Login To Your Account

1-800-982-8445

Financial Freedom Community

This site is a resource for Financial Education, Debt Solutions and Tools to assist with Credit Management. All the resources on this site are free of charge. We encourage visitor feedback, Tell us what you want to see more of! Sign up for news & updates and we'll keep you posted on the latest!


Navigation

Home
Bankruptcy
Community Resources
Consumer Protection
Employment Resources
Financial Assistance
Health and Human Services
National Resources
Seniors Resource Center
Tax Resources
Getting Ready to FIle Your Federal Tax Return
Transcript - Getting Ready to FIle Your Federal Tax Return
Info Graphic - Getting Ready to FIle Your Federal Tax Return
The Importance of filing your Tax Return or Tax Extension on Time
Transcript - The Importance of filing your Tax Return or Tax Extension on Time
Info Graph - The Importance of filing your Tax Return or Tax Extension on Time
Most Common Tax Filing Errors
Transcript - Most Common Tax Filing Errors
Info Graphic - Most Common Tax Filing Errors
Owing Money To The IRS
Transcript - Owing Money To The IRS
Info Graphic - Owing Money To The IRS
What to do with your tax refund
Transcript - What to do with your tax refund
Info Graphic - What to do with your tax refund
Consumer Personal Loans
Credit Card Debt
Advantages of Making Credit Card Debt Payments on Time and Other Tips
Avoiding Credit Card Traps
Credit Card Counseling - Learn Credit Management Tips
Credit Card Debt and Simple Ways to Consolidate Them
Credit Card Debt Consolidation Nationwide Epidemic
Credit Card Debt Consolidation Solutions
Credit Card Debt Help for Senior Citizens
Credit Card Debt Reduction
Credit Card Debt Solutions That Can Help
How to Pay Your Way Out of Credit Card Debt
Paying Off Your Holiday Credit Card Debt
Prevent Identity Theft With a Credit Freeze
Saving Money on Your Credit Card Bills
Terminate Credit Card Debt Without Consolidation
Tips on Credit Cards, Part 1
Credit Collection Laws
Credit Repair Organizations Act
Fair And Accurate Credit Transaction Act
Fair Credit Billing
Fair Debt Collection Practices – Know Your Law
Statute of Limitations
The Fair Credit Reporting Act
The Fair Debt Collections Practices Act
The Truth In Lending Act
Credit Counseling
Can Consumer Credit Counseling Help Avoid Foreclosure
Credit Card Counseling
Credit Counseling a Must for Bankruptcy
Credit Counseling Benefits
Credit Counseling Can Reduce Your Debt
Difference Between Credit Counseling and Debt Settlement
Free Credit Counseling to Help Manage Your Debt
Using Credit and Debt Counseling to Manage Your Finances
What Can Credit Counseling Offer You?
What is Credit Counseling
What to Ask a Credit Counselor?
Credit Education
Balance Transfers -- Are they really free?
Transcript - Balance Transfers – Are they really free?
Info Graphic - Balance Transfers -- Are they really free?
Consumer's Rights
Establishing New Credit
Finance Charges
What Are Secured Credit Cards
Transcript - What Are Secured Credit Cards
Info Graphic - What Are Secured Credit Cards
Credit Reports and Scores
Credit Repair After Bankruptcy
Do you Know the Benefits of Checking your Credit Report?
2016 Understanding Consumer Credit Guide
DCC Educational PDFs
Debt Consolidation
4 Valuable Tips on Debt Consolidation
Become Debt Free With Financial Advice
Benefits of Debt Consolidation
Bill Consolidation Loans
Bill Consolidation Advice to Help With Debt
Credit Consolidation: Is It Worth Taking?
Debt consolidation and Ways to Avoid Scams
Debt Consolidation Explained - What Happens if You Don't Pay?
Debt Consolidation Loans
Debt Consolidation Loans for Payday Loan Debt
Debt Consolidation Non-Profit
Debt Consolidation Now Will Improve Your Credit Score Later
Debt Consolidation Provides Relief from Financial Stress
Debt Consolidation Services Helps to Clear Debts
Debt Consolidation – Find Relief To Your Financial Stress
Debt Management Program
Debt Management Program Will Ease Debt Burden
Do You Need Debt Consolidation?
Get a Debt Consolidation Loan to Manage Bad Debts
Government Debt Consolidation Loans
Government Debt Consolidation Loans for Student Loans
How to Consolidate - Debt Help - Consolidate Your Debt Payments
How to Consolidate Bills Effectively When Left in Debt
How to Consolidate Debt
Let the government help you consolidate your debts
The Advantages of Credit Consolidation
Understanding Debt Consolidation Loans
Debt Girls
About The Girls
Debt Settlement
Debt Settlement Scams
Info Graphic - Debt Settlment Scams
Transcript - Debt Settlement Scams
Elderly Can Benefit from Debt Settlement
Financial Tools & Calculators
Bill Reminder Tool
Bill Reminder User Guide
Calculators
Car Loan Calculator
College Savings Calculator
Credit Card Payoff Calculator
Mortgage Loan Payment Calculator
Retirement Calculator
Savings Calculator
Loan Modification Guide - Do It Yourself
Frequently Asked Questions
Step 1: Prepare yourself
Step 2 Gather the necessary documents
Step 3 Know what to expect
Step 4 Contact your lender
Step 5 Review your loan-modification plan
Step 6 Finalize the approval and begin making payments
Phone Apps
Home Buying
Build or Buy a Home
Choosing a Real Estate Agent
Home Equity Interest Rate Charges
Home Equity Line of Credit
Home Equity Loan Fees
Lease Buy Backs
Transcripts - Lease Buy Backs
Info Graphic - Lease Buy Backs
Managing Your Mortgage
Mortgage Basics
Mortgage Debt Elimination, 3 Things You Must Know
Quick Guide to Loan Modification
Transcript - Quick Guide to Loan Modification
Info Graphic - Quick Guide to Loan Modification
Real Estate Laws
Refinancing
Renting vs Owning
Interesting Money Articles
12 Amazing Facts about Credit Card Debt
12 More Interesting Facts About Money – Part 2
24 Amazing Pictures of Money
Introduction To Budgeting
7 Steps to Successful Budgeting
All You Need to Know About Budget Basics
Basics of Personal Budgeting
Budgeting - How Much?
Debt Management and Prevention Using a Budget
How to Pay Off Debt – Start Budgeting
Maintaining and Budget Planning
Manage Your Debt by Learning How to Budget
The Basics of Budgeting
Transcript - The Basics Of Budgeting
Info Graphic - The Basics of Budgeting
The Importance of a Household Budget
Managing Debt
1 in 10 Having Wages Garnished
Advanced Fees For Unsecured Loans
Info Graphic - Advanced Fees For Unsecured Loans
Transcript - Advanced Fees For Unsecured Loans
Debt Relief The Issue of Forgiveness
Get Out of Debt by Changing Your Financial Habits
Personal Finance Management to Reduce Debt
Start Early Teaching Kids Money Management and Savings
Saving Money
Banking & Credit
Energy Saving Tips
Info Graphic - Energy Saving Tips
Transcripts - Energy Saving Tips
Enjoy the Holidays Without Breaking the Bank
Info Graphic - Enjoy the Holidays Without Breaking the Bank
Transcript - Enjoy the Holidays Without Breaking the Bank
How 'Charge Offs' Effect You
Insurance & Housing
Money Management Means Setting Goals
PREPARING YOUR BUDGET FOR A WORSE CASE SCENARIO
Save Money When going to work
Spendaholic
Transportation Savings
Utilities and Savings
What Debt Should You Pay First?
Young Couple Finances
Student Loan Debt
Student Loan Default Penalties
Consolidate Student Loans
Student Aid
Student Loan Tips for Recent Graduates
Student Loans and the Credit Squeeze
Types Of Debts
Auto Loan Prepayment Penalties
Balance Transfers
Credit Card Minimum Payments
Gambling Debt Problem Gambling and Bankruptcy Connection
Holiday Credit Card Debt
Ideas To Save
Inherited Debts?
Six Easily Avoidable Causes of Debt
Ways to Pay Off Holiday Debts
Video Library
Personal Finance Video library
Tax Tips Video library

