Budgeting will Build Your Future

The word “budget” can conjure a dreary image of scrimping and sacrificing, so many people avoid the subject altogether. But creating and following a budget can help you to have the money for things you want.

Make a list of all the items, large and small, that you need or would like to have but don’t think you can afford. Many of them may be within reach if you budget well. Think of creating a budget as a financial strategy for your dreams. Doesn’t that sound more appealing—and more manageable?

Your budget is a tool you will enjoy to build your future.

Congratulations on taking the first step. These are the three most important keys to having a successful budget that really works:

1. Make realistic goals you can keep
Don’t put down $0 for entertainment expenses if you know you are going to spend more than that. Be honest with yourself.

2. Learn new ways to manage your money
There are many ways to save money, get better credit, and make your money grow. Here are some tips for how to get started.

3. Maintain your budget
Creating a budget is just the start. The only way it will work is if you remember to update your expenses and make changes during the month to make sure you stay on track.

Getting Started:

The best way to make a budget for the future is to figure out how you spend your money now. First, look at where your money comes from and where it goes. Track all of your income and expenses for a month or two before creating your budget. You'll need to keep track of all of your purchases - from a cup of coffee to movie tickets - by writing them down in a notebook or holding on to receipts.

Write down how much you spend in each category every month. Don't forget to include money that you save each month to help you meet your future goals. Be realistic about your budget, so that it's easy for you to follow.

Create your budget now.

Glen :-)