You’re simply prioritizing where every one of your hard-earned dollars goes. Having a budget doesn’t mean limiting yourself to what you can or cannot buy. Here’s an important note and a common misconception about budgeting. Having a budget in place allows you to take total control of your money! Without a budgeting planner, you wouldn’t have the resources available to organize your finances accurately, and you could be allowing hundreds of dollars to slip through your fingers unknowingly. It provides you with a guide to taking total control of your money. Having a budget planner allows you to budget your money properly. I could go on and on about how budgeting with a budget planner has changed my life, it was a real game-changer for me, but I want to share how it can change yours too. It’s what you need to control your finances! Why do you need a budget planner book? The most important part of a budget planner is that it helps you track every dollar that comes in and every dollar that goes out. It’s used to track your monthly bills, expenses, debt, savings, and more! You can get personalized budget assistance and help with more complicated things, like negotiating with your creditors or finding out which financial assistance programs you qualify for.A budget planner book is a tool that you can use to store all of your financial information in one spot. Seek help: The National Foundation for Credit Counseling is a reputable nonprofit organization that offers financial planning help.This doesn’t mean you deprive yourself of these things forever it just normalizes not spending as much money on them and finding cheaper alternatives. Do a no-spend challenge: Try to eliminate spending for a month (or several) on a problem area in your budget, such as clothing or entertainment.You can ask a lender for a modified payment plan or refinance your debt into more manageable payments. Negotiate with creditors: If debt payments are pushing you into the red, reach out to your creditors.But going through your bank statements to see what you really spend can help you find areas you can work on. Review your spending: It’s easy to guesstimate your spending with the calculator above.Find ways to boost your income: Whether it’s working a side hustle or a part-time job or asking for a raise at your current job, finding a way to boost the income side of the equation can have the biggest impact of all.Other: This is for all other expenses that don’t quite fit in any of the categories above.Savings and investments: Money that you regularly save for an emergency fund or vacation fund, as well as long-term goals like college, retirement, and a home.It also includes medications, glasses or contacts, and the like. Health care: This includes all the out-of-pocket costs for health insurance, dental insurance, and vision insurance, such as premiums (if they're not deducted from a paycheck), copays, coinsurance, and deductibles.This category also includes debt payments (outside of mortgages and student loans) and vacation expenses. Personal and family: Cellphone bills, entertainment-including TV streaming services like Netflix and other subscriptions like Spotify-fitness, pet expenses, household supplies, personal care (haircuts, toiletries, etc.), and clothing.Also include any student loan payments you have. for children in K-12 and adults going to college. Education: Tuition, supplies, fees, etc.Transportation: Public transportation like buses, but also car-related expenses, including your monthly loan payment, repairs, insurance, tolls, and fuel.Food: What you spend on food from the grocery store, eating out at restaurants, getting takeout, or meal delivery services.You can also account for other necessary housing-related expenses, like utility bills, homeowners or renters insurance, and maintenance bills. Housing: Your rent or mortgage payment.
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