Can making a budget really make you feel better about life? You might be surprised! One of the most powerful things you can do to relieve uncertainty and stress is to take a step back and make a plan. A budget can help you figure out how to meet both your short and long-term financial goals. Think about it like a fitness plan: it’s not about dieting, it’s about getting healthy, staying healthy, and being ready for the life you want!
The first thing to do is to understand your overall financial situation so you can put your money to work for your goals! A few starter questions can help you get an idea of what you have to work with, what your commitments are, and what you have remaining to devote to your goals.
Remember, nothing is set in stone. You’re in charge of your plan and your goals! It’s always a good idea to pay off debt and to make savings a priority (pay yourself first!) You can always adjust your goal along the way, review your budget and make adjustments to trim expenses or direct money toward something different.
If your income is less than your commitments, don’t panic. It’s going to be ok. Your budget can help you find places to save money and trim expenses. Whatever your financial situation is, a budget and a plan are great first steps on your path to meeting your goals.
Download a budgeting worksheet to get started.
Schedule a 30 minute Credit Analysis with an MTC Federal financial expert to help build a customized plan.
As a Member Perk, all MTC Federal members have access to GreenPath Financial Wellness for free debt and credit counseling.
Jump start your financial future. Join the MTC Federal Financial Fitness Challenge.
Source: Greenpath Financial Wellness