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The Big Picture. . . Budgets
Budgets give you control over your life and the things you want to do with your money.A budget is a plan that helps you get the bills paid, stay out of financial trouble, and use your money to get the things you want out of life-from a college education to a vacation—even the kind of retirement you want.
The first step is to figure out where the money comes from and where it goes. Once you know that, you'll be able to put all your money to work for you.
Five steps will get you started:
- set goals
- add up all your income
- figure out all of your expenses
- work out a savings plan
- use the budget daily to keep it current.
There is a worksheet to help you keep track, and some software suggestions if that works for you better than paper and pencil. There's even a section on setting up an emergency fund.
Budgets sound like a lot of work, and they do require some effort. But it's worth it to get the things you want out of life. Most things aren't out of your reach if you plan to put them there.
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