Getting Your Finances Back on Track

Getting Your Finances Back on Track

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If you are brand new to budgeting, a great way to start is by determining what your long and short term financial goals are. Starting with the end goal in mind will help you stick to a budget.

Next, try tracking your spending for one month. You can keep a written log, use your bank statements or an app on your phone. You may be surprised at what you find by tracking your expenses. Once you have tracked your finances, you need to create a budget by categorizing your spending and pre-determining amounts to spend on your expenses.

Everyone will have a slightly different method of budgeting that works for them. No matter what method you choose, make sure you get started now and get your finances on track.

*According to the Federal Reserve August 2016 study entitled American Family Financial Statistics.