Congratulations on starting your financial journey! Creating a budget and sticking to it is no easy feat, but it is the best way to manage your finances and ensure that your money is going toward the expenses that matters most to you and your family. Start by determining why you want a budget. Deciding on a budget can help you make informed decisions. Budgeters are almost twice as likely to report no financial worries compared to spenders. Moreover, budgeters are
It’s not simple to stick to a budget and even the most diligent savers have trouble staying the course at times. The fact of the matter is that making mistakes is an inevitable process of learning. You will have a greater awareness of your connection with money and more command over your expenses once you get a hold of it. There isn’t a magic button that will keep your budgeting on schedule, but there are a few suggestions that can
Nobody ever wakes up one morning and thinks, “I want to be broke.” A hefty loan here, a bad investment there, and a long credit card statement later – you have no idea how you landed in this state. You are living paycheck to paycheck without savings intact. What can you do to turn the tide? Start by reading this article and applying these lessons into your life. #1: THE POWER OF SETTING CLEAR FINANCIAL GOALS Goals mark your direction
A personal budget is a financial summary that tracks your income and expenses for a certain period, which is typically a month. The word “budget” is often associated with limited spending, but a budget does not have to be restrictive to be effective. Having a personal budget that you can review on a regular basis enables you to prevent overspending. Start with these six simple steps. #1: GATHER ALL YOUR FINANCIAL STATEMENTS Get a bird’s-eye view of your financial situation
Stating that “2020 has been a tough year” is an understatement. Words cannot describe how much we have been affected by the past year. I, for one, was tasked to let go of employees due to financial constraints. It was not easy! It was one of the hardest decisions that I had to tackle because I have seen these people grow. Moreover, I felt responsible for their well-beings too. However, downsizing was essential for the company to survive. Our stories
