Create and Follow a Budget

Create and Follow a Budget

One very important tool for controlling your finances is budgeting. A budget is one of the first steps you can take to build better financial habits. Let’s learn what a budget is, why we should make a budget, and how to make a budget.

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What is a Budget?

• A budget helps track your spending every month so you stay on target with your goals.
• A budget counts how much money you make, how much money you spend, and makes a plan for every dollar you have.

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Why Should You Make a Budget?

• Peace of mind:  A budget ensures you know where your money is going every month so you don’t overspend. 
• Helps reduce stress: Understanding your finances can make managing your money less stressful.
• Helps you stay in control: A budget helps you keep your spending under control by tracking and minimizing non-essential costs and understanding your spending habits. ‍
• Save for the future: Any money you save by making a budget can be put towards another short- or long-term goal like buying a car or sending money to your family.

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How to Make a Budget

In the following video, let’s explore more about what a budget is and how to make one!

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Here’s a budgeting worksheet that you can use to make your own budget.

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Budget Calculator