One of the most important aspects of ensuring financial wellness is regularly budgeting. Understanding how much money you have coming in and how much is going out is key to maintaining an affordable, stress-free lifestyle . If you want to create a balanced budget you have 2 options: you can make more money or you can spend less money. The real difficulty comes in understanding just how much money you actually are making, and how much it is actually costing you to maintain the lifestyle you are living. The act of tracking your income and expenses monthly will put you in a great position of awareness and will be the first step in the direction of creating and maintaining a balanced budget.
This easy to use budget planner will help take the hard work out of creating a budget and allow you to create a monthly budget or a yearly budget. Simply add all of your estimated expenses into the cells, and determine exactly where you are spending your money each month. Once you have done this, take the next week and track all of your expenses (hold on to all of your receipts and add them up) and then compare them to the information you have entered here (if you have allowed cookies in you web browser then all of the information you entered will still be here when you come back). Were your estimations correct? Do you have to make some adjustments?
One really important expense to track is the interest payments you are making on your credit cards. You could be paying a substantial amount of money on interest each month while making only a small dent (or no dent at all) on paying down your balances. This would be a good time to talk to one of our Debt Relief Specialists at Bromwich+Smith about settling your debts with a Consumer Proposal. A Proposal is interest free and based on what you can afford., so usually settles your debts for only a percentage of original debt owed!