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Editor’s Note: This story was originally Penny Horder.
New year, new budget.
If you’re finally ready for a total money makeover, keeping a budget is a great way to start.
A budget helps you manage your money not only by monitoring your cash flow, but by encouraging you to take action toward your goals to ensure financial freedom and long-term financial stability.
With that in mind, we’ve gathered some of the best budgeting advice to improve your personal finances, from handy templates to personal finance books. to introduce.
1. Use a free budgeting template
Wouldn’t it be great if someone handed you a one-page financial plan to help you manage your money in no time?
We do not claim to be personal finance fairies, but you can use any of our 6 free budget templates Start planning your own shabby Cinderella story.
If the spreadsheet breaks into a cold sweat, fear not. There is an app for that. See our recommendations. 5 best budgeting apps.
2. Save money every month with 70/20/10 budget
The 70/20/10 Budget is a percentage-based money management system that allocates 70% of your take home income for monthly spending, 20% for savings and investments, and 10% for paying off excess debt and giving.
It’s a good budget to implement if you’re working toward a savings goal and want to be more conscious about saving each month.
If you’re not a fan of the 70/20/10 budget, try one of these. Budgeting method.
3. Rely on budget billing to even out utility payments
You are cruising with cash to spare. After a cold November, we are caught off guard by huge gas prices.
Unexpected seasonal spikes can disrupt monthly bill payments, but budget billing options from utility providers level the field.
See how it works and who provides budget billing plan And what are the advantages (and disadvantages) of signing up for a more stable monthly utility bill.
4. Get a financial plan — the free one
Financial planning is only for the rich, right? error!
Anasoba is an AI-powered tool that asks you financial and lifestyle questions to create a fully personalized financial plan tailored to your specific needs.
Take less than 10 minutes to answer a few (completely anonymous) questions about how you spend your money to develop your own detailed plan.
5. Master your finances with the best budgeting statements
Need to expand your money knowledge?check out best personal finance books From Dave Ramsey’s “The Total Money Makeover” to personal finance writer Tina Hay’s “Napkin Finance,” we promote financial freedom.
And if you’re looking to invest in increasing your financial security, here are some recommendations. 9 best investment books A must read to start on your path to financial success.
6. Talk about money with your partner
Talking about personal finance isn’t the most romantic conversation, but it’s absolutely essential to a healthy relationship.
It is here Questions to ask your partnerthe financial decisions that need to be continually discussed in order to build financial stability, and how to work together on a budget that will make your home more harmonious.
7. Ditch the one-size-fits-all budget and try a pay-as-you-go budget
It’s easy to look at a budget failure and think it’s just a commitment failure. But sometimes the problem isn’t you. That’s how budgeting works.
Customize your personal finance approach with several different budgets. Salary system by budget.
This approach combines some of the best elements of calendar budgeting, zero-based budgeting, and cash envelope systems into one viable framework to get you started living your best financial life right away.
8. Budget your wedding and plan your big day
It’s easy to get caught up in all the beloved details of wedding planning and feel overwhelmed when all the costs add up.
Create a wedding budget in advance and take a proactive approach to wedding planning by considering all the expenses of your big day.
9. Consider zero-based budgeting
Living paycheck to paycheck doesn’t sound like the image of financial security, but this budgeting approach turns that notion inside out.
Zero-based budgeting Combined with a well-stocked emergency fund, a race to zero can be a viable way to manage money and build wealth.
10. Take our quiz to see which budgeting method is right for you
Not all budgeting methods are created equal. Some methods of managing personal finances are not suitable for certain lifestyles, personalities, or financial circumstances.
Figure out which budget is right for you our personal quiz Match your preferences with common budgeting methods. please do not worry. There are ways to suit your financial craziness.
Whether it’s a personal finance book or a budget plan for the week, our best budgeting lessons and practical advice are here to guide you on your path to financial independence and a more prosperous financial future. is in