It may be a daunting word.Budgeting.
Some find it annoying. Others call it discipline. I call it a challenge.
Whether you’re a family of five or a recent college graduate, setting financial goals and building a budget that works specifically for you will only help you in the long run. It may sound scary, especially if you’ve never done it, but it’s something that will be rewarding since you work so hard for the money you earn.
It’s time to take control of your finances and understand where you’re spending your money and how much. Don’t let disaster strike. Ignorance is not always bliss. The time starts now to start making money work for you, not against you! It’s not always easy but it is worth it. Change can be a good thing and how do we expect life to get better if we don’t make positive changes in our lives?
Here’s something that can help figure out a budget that works for you. It’s called the 50/20/30 Guideline. This guideline breaks the budget into three buckets rather than multiple categories. It also helps you figure out how much you want to allocate to each bucket every month.
The 50/20/30 Guideline buckets are:
1. Fixed Costs
2. Financial Goals
3. Flexible Spending
Get the full description of the guideline here as well as how you can apply it to your own budget: https://www.learnvest.com/lp/how-to-budget-your-money
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