5 Easy Steps to Getting Your Budget in Shape
The start of the New Year represents a clean slate for many of us. It’s a second chance to learn from our mistakes, and regain control. When you are in control of your money you gain peace of mind, security, and ultimate freedom.
Let’s start your journey with getting your budget in shape. Here are five easy steps:
1. Schedule time: Schedule time to meet with your significant other, family, or an accountability partner. Their support will help you get through the initial frustrations of starting your budget.
2. Determine your income: How much do you make a month? If you’re married include both incomes.
3. Determine your expenses: Collect all your receipts and bank statements. It’s time to categorize and start adding. Categories can include phone, vacation, utilities, rent, car payment, etc. Do not forget the small unexpected line items. These include kids’ sports, kids’ school supplies or birthday gifts.
4. Write the numbers down: As you begin calculating your expenses, write them down on paper or spreadsheet. Through this process, you will begin to realize where your money is going.
5. Repeat: Doing a budget is about consistency. No two months will look alike. So set a date for next month and do it all over!
Free Budget Spreadsheet: https://www.consumer.gov/sites/default/files/pdf-1020-make-budget-worksheet_form.pdf
Advisory services are offered through Allgen Financial Advisors, Inc., a registered investment advisor.
Any information provided in the blog has been prepared from sources believed to be reliable, but is not guaranteed by Allgen Financial Advisors, Inc. and is not a complete summary or statement of all available data necessary for making an investment decision. Any information provided is for informational purposes only and does not constitute a recommendation. Allgen Financial Advisors, Inc. and its employees may own options, rights, or warrants to purchase any of the securities mentioned in this e-mail. This e-mail is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this message in error, please contact the sender immediately and delete the material from your computer.
