Looking at the Future with Your Present Budget

Am I living paycheck to paycheck? Do I often have money at the end of the month? How do I budget for my future goals? Questions that keep us up at night or stop us from living each day to our fullest potential. We feel disheartened, but if we remember anything from school, it’s how to take care of one priority at a time.

So, let’s start to transition a seemingly unachievable goal into a bunch of small achievable tasks!

1.)    Look at all your income to get a firm basis on the exact number you have available to work with each month.

2.)    Add up all your expenses each month and allocate the proper funds to each, on the best day of the month, and link that money to whichever pay period will resolve the balance. (For instance, if you get paid $500 weekly and $700 rent is due on the 1st, make sure you can use a little money from each check so that you balance out your month)

3.)    Take your income and minus the total amount of expenses due to see how much excess money you have every month.

4.)    Take the total amount of excess money you get every month and prioritize each penny. (For instance, if you have $300 extra every month try not to view it as “money to blow” rather look at the extra money as an opportunity to achieve your goals one step at a time just like we’re doing now with your budget.)

5.)    Save! Try to save at least 20%-50% of the extra money you get each month and before you know it you have a good chunk of money to put towards your financial goals!

6.)    Stand Firm! Sometimes it’s hard to save when you’re the one who’s in charge because we always want to go out to eat or buy that unnecessary, but we must Stand Firm to ourselves! Tell yourself, “No!”

7.)    Have fun and be happy! You are making these sacrifices for a happier you in the future! Delayed gratification is hard to grasp, but once you grab a hold you will understand another level of financial freedom!

These steps will get you started on the right path but it is all up to you! You have the power, the steering wheel, the controls of how effective you are at budgeting your life. You have the ability to make your dreams achievable and happen sooner than you thought! Take the first steps of budgeting your finances and let’s get you on track to achieving specific goals. Call us now so we can help you take that next step of fulfilling your financial dreams!