We tend to start with lofty goals but can sometimes end up disappointed when we fall short. So instead of trying to do a total overhaul of your finances, let’s start small first.
If you have a 401K, good for you, now increase your contributions by just ONE percent. That’s all it takes but you’ll be pleasantly surprised that 1% can go a long way.
Decrease your spending in TWO categories. Maybe cut out that expensive treat at the grocery store. Only eat out once a week instead of twice. You’ll find out by the end of the year there’s extra money in your account towards savings or a vacation.
If you have credit card debt with an interest attached, make a THREE percent increase on debt payments. This deceases the interest and will pay off your debt much faster. Or the best advice – pay off your credit cards balances in full every month and think about how all that interest you were once paying is now available to you for something else.
YOU DO or my name isn’t Frank Money! If you find yourself short on money at the end of month and need to go further into debt because of lack of planning, then you have Budget Trouble, my friend.
There are tons of budget plans out there to help keep you on a straight path so find the one you’re certain to stick with and get to it. How much did you make that month and how much did you spend that month? You’ll have your answer, adjust accordingly and bingo, you have a BUDGET!
Frank Money here – I find that Money is never around when you need it…and you never need it when it’s around. Understanding your spending and savings with a budget is the best way to get control of your money!
It’s time for Budget-Mania! Where everyone can learn about keeping a budget for their spending and saving. After all, if you don’t have a plan then good-bye budget and hello chaos!
Click here and download this PDF form to be on your way to your first budget!
As you can see by this form it’s really quite simple, but like everything else in life, you got to stick with it in order to succeed. It’s a game of pluses and minuses. Income, such as your take home pay from your job, is a plus. Your parents give you money for your birthday, plus. As for the minuses, that’s all of your expenses from car repairs to your monthly rent, from paying your health insurance to shopping for groceries.
Add up all of your expenses and subtract it from your income and you are well on your way to winning at Budget-Mania! That’s because you have a plan and that information will help keep you out of spiraling debt.
As my old friend Ben Franklin always said, “An investment in knowledge pays the best interest”.