The Budget Basics

A budget is an important money management tool that aligns your income, the money you earn, with your expenses, those things on which you spend money so that you can acheive your short-term and long-term financial goals. It gives you a clear picture of where your money is going and helps you make sure you don't spend more than you make. The sooner you get in the habit of budgeting, the sooner you will be financially successful. So let’s get started on that path now!

Many different factors go into making a budget and you start by cataloging your monthly income and expenses. Once you have this information, you can plan your own budget to reach your short-term and long-term financial goals! Watch this presentation to explore the basics of budgeting and learn how to create your own personal budget.

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Creating a Filing System

Now that you know how to create a budget, let’s talk about getting and staying organized. Now is the best time to do that! By keeping records and establishing a filing system, you can track where your money goes. Then you can better estimate your income and spending for your budget. By keeping records, you can check your estimates at the end of each month to see what you actually spent. This will help with adjusting your budget to match your spending habits and to meet your financial goals. Watch this presentation to learn more about setting up your own filing system.

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It's not only important to have a filing system, it's important to ensure that the filing system is well organized. View the image below for information on ways to file your documents.