Budgets are boring, right? But if you want to own your financial future, a budget is an important piece.
Don’t be intimidated by the finance lingo. A budget is a plan for saving and spending money, and it doesn’t need to be overly complex for it to work…
A simple budget shows your income and your expenses. The BIG goal is for your expenses to be less than your income. Wondering how to get started on this easy 3-step budget? Keep on reading!
1. Save First: The most important step in any budget is to identify your savings goal. Make this the first line item in your budget and stick to it! Individuals have more responsibility for their financial future than at any point in the past 100-years. Accept that responsibility and meet your saving goal EVERY month.
2. Needs: Identify and list the things you can’t live without, literally. These are life’s essentials. The Troutwood App helps you better understand what these costs are in different cities.
3. Wants: These are nice to have, but planning and budgeting for them can help turn your dreams into reality.
It can be that easy! Start simple, then build from there.
Stayed tuned for more tips on how to implement & evaluate your budget. In the meantime, the first step is building it.
Now go do it!
Own your financial future.