Did you know that the #1 New Year’s Resolution for 2012 was to “save money”? Now that we’re a little way into 2012 I have to ask if you have been able to save money so far this year? And have you been saving as much as you had hoped?
Take it from the money saving expert, in order to save money and to save as much as you want to, it is vital that you have a plan. And in the money world we call that plan a budget. For so many a budget is scary or too difficult or something they just never get around to. But the truth is, you need to have a budget, and you need to work on adjusting it periodically so that it actually works.
Creating a budget really isn’t as hard as it sounds. If you went through 2nd grade and learned how to add and subtract (ok, maybe through some of the higher grades so you can add and subtract longer numbers), then you can work a budget. That’s all it really boils down to. You add in whatever money you make, and you subtract out whatever you spend. That’s it.
What you do with the budget is key. When you are tracking your spending and know what is going out and coming in, then you can make adjustments. Maybe you see that you are spending a LOT on groceries and can think of some ways to cut down (clipping coupons, buying in bulk, cooking big meals so you can eat some now and freeze some for later, etc). Or perhaps you see that you need to be putting more money into a savings account if you are going to take that family vacation next year. The budget helps you see where you are so you can get to where you want to be.
To learn how to create a budget that fits your life, including be sure to visit the iMoneyCoach University where you can sign up for the Budgeting course by itself or the full 10-course iMoneyCoach Financial Life Training System that will teach you not only budgeting, but also life balance, a new definition of money, how to rank and prioritize your spending, how to teach kids about money, and much more.
Once you have created your budget, you can focus on finding ways to save money. For starters, here is a link from a saving money expert on 101 Ways to Save Money. And if you’d like emails with quick tips on ways to save money, make money, save time, or reduce your financial risk make sure you sign up to get the iMoneyMinute Emails . We promise to never sell or abuse your email information. We simply want to get some great tips out there to help people with their finances.
Tags: budget, budgeting course, money saving expert, save money
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