European Stars And Stripes (Newspaper) - October 24, 1986, Darmstadt, Hesse                                Gazing budgeting know what you spend stories by Bob Hoyer staff writer budgeting could be the answer to your Money problems most financial Counselor say effective Money management is impossible without a budget. Yet. Wilh rare exceptions they say military members Wilh debt problems fail to budget. Or they budget so inaccurately that they deceive themselves Counselor recommend budgeting for service members in All pay grades even if the objective is just to save More Money. For families in financial rouble. They regard the budget As indispensable. For those mired in Deb the single Grea Lesl problem is failure to calculate the Impact of today s spending on tomorrow s budget says Carol Bachmann army Community services Counselor at Robinson Barracks in Stuttgart in Frankfurt Robert Carter an Independent financial Counselor tells clients to keep a detailed record of All expenses. This is the first and most important step in budgeting knowing what you spend Carter says Jean Matthews executive director of the Navy Relief society in Naples regards budget counselling As our most important  simple As it sounds budgeting scares people who Are turned Olf by record keeping. But if expenses Are ignored or understated the budget won1 work. One Way to gel started. Bachmann says is to list expenses in three categories fixed monthly expenses. Includes such items As rent Aulo insurance and loan payments. Fluctuating expenses. Food consumed at Home and away from Home daily out of pocket expenses for snacks magazines newspapers transp orillion costs train or bus fares gasoline for the car babysitting clothing incidentals. Annual expenses includes estimated costs of maintaining the car medical Bills not covered 6y insurance moving costs annual me insurance premiums. The budget Only works As Long As you keep accurate  Bachmann cautions. If you grossly underestimate car repairs you re just fooling  she Points out thai Large families May run up much higher daily expenses than realized. She cited the Case of a Amity that estimated food expenses 1650 a month lower Mian actual costs Only after individual family members began keeping careful records was the error corrected. Bachmann recommends thai a daily expense record be Kepi by each member of a family spending Money  Barber and Boa ulv shop expenses clothing and appliance purchases laundry dry cleaning Telephone and Utility Bills All must be Laker into account. At the army Community in Giessen. Counselor Uso a budget formal that lists Tola family income local allotments deductions and taxes and local living expenses where share is no Money Lell after expenses arc deducted irom Lake Home pay and other earnings. Budgets must be pruned. Our Counselor Tell clients to reduce debt by disposing of something they Don t need.1 said i. Col. Mel Stinnett comptroller of the 50lh tac fighter Winga thanab. A an example gelling rid of the second car May be an effective Way to Cut  cancelling an Una needed insurance policy May be another Way to reduce expenses. Giessen Counselor have seen families Wilh High insurance afro Lientu. In some cases two and three policies were involved. If the Servio member has servicemen s group Ufa insurance an inexpensive term policy May be All the additional insurance needed to adequately cover the family. Carter says a great Deal of Money is wasted. We can Ell save Money by tightening our Bells to Points out a import met to know to much Money is spent at the bar How much goes into Slot machines How much is spent on Magazine  Carter says those in continuing financial trouble might want to consider a change of priorities. It might be helpful to think about How Many hours you have to work to buy a a or item such As star90 or video equipment or a new car Carter said. Then let this sink in and you May not be so i dined to make the Purchase if it s an item you can get along without Bachmann stresses the importance or not making the budget too spartan. You have to Deal with your  she said. Above All budgeting should not be a constrictive exercise. Developing an effective budget should be  Friday october. 1988 the stars and stripes a Solo 13