Budget for Retirement Without Sweat or Stress

(NewsUSA) - For many people, "personal budget" sounds like an avoidable phrase. But as gas prices, food costs and energy bills skyrocket, those Americans living paycheck-to-paycheck might find themselves in financial trouble.

Starting or readjusting a budget doesn't have to mean intensive labor or a bare-bones lifestyle. Beginning a budget simply requires paper and a pen.

In a notebook or on a budget sheet, people create two columns. In one column, they total incoming funds from paychecks or gifts. In the second column, people track their expenses - grocery bills, loan payments, rents, lattes, birthday gifts and movie rentals.

After a few weeks tracking their cash flow, people might better understand their spending patterns. Understanding can lead to adjustment. If bread and grain prices create greater costs at the grocery store, people can make up the difference by spending less on clothing. Perhaps buying store-brand, rather than name-brand, products can help drivers offset the price of their commutes.

People with money left after paying their bills can claim a positive cash flow, then put extra money towards important future goals, like retirement. But those people breaking even can't afford to ignore retirement, either.

In tough economic times, many people put saving money out of mind. But saving small amounts earlier creates more funds than putting away larger sums later in life.

One service, SAVE252 (www.SAVE252.com), allows users to put away as little as a dollar a day, 252 days a year, towards retirement. The user determines a set amount of money, which SAVE252 will automatically remove from their checking account, then move into a savings account or IRA.

People remain in complete control of their savings. They can increase, decrease or defer their payments at any time.

After creating and evaluating their budget, people will no doubt find ways to cut a dollar or two from their expenses -; they might brew their own coffee, have one fewer cocktail after work or eat at home one more day a week.