New Year, New Beginnings…

Start the year off right by making a plan to get your finances in order so that you will be debt free and on your way to saving for your future.

List all your recurring expenses: rent/mortgage, heat, electric, phone, auto loan, food, health/dental/car/home insurance, etc.  These should be ONLY the necessities. Next to each one, write the amount needed on a monthly basis.

Then list all of the incidental expenses:: doctor/dental co-pays, gas and needed car expenses, gifts, clothes, hairdresser, entertaining etc. Next to each one, write the amount needed on a monthly basis.

Now write your monthly take home pay amount, under it write the amount needed for necessities, and subtract that figure from the take home amount.  The remaining figure is all you have for incidentals you’ve chosen.

Big question:  Where does savings come into play on your list??????

Did you even consider savings……. paying yourself first???

You should always pay yourself first….it’s the only way you’ll consistently save money for your future.

Make a budget that you can stick with, and pay yourself first.