Comfortable Budgeting

Money management begins by setting specific goals. By doing this you gain control of your finances and by sticking to a budget that reflects your goals, you can save money.

We have come up with tips and strategies to help you on your way to a comfortable budget.

Getting Organized

  • Start simply by listing your monthly expenses: begin with your fixed expenses like rent/mortgage and utilities, then list expenses that are more flexible like food, transportation and entertainment
  • Track what you spend for 30 days, and keep receipts and a list of what you spend and where
  • Make notes about bills (fixed expenses) you have paid and when
  • After 30 days, take a look at where your money goes…
  • Are there ways to adjust your budget?
  • Was there anything that surprised you?
  • Were you spending more or less than you thought you were?

After these considerations, make adjustments to your budget that suit your needs. Create a filing system that allows you to continue to track your fixed and flexible expenses easily: a simple shoe box will do!

Budget Friendly Tips!

  • Keep track of when you spend cash and on what items
  • Using a calendar note when your bills are due
  • Keep cash in a labelled envelope for flexible expenses: only use cash for flexible expenses
  • Pay your bills on time
  • Look over your budget monthly
  • Look for simple ways to spend less

Save!

  • Open a savings account
  • Decide on a dollar amount you want to put aside every month
  • Chose an account that is right for you
  • Ask questions
  • Limit access to savings account with a Debit Card; use deposit only accounts
  • Remember every little bit counts!
  • Plan ahead

 

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