Budgeting Tips: How Lazy People Can Manage Their Finances


Budgeting refers to the efficient planning and implementation of one’s financial resources. At micro-economic level, budgeting implies to the use of money management tools in order to derive the monthly amount required to pay for the basic needs and to live a comfortable life. Moreover, it has another dimension to it and that is, how to improve one’s financial health. However, a good number of people fail to create a budget out of laziness that culminates into lifelong misery. So, for these people this article has been composed to help them manage their finances efficiently.

 Budgeting tips for lazy people

 Budgeting tips for the lazy people have been discussed below:

 Incomes – One has to keep a record of all the sources of income. This applies to self-employed people as well. Many a times, income tax is automatically deducted from an individual’s paycheck; in that case it is absolutely fine to use them all at once. However, they need add up all the incomes and keep them well-documented to be used while preparing the annual tax returns.

Insurance – Being adequately covered is very important step towards securing one’s financial future. This is an integral part of budgeting at the moment. One may opt to keep basic insurance policies like health, auto, home and the likes that can act as the financial support during emergencies. However, before buying any insurance policy, one should understand how insurance is important for them.

Financial statements – It is very important to keep all the financial documents well-organized. Documents like investment accounts, bank statements, current utility bills, insurance policies, medical bills and so on for a better understanding of the monthly expenses and incomes. So, it is best keep a median expense amount and gather as much information as possible related to that.

Overall financial resources – For lazy people, it is extremely important to calculate their overall income and expenses. If they have extra amount left out after calculating all their monthly expenses, then they are in good health financially. In this case, they can list all the expenses in order of their importance. All the extra income can be accumulated in to a savings or checking account.

However, if a person finds that his expenses are more than what he earns, then he needs to cut down on bad expenses and stick to the budget with utmost care. Moreover, one must avoid using too many credit cards all at once.