Winter Break is right around the corner and we're inching closer to the new year. Try our top 3 budgeting tips to help you meet your financial goals next year!
As you begin planning for the new year, we'd like to share some budgeting tips to help meet your new year financial goals.
1. Make a List of ExpensesStart by making a list of all of your expenses. Write them down on paper or use our “My Personal Spending List" worksheet. Once you've listed everything you spend money on, evaluate each expense and determine if any of the amounts can be reduced or potentially eliminated.2. Make Sure Your Four Walls are CoveredWhen you begin your budgeting and savings journey, it's important to make sure your four walls are covered.
1. Make a List of Expenses
Start by making a list of all of your expenses. Write them down on paper or use our “My Personal Spending List" worksheet. Once you've listed everything you spend money on, evaluate each expense and determine if any of the amounts can be reduced or potentially eliminated.
2. Make Sure Your Four Walls are Covered
When you begin your budgeting and savings journey, it's important to make sure your four walls are covered.
It can be helpful to create your budget using these four categories and allocating amounts to each bucket before putting money elsewhere.3. Bucket Your Savings into Now, Soon and LaterWhen it comes to savings, there are three primary areas we want to focus on – Now, Soon, and Later.
It can be helpful to create your budget using these four categories and allocating amounts to each bucket before putting money elsewhere.
3. Bucket Your Savings into Now, Soon and Later
When it comes to savings, there are three primary areas we want to focus on – Now, Soon, and Later.
For additional budgeting and savings tips, check out our Student Education Center or stop by a nearby Member Center to speak with one of our WPCU Financial Coaches.