
modify your expenditures  .You may have the need for a new automobile.
This could be accomplished by purchasing an automobile and financing it
through the dealership, requiring an additional payment of $250 per
month, for example. This type of information should be reviewed at this
stage to ensure that your budgeting and goals on target.
There are many ways to realize increased savings. For instance, by
purchasing your food in bulk, or during sales events, or with coupons,
you may save a significant amount of money every month. This could be
applied to savings for a holiday, for example.   All of these types of
questions must be looked at when doing a budget.
There is no question that budgeting and planning will augment your
financial life. It is my suggestion that you complete a monthly
financial budget, and follow this faithfully for a period of at least
one year, to ensure that you comprehend your own financial affairs.  You
can complete a budget chart similarl to what we did when we made a
financial snapshot of our current money position. See examples of this
on my website www.scottsumner.com The importance of completing these
charts on a monthly basis means that you become more familiarized with
doing the process, and will become better at making accurate
projections. Each time you manage to pay down loans, ,you build equity
in your home and assets. Therefore, by comparing the actual results that
you achieve, with the budget  you had previously plotted, you will be
able to zero in on your exact financial position. It is not necessary to
be absolutely accurate in every instance, but it definitely gives you a
better grasp of the direction you are heading.
If market values suddenly increase on your home, you should reflect this
in your balance sheet. Likewise, if real estate values  decline you
should also record it.  The calculation of  current outstanding amounts
in your loans is another issue that needs attention.
Next time see a financial summary list of what you should do to improve
your financial future

About The Author:
Scott Sumner grew up in Northwestern Ontario and is a graduate of
Lakehead University's
( Thunder Bay, Ontario Canada ) Honour Bachelor of Commerce Program as
well as York University's ( Toronto, Ontario Canada ) Master of
Business  Program. He founded North Superior Publishing Inc, a regional
specialty publishing company almost 20 years ago in 1982.  This company
has published 10 titles in the areas of real estate, business,
lifestyle, travel, golf, snowmobiling, automative and family. His book
Create An Exceptional Life: Mind, Body, Money can help you look at ways
to accomplish more in your life that you ever thought possible. It will
start you on a process of living your life to it's fullest potential.
Visit www.scottsumner.com