Dallas, TX (PRWEB) August 25, 2006
Precept Financial shares a most valuable ingredient in making a workable, sustainable budget: built-in goal setting, along with five guidelines to effective goal setting in budgets.
Commonly, budgeting focuses heavily on bill paying. The ultimate litmus test of whether a personal, family or business budget is workable is: Does the budget enable the person, family, or business to achieve their goals?
“Goal-setting is central to budgeting, because doing what one wants is both the most gratifying, and the most instilling of a desire to adhere,” says Russell Yarbrough, Managing Director of Precept Financial, a company that helps consumers and businesses deal with credit card debt. See http://www.preceptfinancial.com .
According to Yarbrough, there are five main factors to effective goal setting:
1) Represent all interests - For individuals, fun, work and personal growth interests are covered. For families, involvement of each member instills commitment and motivation. For businesses, cross-departmental representation enables greater accuracy as well as commitment.
2) Cover natural time cycles - Daily, weekly, monthly, seasonally, annually and long-term goals comprise the base of any practical personal, family or business budget.
3) Maintain morale - Balance, breaks, or time for building good spirit cannot be cut out of personal, family or even business on a regular basis. Fun can be achieved at lower prices. For a list of lower cost “comfort activities” see http://www.preceptfinancial.com/press_releases.htm under Resources.
4) Monitor progress - Review whether goals are being met, people are feeling comfortable, and the budget is working regularly. For individuals and families, a weekly review is suggested at the beginning.
5) Build in flexibility for improvement, change and surprise - For a list of five key ways to maintain budget flexibility to best meet desired goals, see http://www.preceptfinancial.com/press_releases.htm under Resources.
“A budget that covers bills, a buffer for emergencies, and enables achievement of goals, motivates sticking to the budget, and is more rewarding,” says Yarbrough. “Precept Financial is sharing our list of low cost “comfort activities” and key ways to keep budgets flexible, to help people and businesses avoid, get out, and stay out of troublesome debt.”
Precept Financial is a leading debt assistance company dedicated to helping consumers and businesses with financial hardship in resolving unsecured debt. Precept Financial works with creditors and collections agencies on the client’s behalf, to help find mutually agreeable solutions. By providing an effective alternative to financial hardship, Precept Financial provides a service for both debtors and creditors. Notable memberships include: The Association of Settlement Companies, Greater Dallas Chamber of Commerce, American Bankers Association, and the International Association of Professional Debt Arbitrators. Contact 1-800-866-4447 or visit http://www.preceptfinancial.com.
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