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Budget

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Budgeting in its basic form is identifying your monthly income and then assigning your earned dollars to pre-determined expenses or buckets of spending.

Having a detailed budget is not for everyone, but it can be helpful for a number of reasons.

Budgeting Resources

Budgeting 101:

How to Build a Budget – The step-by-step guide to getting started:  
Learn more
Budgeting Tips – 11 of the best tips to help you become a better budgeter:  
Learn more
Saving Money Tips – 24 of the best money-savings tips to improve your budget:  
Learn more
Emergency Funds – What they are and how much you should have in one:  
Learn more

The Best Budgeting Tools:

Net Worth – Learn what net worth is and how to calculate yours:  
Get the tool
Rent vs Buy – Figure out which option is better for you with our calculator:  
get the tool

From the Blog

The Latest Budgeting Articles:

Dave Ramsey Baby Steps - Feature

Dave Ramsey Baby Steps: Breaking Down the Pros and Cons

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Best Budgeting Books - Feature

14 Best Budgeting Books to Improve Your Personal Finances

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Sinking Fund - Feature

What is a Sinking Fund and Why You Should Have One

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How to Stop Spending Money - Feature

How to Stop Spending Money: 10 Ideas to Try

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Truebill Review - Feature

Truebill Review: Not Your Average Budgeting App

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Best Cheap Furniture Stores - Feature

The Best Cheap Furniture Stores to Get Quality Furniture for Less

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How to Get Started with Budgeting

There are five simple steps when it comes to building a budget:

  1. Determine your after-tax income
  2. Calculate your total monthly expenses
  3. Set your savings goal
  4. Have fun with the rest!
  5. Track your progress and adjust as needed

Getting started is easy, and you can get the full how-to guide on building a budget from scratch here:

Get the Full Guide

Budgets 101

A personal budget can be defined as:

A financial plan that deliberately assigns personal income towards expenses, debt repayment, savings, and investments.

At the end of the day, a budget is a plan on how to use your money.

Most people view a budget as a monthly budget and measure it on that cadence, but you can also budget weekly, daily, or on any other cadence that works for you.

Why Budgets Matter

A budget is helpful for a few reasons, but in general it’s most useful for bringing clarity to your finances.

Having a detailed budget is not for everyone, but below are some of the top reasons to consider having one:

  • Provides financial clarity: At a minimum, building and tracking a budget gives you a clear picture of your finances. You can see exactly where your hard-earned money is going.
  • Gives your money a purpose: Having a budget puts you in direct control of your money. You know exactly what each earned dollar should be used for, and no money “slips through the cracks”.
  • Stops frivolous spending: It’s a lot harder to make that unnecessary online purchase when you know it’s not in your budget. A budget helps ensure you’ll comfortably pay your credit card bill on time and in full every month.
  • Helps to prioritize saving: A budget helps ensure you prioritize saving and investing. Both are necessary for building financial stability in the future.

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The Latest Blog Posts:

  • What is the Most Expensive Stock? January 14, 2021
  • Dave Ramsey Baby Steps: Breaking Down the Pros and Cons January 9, 2021
  • Ultimate Guide to Property and Casualty Insurance January 7, 2021

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