Scambook Warns of 4 Reasons Personal Budgets Can Fail Consumers
Los Angeles, CA (PRWEB) July 30, 2013 -- During the time of year when spending can become frivolous due to the hype of summer activities, consumers need to watch their personal budgets with a closer eye. Scambook, the Internet’s leading online complaint resolution platform, understands the difficulty with saving cash and managing limited expenses for financial security but stresses the necessity of sustaining a personal budget.
“Many consumers have misconceptions about spending and saving money during the summer. Many college students, for example, are just getting on their feet this time of year as they’re getting their first jobs, “ says Scambook’s Director of Marketing Kase Chong. “As the leading consumer advocacy platform, we see it as our duty to educate the public about those warning signs and situations when personal budgets may start to fall short.”
The following are four reasons to watch out for excessive spending or other destructive habits that can deplete personal budgets:
1. All Work and No Play: An important aspect of budgeting is saving just enough to have some spending money for enjoyable activities and relaxation. This doesn’t mean to ignore all self-control, but to live a healthy lifestyle that allows individuals to stay on budget. Entertainment and relaxation need not be cut out completely.
2. Not Every Expense is Recurring: Consumers often account for those recurring expenses such as rent, utilities, and insurance while forgetting to budget for those non-recurring but crucial payments such as car repairs, medical bills, or home improvement costs. Make sure to set aside money to take care of such problems should they arise.
3. Expectations are Too High: Setting goals for personal finances are part of learning to budget, but individuals just learning to budget should not get overly frustrated. Give five to six months to make the transition to these new finances as this budget will more accurately portray an estimate of lifestyle and money expectations.
4. Tools Can be Hurtful: Tracking tools can be more disadvantageous than beneficial if the wrong tools are used. Measuring a budget is different for everyone and whether using a service such as Mint.com, a smartphone app, or simply a pen and paper, individuals will have better success tracking their budget with a system that fits their unique needs.
Scambook recommends sharing these scenarios with those who may be struggling with budgeting. For more information, visit http://www.Scambook.com/blog.
ABOUT SCAMBOOK
Scambook is an online complaint resolution platform dedicated to obtaining justice for victims of fraud with unprecedented speed and accuracy. By building communities and providing resources on the latest scams, Scambook arms consumers with the up-to-date information they need to stay on top of emerging schemes. Since its inception, Scambook has resolved over $10 million in reported consumer damages. For more information, visit scambook.com.
Judy Dixon, PMBC Group, +1 (310) 777-7546, [email protected]
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