Budgeting and life –
Many of us equate finances with a budget, to a dog on a leash. Sure, it’s fun to roam freely with your money but sooner or later we’re going to need to rein that puppy in. Our money without a budget is a problem waiting to happen. Therefore, we need boundaries for our money to keep things in check. Otherwise your finances will spin out of control. We all want to get rid of debt; and we all want more time in the day! How do we do this? We budget.
To get out of debt. One of the greatest inhibitors of paying off debt is not knowing where your money is going. In fact, having a budget for yourself will help keep you out of debt.
To make a habit of knowing where your money is going. Have you ever checked your credit card bill to find out you accidentally subscribed to something? What about being billed twice? Staying up to date on the state of your bank accounts is important.
Aim to keep fraudulent activity in check. Gas station fraud is common! Keep and eye on your accounts so you can report the unauthorized activity right away.
Make financial goals and track everything! What are your goals? To pay off credit card debt? To save for that trip your planning for or maybe a technology upgrade? Whatever it is write it down and attach a monetary value to it and put it on the bathroom mirror or someplace else where you’ll see it every day.
Additionally, if you want more in-depth discussion check with Clark Howard here: https://clark.com/commoncents/budgeting-101-step-step-guide-take-control-money/
In particular, smart phone applications are a great way to stay on top of budgeting! One of the more popular apps is called Mint. Mint helps you by syncing up your bank accounts making everything easier to track.
To demonstrate, here is good overview of Mint: https://clark.com/personal-finance-credit/mint-budgeting-review
Also check out other budget apps here: https://www.digitaltrends.com/mobile/best-budget-apps/
Another reference is popular businessman Dave Ramsey has authored many books on finance and getting out of debt. On his website https://www.daveramsey.com/ are many free resources including a budgeting app, and a mortgage and investment calculator.
Also Clark Howard, a consumer expert with a popular TV show has many great articles on how to save money plus many other financial topics. These topics varying from: real-estate, cars, health and travel! These are found at https://clark.com/
As well as Susan Lynn “Suze” Orman is an American author, financial adviser, motivational speaker, and TV host. https://www.suzeorman.com/
You can get hands-on training at our Finally Home class that is happens once a month on a Saturday!