Building a Budget in Four Simple Steps

Don’t be overwhelmed! Here are four tips to building your Budget.

1. Track Spending
   1. Identify where your money is going. Record EVERY purchase you make for a month in a journal or app. Assess, then cut back until you have at least twenty percent of your income remaining monthly.
2. Automate Savings
   1. Open a savings account with your bank. Schedule monthly transfers for right after you get paid.
3. Prioritize Expenses
   1. Does it make you happier to spend money now, or save up instead? Decide: reward yourself with a weekly ritual, or an end-of-year vacation?
4. Cash Allowances
   1. Put cash amounts into labeled envelopes, specified by expense, and leaveyour plastic at home.

Your future self will thank you for these mindful changes!