Your goals – You might want to pay for college classes.You will have more choices if you have money to pay for those expensive things. Expensive things – Sometimes, we have to pay for expensive things – like a car, a trip, or a security deposit on an apartment.Everyone has expenses they do not expect. Emergencies – Saving small amounts of money now might help you later.Here are some reasons to try to save money even when it is not easy. It is very hard when your expenses go up and your income does not. Then you can put money into savings every month – maybe into a bank or credit union. You can make savings one of your expenses. Your budget can help you save money for the future.
You need a budget how to#
make a plan for how to spend and save your money.How can I use my budget?Ī budget is something you use every month. Last year my paychecks added up to $30,000. This is about how much money you will have for each month If you expect things to be like they were last year, do this: Maybe something you do not need, or a way to spend less. Look for things in your budget you can change. If the number is less than zero, you are spending more money than you make.
So how do you know if you need a budget? Here are some tips. Dealing with real numbers tends to be a lot less stressful than dealing with vague impressions of your income and expenses. In fact, if you’re always denying yourself and never buying anything you want for fear you can’t afford it, a budget could be liberating. It does not necessarily mean you can’t ever spend your money on what you want it just means you spend your money smarter. This post was featured on Personal Finance Blogs.ĭo you really need a budget? Isn’t that just a boring list of numbers that means you never get to spend money on what you want?Ī budget is really just a way to take control of your finances.