Can a Budget help you save money? Of course, that is why it was invented!
For only $149, Capital Budget Strategies, LLC, Austin’s best Financial Coach, will help you create a Budget, an Emergency Fund, review your retirement savings, build a Snowball Debt Repayment Plan, if needed, and give you the knowledge and confidence to handle your personal finances like an adult!
As an example, suppose your boss put you in charge of the annual company picnic, what would you want to know? How much money can I spend, and will that new legal assistant be there? You must also budget your money to make sure not to overspend.
Budget Basics in 6 Easy Steps:
Step 1: Make 2 columns: Expense and Cost.
Step 2: Determine your exact income.
Step 3: List all your “nondiscretionary” expenses in column 1. There are items you must pay each month, including Rent or Mortgage, Food, Gas, Car Payment, School Loans, Utilities and Cell Phones.
Step 4: In Column 2, write much each expense costs.
Step 5: Next, write down the expenses you know will happen within 6 to 12 months, such as real estate taxes, holiday gifts, car repairs, new clothes, etc. In Column 2, write down how much you should save each month for these expenses.
Step 6: Total up all the items listed and subtract from your income. The result is your “spending money.” Money for entertainment, happy hours, concerts and a date with that new legal assistant (hopefully).
As you can see, a Budget forces you to “pay yourself first,” meaning you have paid all your nondiscretionary expenses and put money aside for future expenses. Most importantly, you have determined how much you can afford to spend on entertainment.
If you do not have enough income to cover all your expenses, then it is time to get a weekend, part-time job. Retail stores now have a starting pay of $15/hour. Or start your own business!
Contact Capital Budget Strategies, LLC for more information on your 4-hour, one-on-one instruction via Zoom Video Conferencing with the best Money Coach in Austin!
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