A new year is fast approaching. While many are finishing up their holiday shopping and setting their New Year’s Resolutions, now is also the best time to lay out your financial framework for 2016.
As is always the case with every new year, it is time to prepare a new budget. Getting your budget off to the right start is the best way to help your financial situation in the new year. Go to the Monthly Budget page on my website and download an Excel version for yourself.
Create your monthly budget for the new year, using your best guess estimates for various income and expense categories. Remember that it doesn’t have to be perfect, and you can always change it as the year goes on.
After you have set up your monthly budget, I highly suggest you check out Kimberly Palmer’s article that was shared on Yahoo Finance. I have provided the link below:
Look at some of the suggestions outlined and see where you can tailor your budget to focus on paying down high interest debt, or finding spare money to invest for your future. You might not be able to relate to or benefit from all 25, but find at least three that you can implement into your 2016 budget.
Budget Smart, Invest Wise