Money when money is tight building a nest egg With the approach of a New Year you’ve, no doubt, had personal finances on your mind. If you are like most, you are devising a plan to get your financial house in order for 2018 and while much of the basics seem like common sense, they bear repeating from time to time. Building an emergency fund is essential for cushioning yourself against unexpected expenses, but it is not always easy to find money to put aside for this. If there isn’t much money left over at the end of the month, you might be wondering how you could possibly build your savings to any degree. Fortunately, you can still build an emergency fund when money is tight, but you may need to adjust your goals and expectations to get there. create a budget Creating and sticking to a budget is by far the most effective way to control your expenses and build your savings. A wide variety of budgeting tools and worksheets can be found online. Review the options to find one that works for you then complete it thoughtfully. A well thought out budget will make your savings journey easier and much more successful. Update and review your budget often. If you are married, this should be a joint project to be sure everyone is on the same page and to prevent unnecessary spending. start small Shoot for establishing an emergency fund of a$1,000. If you currently have no savings, the idea of scraping together even a little bit of cash to establish an emergency fund can be daunting, but if money is tight, simply set a smaller savings goal at first. If you can only afford to save $20 per month, start there and stick to it. Use the budget you have created and don’t deviate from it. Reducing your current expenses thoughtfully, may be enough to free up the cash for savings you are looking for. You may even consider a direct 44 WomanToWomanMagazine.com
30206FR
To see the actual publication please follow the link above