Creating & Living With A Budget
A budget is a way of gaining control of, planning, communicating and fulfilling your dreams. At the very least, a budget should allow you to find extra spending money in your paycheck every month. It can help you see how to use money to pay bills and get more of the things that you need and want. A budget allows you to decide what is important to your family and to make choices before spending your money. The benefits of a budget are that it can help you live within your income, place your needs above your wants, set aside money for large planned expenses, emergencies, and save for the things you want.
To create the family budget, you need to review your family goals. If you do not have a list of goals, then you will need to create one. You need to decide what your short-term needs (i.e. down payment for car, insurance, shopping spree) and long-term needs (i.e. retirement, vacation) will be and then prioritize them. The income part is easy — take a look at your most recent pay stub and copy your information. Most budgets use your
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