Rodriguez Mo

Dr. Mo Rodriguez Shares Budget Advice with U.S. News & World Report

When planning a budget, Rodriguez tells U.S. News readers to avoid mistakes such as making it too strict or not budgeting for emergencies.

January 07,  2015

By Elaine Cole

In a story about budgeting blunders, U.S. News & World Report writer Geoff Williams called on Finance/Real Estate Professor Mo Rodriguez, chair of the finance department, for suggestions on how to avoid money woes, such as setting realistic goals.

In the U.S. News article, “5 Budgeting Blunders That Hurt Your Finances,” Rodriguez says that eliminating expenses such as entertainment is a common mistake. Even if you think going to a movie or dining out shouldn’t be in your budget, set aside for the possibility.

“You’ll probably end up doing something extra anyway,” he says, so put it in the budget ahead of time to avoid trouble.

Most importantly, he recommends that people put aside money every month for possible car repairs or medical costs.

“Such expenses will occur and can cause trouble if not accounted for,” he says.

Read the full article at http://money.usnews.com/money/personal-finance/articles/2014/12/24/5-budgeting-blunders-that-hurt-your-finances.