Budget for Strong Financial Strides in 2018
Road trips and travel of all sorts benefit from planning and preparation. The same goes for your financial journey. Get set to make good progress in the coming year with these important steps:
- Think about your goals. Both long term and short term. The big ones, like buying a house, and ones that are less big, but important to you. (A week in Hawaii or a cruise? A new computer, ASAP?) Making this your first step can change how you take the next ones, so don't be tempted to skip it.
- Using our Financial Wellness Tool monthly budget planner, make a plan to spend less than your monthly income. We've made it simple, and we'll walk you through a few items the first time you create a budget. (If you haven't already enrolled in our Financial Wellness Tool, you can sign up here. It's fast and free.)
- Make it your New Year's resolution to regularly check your Financial Wellness Tool dashboard to track your spending trends and financial progress. Check your spending in individual categories to see if you're staying on budget, and see how your finances are doing overall.
Remember, in many areas, you really can make changes in order to spend less. For example, maybe you pick up takeout food for dinner several nights a week, or buy your lunch at a deli near your office nearly every day. If you cook dinner at home and take leftovers to work for lunch, you can trim your meal costs by quite a bit. You'll save even more if you budget your grocery shopping.
Another possibility: Are you paying for movies or shows you don't watch? If your cable package provides more content than you're using, a less expensive streaming service might be a good alternative for you, allowing you to cut your cable cord and reduce your entertainment expenses.
Make 2018 a year of strong strides - create your plan.