Budgeting & Spending

Take control of your money.

Budgeting is crucial for individuals as it empowers them to take control of their finances, allowing them to prioritize their needs, plan for the future, and avoid unnecessary debt. By setting financial goals and tracking expenses, budgeting enables people to make informed decisions, achieve their aspirations, and experience greater financial stability and peace of mind.

The 3 Main Categories in a Budget

  • Needs are things that you must pay for, such as groceries or the rent payment every month.
  • Wants are purchases you don’t have to make but want to, such as going out to eat with friends or buying concert tickets.
  • Savings are what you put aside from your earnings to save for the future.

Why is Having a Budget Important?

Having a budget is essential because it helps individuals understand their income and expenses clearly, enabling them to make informed financial decisions and avoid overspending. It also allows for effective goal setting and saving, ensuring that individuals can work towards their financial objectives, whether paying off debts, saving for a down payment on a home, or planning for retirement. Ultimately, budgeting promotes financial discipline and empowers individuals to take control of their money, leading to increased financial security and peace of mind.

6 Steps for Creating a Budget

Remember, creating a budget is an ongoing process that requires discipline and flexibility. Regularly reviewing and adjusting your budget will help you stay on track and achieve financial success.

Budgeting Resources


Wallet: Budget Your Money – A free app that helps you create a plan for your money by setting up a personalized budget plan to help you track expenses, save money, and see all your finances in one place. 

IOS Download 

Google Play Download  

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