What is a Budget?
A monthly plan that splits your money into categories and helps you manage your spending and savings.
The first step to achieving all of your financial goals.
How you spend
- Cut back
Allows you to recognize areas
Your financial situation
Reach your financial goals
How to Create a Budget?
Determine how much $$ you make each month
Identify how you spend your $$
Keep a Journal
Set aside some $$ each month
Consult with family or financial experts
Decide where you can cut back
- 30% Flexible Choices (Shopping, eating out, charity donations… etc.)
- 20% Financial Priorities (Savings, debts)
- 50% Essential Expenses (Food, transportation)
A Starbucks coffee every day is $3.00 but in one year = $1,095!!
Bottled water: $3.00/day and > $1,000/yr
Tap water: $.50/day and $180/yr (Eco-friendly!)