It’s Never Too Late to Start a Budget

By Lee Sherrock, Executive Admin

Tax season is upon us again, and as you gather all of the necessary documents and go through receipts, it’s the perfect time to consider starting a budget if you don’t have one already. Looking back at the previous year’s expenses may be just the motivation to get started.

And creating a budget doesn’t have to be intimidating or complicated. An app that crunches the math for you, like Mint, is handy and perfect if numbers aren’t your thing, but all you really need to begin is a piece of paper and a pen or pencil. You can download Dave Ramsey’s free budgeting forms here: https://cdn.ramseysolutions.net/media/pdf/forms/fpu-budgeting-forms.pdf. For those who enjoy working with numbers, a spreadsheet may be for you. Again, it doesn’t have to boast a ton of bells and whistles and formulas and graphs. The most important feature of whichever budgeting method you choose is that it works for you and encourages you to stick with it.

Taking a hard look at one’s current spending habits can be difficult, but sometimes an eye-opener like this is necessary. It’s all too easy to swipe a card for a cup of coffee out a few times a week and not realize how much that actually adds up to until it’s staring you in the face. Or that gym membership you forgot you signed up for. Or that streaming service you hardly watch, if at all. Sitting down and devoting a bit of time to listing all of your expenses can really help you see what’s essential vs. those items that you may be able to cut. And who doesn’t love saving money?

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