I haven't visited budget basics lately, and I think it's time to take a step back and go there again.

Budget basics can be thought of in 2 different ways. Planning and surviving.

If you are in planning mode a budget takes you through a journey into how much money you make and how much you CHOOSE to spend. You can allot a percentage to housing, transportation, food, medical, entertainment, etc. Your in good shape here. You are in control of your financial future. Enjoy the freedom and relief that comes from this. Use this time to really plan dream about the future. You can make anything a reality!

If you are in survival budgeting you list your exact expenses, then list your income and you either smile or cry! After that it's action time. My budgeting plan says to tackle every bill or expense one at a time and either cancel it (if you can) or somehow reduce it. Asking for a discount in the interest rate or service works. Whatever it takes. If it means renting out a room in your house to taking any and all odd jobs, do it.

Some people will find that they start in survival budgeting and end up in planning budgeting. By reducing expenses and increasing income you can get back on track.

Money trouble shock is a common accurance in a down economy. You might feel desperate, stuck, and ill when it all catches up to you and you realize just how bad it all is. Don't go into shock. Do everything you can to keep on going. When you get through this period your only regret will be why you didn't start recovering earlier.

Do whatever it takes to get through the day. Make a list of what you have to get done and what you should get done to better your situation. Sometimes it helps to have someone else directing you towards a better future, and your list can be this "person". Be sure to get sleep so that your awake hours are as productive as possible. Don't give up. Nothing is forever.

I think everyone needs to visit budgeting basics at least once a year just to make sure that you are on the road that you want to be, if not regroup and take a new road!

My backyard. Well maybe not exactly in my back yard... but too close. This whole economy has taken a big step in the wrong direction. Anyone who thinks that it's not that bad must live in a shell on a far away island. Restaurants are closing, food is becoming more expensive and gas... don't get me started!

I actually sold my car and got one with better gas milage. Not only is my monthly payment 1/3 less but I can use regular gas instead of premium too. I love it!

Walking through the grocery store was a reminder of how great coupons are. It is definately hard to find the time to use coupons when you are working, being a parent and just living life, but they are too great to pass up. There's nothing like the feeling of getting something for a huge discount, or free, especially when it's food. I remember when I started using coupons, I'd have family over and they thought I was the biggest money waster because I always had all of the newly released convenience foods and normally multiples of them... finally someone actually asked me about it and I explained that the best coupons were for new products and that I used them at a store that doubles the coupon and it was all free!

Even when I don't have the time to use coupons as I should I still shop the loss leaders, spagetti sauce for $1, pasta for .33, yes, I'm there loading up!

Hope you all are hanging in there. I think we're in for a ride with the real estate market, gas and food for a while... and yes the stock market too! Remember to call up you creditors and ask for a lower interest rate and also remember that nothing last forever!

Yahoo News Agrees with me! Or should I say I agree with them?

Finally a news agency is "seeing" what I have been. We're in a recession in certain geographic areas. The Yahoo News Article pretty much sums it up. (There's a link on my website to this article.)

What does this mean to you? Maybe something, hopefully nothing!

If you live in an area that you feel is in a recession, regardless if one has been officially called, take steps immediately to mediate your future losses. I have guides to surviving and thriving in a recession on my website at www.noexcusebudget.com

If your area has not been hit beef up your emergency fund just in case it does hit your area. Best case scenario you won't need the extra money and you just increased your savings. Worst case scenario you are prepared.

There are lots of ways to take advantage of a down economy... start thinking now.

As a Real Estate Professional and someone who is passionate about personal finance I also recognize that a persons house is very important to them (duh) and that there can be ways to avoid foreclosure. So along with the change to the No Excuse Budget to reflect the new economy we are all facing, I'm going to be adding a whole section on saving your house, and surviving a foreclosure. It's not a pretty subject but it needs to be discussed. Those crippled in the fear of financial troubles need an advocate and I'll be offering help with loan modifications, shortage sales and deed in lieu of foreclosure and foreclosure.

A special thanks to everyone that emailed me their stories of financial success and links to their bloggs... it'll make the No Excuse Budget even better! I can't wait to unveil the new website in the near future!

As I go about my day to day life I find myself constantly being reminded about the down turn in our economy. I never want to be the person that is constantly screaming "the sky is falling", but at the same time I feel like I owe it to the people who are facing the really tough times to know that they are not alone and that there is a problem. On the other hand I want to take my lead from Paul Revere and warn everyone that the recession could be coming to their area (if it's not already there) and that there is still time to save themselves.

Yesterday I had another "ah ha" moment when the local San Diego news said that 1 out of every 74 homes was in some sort of foreclosure. That is crazy!
The reality is that we are far from the end of this. My best guess is that we have another 2-3 years, at least, of the down market. I've said it before, banks need to get more realistic. Homeowners that can and want to stay in their homes should be given any and all assistance to make this happen. This is absolutely necessary. Banks can't even keep up with all the short sale, loan modification and deed in lou of requests. They can't even keep up on all the bank owned properties they have. If the goal is to get the housing market back on a normal healthy track than these foreclosures need to stop, and soon. We don't need another boom like we saw a few years ago, we just need people to be able to sell their homes when they need to move, first time buyers need affordable housing and move up buyers that can afford a larger payment need loans available to them.

This whole mess has humbled me. It can happen to anyone. Even if you have the best safety net and plan B, life can come at you hard. As I get older I realize that everything I thought I new I didn't really know and I also learn that I have alot to learn.

I'm trying to spend as much time on updating my website to reflect the economy and housing market which leaves little to no time on blogging. I really enjoy the blogging so I'll be back!

Hope you all are doing well! Has anyone received their simulus checks yet? How are you going to use it?