Find a Budget That Works for You!

We all know the importance of a budget, but how many of us are actually using one? Every household should be on a budget. If you’re one who has yet to bite the bullet and create a budget, now’s the time to do so!

Budgeting Made Easy

Not all budgets are created equal. This is because we all learn and manage things differently. Find the budget for you by giving one of these a try!

Subtraction Budget

The Subtraction Budget is simple for those who want an easy budget that allows them to just to stay on track with their finances. For this budget, all that’s needed is for you to add up your monthly bills (including mortgage or rent, car loan, utilities, phone bill, groceries, etc.) and subtract it from your monthly pay. The money left is what’s available for extracurricular activities, such as eating out, going to the movies and buying clothes. But also, don’t forget the importance of putting some of that extra money in savings!

Cash Budget

This may also be known to many as the “envelope” method. Here, you take plain envelopes and label each one of them for a specific bill, such as energy bill, grocery bill, cell phone bill, etc. Then, when you get paid, you put the amount of money you need in each envelope to pay the bill. If some of your bills are more easily paid online, then leave that money in the bank and take cash out for envelopes such as food, household supplies, entertainment, etc.

Learn more about how to put a budget together by visiting our website at http://jeffersongreenpath.org/financial-planning-worksheets/ to view our various budgeting planners that can help you in meeting your financial goals.