Budgeting help — the best way is the way that works for you

There’s no one right way to budget. That’s because budgeting is really about finding the process that works for you.

To start, just imagine your budget has two parts:

• Money comes in.

• Money goes out.

Is your money going to pay the rent or the mortgage? Utilities? Food? Clothing? Lattes? Take a few moments to see where your money is going, and write it down.

If more money is going out than coming in, see if there are places where you can cut back a little.

Don’t go 0 to 60 when making changes to your budget or spending habits. You’re more likely to succeed by taking small steps toward a change.

Simple starting today tips to stick to a budget

• Set a weekly budget, starting on Monday. When the money you allotted for the week is gone, you’re done spending for the week. This can help you be more selective during the week when choosing what to spend at events, for meals, or a quick coffee, you name it.

• Try the zero dollar a day challenge. How many days in a month can you spend zero dollars? Keeping track of your progress can help you see how well you’re doing, and keep you motivated. Though there are certainly days when not spending isn’t an option. And that’s okay.

Now that you’ve got a way to budget that works for you, you’ve taken a really important step towards building a solid financial future. You’re on your way!

Next, see what managing your credit is all about, and find some really simple tips on “How to improve your credit score. (https://www.statefarm.com/simple-insights/smartideas/ how-to-improve-your-credit-score)”

Disclosures

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