Take Control of Your Finances
Nick Vance Date: April 13th, 2018 8:00 AM
Q. How can I get a handle on my finances this year?
A. A new year is one of the best times to take control of your finances, because the year is fresh and you have plenty of time to get your ducks in a row. One of the best changes you can make is to create a budget for your household that allows you to keep track of income, expenses, and goals for saving and spending.
Once you have a good idea of income and expenses monthly, you have the information you need to build a workable budget. Your budget needs to account for how much money you're bringing in and estimates of where that money is going to go, accounting for all expenses including savings goals.
You should create estimates and try to stick to them to follow your budget. Setting income, expense, and savings goals is vitally important to get a handle on your finances, and now is as good a time as any for you to get the ball rolling. Don't be afraid to alter your budget monthly depending on your financial needs.
Budgets should be flexible to be successful, but they make excellent guidelines for your income and expense goals.
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