Free Consultation




McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

Latest Headlines

Latest Infographics

Most Popular Articles

The Importance of a Household Budget

A proper household budget is extremely important in our lives and its absence could lead to many financial problems.
Why a household budget is important
 
A well-made, proper household budget has a great impact on our financial lives. If we do not have one, we may have to face financial problems of various kinds. A household budget is all the more important in this consumer era because it teaches members of the family the worth of money. It is, indeed, an important cog in the wheel that runs a house.
Contrary to what many people tend to believe, creating a household budget is an uncomplicated process, even as simple as noting down each expense and keeping track of it for a month.
 
Benefits of household budget
 
A household budget helps you to identify the areas in which you spend, and take necessary steps to curtail expenditure on those items that are non-essential and unnecessary. Household expenses often spiral out of control because we have no idea about how the family’s total outgoings are created. Once a household budget is in place, it becomes much easier to bring things under control. It can also teach younger members of the family the importance of money, so that they stop wasting money on unnecessary things. They can utilize this knowledge when they grow up and start their own families.
 
Preparation for rainy days
 
Another important benefit of a household budget is that it can alert you against possible cash flow problems in the future. For example, it will let you know if you have more direct debits from your bank account than your wage can cover. And once alerted, you can then take some necessary measures, such as seeking a small loan or overdraft facility to cover the deficit or get in touch with the concerned companies regarding the direct debits so that you can change your payment plans. As a household budget also gives you a clear picture of the money which is coming into the house, you can then try to increase it in various ways that suit you – like finding a better job, seeking a pay rise, or starting a small new business
 
Affordable credit limit
 

The most important benefit of a household budget is that it gives you an idea of how much credit you are in a position to take on without landing in serious debt problems. Those who do not follow a household budget often find themselves in a debt trap, making extravagant purchases on credit without knowing where the money will finally come from. Last but not the least, making a household budget is a good habit that helps a family to run in a smooth manner.

 

Free Budget Worksheet

Keep track of your incoming money and expenses. Knowing where your money is going is the first step to managing and staying our of debt.

McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams