Hi. I am looking for information on how to create a budget to save money.
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Please check out this article from The Penny Hoarder to get started: https://www.thepennyhoarder.co...eting/how-to-budget/
Good Morning! First congratulations on coming to an excellent place to get started on reaching financial goals. There are so many great things here.
If I were you, I'd start doing searches on "How to Set Up a Budget". There is probably plenty of information here (The Penny Hoarder). As there are so many different ways to set up a budget, you are going to need one in place that fits "you". For instance, having a budget app on my phone does not work for me. I'm a visual and kinetic learner (hands on) so the old fashioned using pen and paper works best to keep me on track. I have made my own budget forms (Word) that works well after trying several different methods over the years. Using these forms with pen is how I keep up with our money.
Everyone is different as to how and when they are paid, if their income changes (such as a free lance earner) and what specific goals they are planning. This, too, will be a consideration in your budget.
Finally, and you will read this over and over on money managing sites, know where all, yep! every penny of your money goes. This will involve keeping a tracking list of sorts to figure this out. Some items are obvious expenses every month and also many are the same amount due. But you may be surprised to learn how much gets away and how it adds up. Doing this gives you the opportunity to decide what things to adjust in your budget. Are there items you could get rid of and apply that money to debt or savings or investing?
Again, best to you in this new endeavor. Making this effort will surely impact your life in a positive way.
You need to find the right tool for you. I was horrible at budgeting and controlling spending until I began using YouNeedABudget.com. With its tutorial videos and budgeting help videos it is an invaluable resource.
There are many great budgeting tools out there so just try them until you find the one that works for you.
I use Mint. I get tempted by YNAB and attend some of their learning sessions, but just can't seem to wrap my head around it. I understand the concept of zero-based budgeting, but all the pushout categories with YNAB leaves me confused so I've just stuck with Mint since 2014.
I recommend Every Dollar by Dave Ramsey. It's helped me a lot, and the app is free. I think there's another app that costs more, but I know for me, it's been a great app for budgeting.
Was talking to a young man who was the host at a local restaurant and he has read and recommends the Dave Ramsey book-Every Dollar. He said he was so stretched between low paying jobs, he said this book really guided him and his finances.