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Budgeting Tips

Creating a Budget that works for your EXPENSES

Never get overwhelmed about creating a budget again.

There are so many resources that you can use, i.e. spreadsheets, notepad, monthly reminders in your phone.

Budgeting helps you spend less than you earn.

The following tips will help you create a successful budget:

· Understand the reason why you are budgeting (see the future)

· Also, take notes on your short term goals

· Be realistic

· Track your monthly spend including bills and other expenses (leisure activities)

· Write down what your monthly take-home pay will be for the next 12 months

· Write down your highest most important bills first

· Expenses that can eliminated, eliminate them

· Keep and view your receipts (that sales tax you pay can be refund on your 2019 tax return)

· If you are married, work with your spouse on the budgeting tool of your choice

· 50/20/30 budget rule - spending 50% on needs and 30% on wants while saving 20%

· Use excel or budgeting tools provided by your bank

· Give yourself grace and don’t quit

Example of budget:

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