A monthly budget can give you peace of mind and allow you to effectively manage your money, prepare for emergencies and save for large pricey items.

1. Tips For Budgeting
A monthly budget can give you peace of mind and allow you to
effectively manage your money, prepare for emergencies and save for
large pricey items.

2. List the money you have coming in each month and the expenses that
you expect each month. This will give you an idea of how much extra
money you have to spend each month. If your income is less than your
expenses you will need to cut back on spending.
Set A Realistic Budget

3. Round up on the amounts that
you estimate for your expenses.
It’s easier to figure out what to do with extra
money at the end of the month than it is to try
and find cash last minute because you did not
plan properly.
Estimate Higher Expenses

4. The items in the needs category come
first, and whatever money is left over
after can be spent on wants.
Your expenses should put in two categories, needs
and wants. This will help you recognize items that
you can cut out of your monthly spending if
necessary.
Needs And Wants

5. It is recommended to add an additional
expense in your budget for emergency
savings.
About 10% of your income should be set
aside and only used for emergencies such
as car repairs or medical expenses.
Include Savings Into Your
Budget

6. Just in case there are unexpected expenses from month to
month you should add a little padding to help to ensure
that you don’t go over budget.
Allow For Flexibility

7. It is very important to track your spending and ensure that
you are staying within your planned budget. Every month,
look to see if you over or under spent in any areas.
Keep Track Of Your Spending

8. Look back at your spending habits every three months and make
adjustments on items that you are consistently over or under
spending on.
Once you have your budget set up you should become more aware of your
spending habits and have a plan of action towards financial success. Good luck!
Edit Your Budget Every 3
Months

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