Where do you start?
First, establish a baseline to budget from.
Try the 50/20/30 Budget
With your data in hand, establish three categories of spending
Now divide your net monthly income among the three categories
Percentages for essentials and lifestyle choices are the maximum you should spend. Spending less in these categories will leave more money for other financial goals.
The purpose of a budget is to spend less than you earn. The best way to do this is to pay yourself first, rather than hoping there is something left over at the end of the month to sock away. Getting the money out of your hands and into savings first, you are less likely to spend it.
The 50/20/30 budget is flexible. You can bend it a bit by varying the percentages to make it work for you. All budgets are slightly different. The key is to get started and remain faithful to your budget every month.
The best time to take charge of your tomorrow is right now. The sooner you get a handle on saving and spending, the sooner you can start working toward the financial security you deserve.
The first step in working toward your goals is finding the right advisor to help get you there. That’s why we offer no-obligation initial consultations. These meetings provide an opportunity for you to get to know the person who will be advising you, and just as importantly, for us to get to know you.
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