Avoid financial trouble with budgeting

Avoid financial trouble with budgeting

Stood up? Next time talk about your budgeting skills.

Avoid getting into financial trouble by managing your money and creating a budget.

Here’s how to do it:

1. Track your expenses so you know where money is being spent. Even small items add up over time.
2. Determine your short term and long term goals and work them into your budget. Identify goals, and include retirement savings and being debt free.
3. Divide expenses into needs and wants. Categorize your expenses so you can pay down debts and increase saving. Ex. Need – food,  electricity, power, clothes. Want – concert tickets, designer clothes.
4. Stick to your budget. Record progress to make sure you stay on track.