Creating a Budget

How to Make a Budget That Works and Keeps You on Track

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Creating a budget is crucial to any financial situation. Whether you are trying to pay off debt, save for retirement or find ways to cut back on spending, making a plan and sticking with it will be the only way of getting ahead. In this blog post we will go over some tips that can help you create a solid budget.

Follow these simple steps to gain peace of mind about your finances

Create a Budget

Creating a Budget

The first step to create a budget that will work is by listing all of your income and recording every single dime you spend monthly. To have an accurate understanding of where you are starting, it is important to know with clarity how quickly the little things add up that you buy on a monthly basis. This awareness alone can change your spending habits for good!

Use Credit Cards Wisely

Creating a Budget

Many college students struggle with the temptation of credit during their formative years. College credit seems like a great idea, but it can do more harm than good if your income isn’t enough to pay off those high-interest debts. Now that you’re out of college and looking for full-time employment, the reality is beginning to set in – and you need to be prepared!

The freedom bestowed upon college students often comes with a cost: an impending pile of debt when they graduate. Sure, it may seem like a good idea at first; after all, what could go wrong? Credit cards offer large lines of spending power and low introductory interest rates that make them hard to resist for cash-strapped students who want the best for themselves

Free Budget Planner Template

Take the leap and start your journey to financial freedom with this Free Budget Planner Template.

When it comes to credit, there are two main things to keep in mind. If used properly, it can be a tool for peace of mind and convenience as you know that if any emergencies arise, you will be covered. However the temptation is also big and with the availability of credit making us want to live outside our means, often leading to problems later on down the line when we have to pay back what we owe. The less credit you use the less you’ll end up paying back!

Keep Your Checkbook Balanced

Creating a Budget

Being mindful of your bank balance is key to avoiding chronic overdrafts. By checking the account statement and inputting information into the checkbook, you can stay on top of where your funds are going. Spending less will save you money in the long run, and help you better plan for unexpected expenses that could interrupt any budget with a shortfall.

Keeping track of how much money goes in and out each month will prevent most people from getting an accidental overdraft fee or two – especially if they’re not paying attention to their account balances and have trouble controlling impulse spending when it comes to purchasing items like coffee or snacks every day on the way home from work.

Reduce Expenses

Creating a Budget

Creating a successful budget is not rocket science. It’s more like cooking- if you have the right ingredients and follow the recipe, you can’t really go wrong! Start off by tracking your income and expenses to make sure that for every dollar coming in, there is one going out. Make some cutbacks on things like eating out or going to the movies until your monthly spending equals or falls below what you’re taking home each month. You’ll be glad you did when it comes time to buy Christmas presents this year!

  • Use coupons and get discounts on items. You can learn how to do that at Philly Coupon Mom
  • Turn off the air conditioner when you leave the house, this will save you money in the long run.
  • Start to cook at home, check out our Recipes page.

Do whatever it takes to cut down on expenses and save.

Free Budget Planner Template

Take the leap and start your journey to financial freedom with this Free Budget Planner Template.


One time or the other in our lives, we may have experienced financial pressures that seem overwhelming. It could even be your current predicament if you’re struggling to make ends meet and are considering bankruptcy. But there’s hope: no matter where you are in life, it doesn’t mean you should give up. There are things you can do to get back on track financially!

There is hope! Anyone who is willing to put in the work and do what it takes can come out of a financial slump. If you implement these simple steps, commit to maintaining a rock-solid budget for your family, and stay disciplined with your money management skills, you will experience financial peace and prosperity in no time at all!

How do you budget? Let us know in the comments below!

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