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Keeping a Budget

Organization saves money

Keep a record of all expenditures - it shows you where the money goes.

Establishing a budget helps you determine what is really a necessity and what's a luxury to help you manage your expenditures,

Emergency Fund

Secrets to Creating a Budget

A road map to your financial future

You never set out on a road trip without a map. LIkewise, you can't expect to reach your financial goals without developing a road map for spending and saving.

First, track your spending.To create a budget, you need to track every expense, no matter how small, for at least a month including ATM fees. This helps you to create a more realistic budget.

Next, define spending priorities.About 35% of your earnings should be earmarked for housing and utilities. If you are saving for something specific like a new car or college education, set aside additional for those. Cut back on the less important things - but do not remove them entirely. Be sure to build a safety net for rainy day emergencies.

Credit and debit cards make it easy to overspend. If you find it hard to stick to the budget, pay for groceries, clothes, vacations and non-essential items with cash. Always live within your means and strategically pay down expensive debt like credit cards.

Defining Success

Find your own definition of success

Although money should not be a primary reason for picking a career, having a job that can keep you financially stable is always a good thing.

Look for a job that pursues a personal interest. This way, your source of income will be more enjoyable.

Ideally you can find personal fulfillment and financial success at the same time.