The Importance of Budgeting
"A budget is permission to spend money"
Budgeting is an important piece of any financial plan. A budget is simply telling your money what to do. You get to decide how your money will work for you. There are several tools that you can use to budget that are free or relatively inexpensive. One of those tools is Mint. Another tool is EveryDollar. I highly suggest checking out both of those tools to learn how to budget electronically. Budgeting electronically is the most effective way to budget in today's world. See the links below. Both of these tools will allow you to link up your online banking to the website. It will then pull in all of your transaction activity, and allow you to put your transactions into categories. Finally, you can set the categories you want to use for your budget. A good rule of thumb is 50% of your money to go to your needs, 30% to your wants, and 20% to your financial goals.
Learn more about Mint Budgeting App
Learn more about EveryDollar Budgeting App