Have you ever gotten to the end of a month and wondered where all the money went?  With the unemployment rate at an all time high, many are faced with tough financial decisions.  While some are choosing to continue on as normal others are choosing to rethink their financial habits.  A good first step is to establish a family budget.  The very word “budget” may stir up thoughts of restraint and boredom.  On the contrary, those who adhere to healthy budgeting measures often experience financial and emotional freedom.

Here are 5 tips to help you get started:

  1. Write down all sources of income for the month.
  2. Write down all expenses for the month.
  3. Evaluate ways to reduce spending – remember the goal is to keep expenses below income.
  4. Plan and save for large purchases and vacations.
  5. Avoid the credit card debt trap – if you cannot afford it now, wait to make the purchase.

For those of you that are technically savvy, you can skip the drudgery by using one of the prepared budgets offered in Microsoft Office.  (Click on the Office Button and select NEW.  Then select BUDGETS from the left hand column.)  These suggestions are easier to implement than one might think.  Once you have a visual picture of your money flow, it will be much easier to plug the leaks.  Why not get started today?

If you have any questions or would like more information, please contact:

Nora Perrone

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