How to build a budget that works for you

by TransUnion

Whether you’re looking to make a big purchase or think it’s time to take control of your finances, building a budget is a smart first step. Learning how to budget isn’t necessarily about restricting the enjoyable things you spend money on. It’s about having an understanding of where your money is going and if it matches your goals and values.

There are lots of budgeting styles and rules out there, but here a few tips to help you get started as you think about how to make a budget:

Know where you stand

Just like reading your credit report is a key to building healthy credit, you need to know where you stand in order to make progress on your financial goals. You may know how much money you have coming in each month. But do you also have a sense of what you’re spending money on? There are many good apps that can help you track where your money is going.

 

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