Creating a Budget
Why it's important
- Save enough money to cover your basic needs and wants.
- Gain efficient and better control of your assets.
- Avoid overspending.
- Reduce financial worries.
- Reduce debt.
- Increase financial knowledge.
Starting to Save
Start by setting your goals. Identify what you are saving for and why. Here are some common savings buckets.
Tips for Managing Debt
- Make a list of the debts and what you owe.
- Create a household budget and track your spending.
- Decide which debts to pay off first. Pay your bills on time each month.
- Set up automatic payments.
- Make at least the minimum payment.
- Consult with your trusted advisor.