From the course: Personal Finance Tips and Tricks
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Make a budget that works
From the course: Personal Finance Tips and Tricks
Make a budget that works
- When it comes to managing money, there's no one size fits all solution. The best method is the one you'll stick with. Remember, budget is both a noun and a verb, it's something you do. You have a regular time to review what's come in and gone out, predict what's happening in the period ahead, and create a financial plan to deal with it. But, do you do that with an app, a spreadsheet, colored markers, or envelopes of cash? Here are four tips to help you pick the best budgeting system for you. First, take a look at your current situation to pinpoint how it's working and not. Often people start this process wanting to turn over a whole new leaf, but ideally we want to change as little as possible. There are reasons you naturally spend, earn, and manage the way that you do, and we want to preserve those things that work well and easily in your life. Try simply tracking your income and spending for a month without changing your behavior. Even if this means that during that time you're…
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