What are the basics of budgeting?

Budgeting is a key part of building financial success. A budget can bring awareness to your spending habits and allow you to change them if needed. It will also help you achieve your short term and long term financial goals such as paying off a credit card or purchasing a house. 

Budgeting basics

  • Figure out your after-tax income
  • Calculate your expenses and sort by must haves” and nice to haves”
  • Set short-term and long-term financial goals
  • Create a budget
  • Make changes to your spending habits if needed
  • Make it a habit and review your budget often

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