Managing a Tight Budget


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controlling20the20budget

Excellent bookkeeping and Accounting skills are mandatory if you want to balance your budget after retiring.  The thing is, that your revenues are drastically reduced a jolting forty percent.  And besides that, there are no further revenue increases due to the cost of living adjustments (COLA).  Inflation keeps nibbling at your meager income and there is nothing you can do about it.

I have been a Comptroller, Auditor, and Accountant all my life, and at the end of my life, I have to use all the tricks of the trade to make ends meet.  As they say, “every cents counts”, and in a big way.

Good Day!

5 thoughts on “Managing a Tight Budget”

  1. Hola Omar,
    the only math class that I flunked in school was accounting math! I could never get concepts like ROI, PV, P&L statements. By the time they got to the double entry accounting I was so confused I gave up. Computer spreadsheets were a gift for accountants in making their math easier but like all tools, if you don’t understand the concept it is like a caveman with a sewing machine. My hat is off to anyone who can keep all that learning from leaking out of their ears, I will stay with engineering math where I can see what I am calculating. Just doing my simple income tax each year will put me into a coma. 🙂

    1. Hola Jim y Nena:

      I’ve heard comments like yours before. My wife is one of them. I’m the one responsible for our finances. Accounting has sunk into my intellectual system I can do it while I’m asleep. Return on Investment (ROI), Present Value (PV), Balance Sheets, and Profit and Loss Statements (P&L) are music to my ears. But that is in my past. Now I’m trying to learn new words, like “Rule of Thirds”, “Hard Light”, “Diffused Light”, “Depth of Field (DOF) “, “Automatic Focusing (AF)”, etc. It is not an easy task, but I’m a stubborn man, and I know it will become natural to me sometime, someday.

      Engineering Math—no way Jose. I almost flunk College Algebra and Calculus. All that I learned has been forgotten—gone forever. I tip my hat to you, my friend. 🙂

      1. When the camera gets out of the way it will all come to you just like an image snaps into focus on an AF camera Omar. Trust me “Grasshopper” (Kung Fu) 😁

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