What’s money ?

Other Resources

Be creative! You will need to do some research and speak with friends, family, and professionals to learn what may be available to you.

Tracking

Where’s Your Money Going? Track your spending with a notebook, spreadsheet, or electronic tracking app/computer program such as Mint.com. You can also use your bank/credit card statements. Find a method that works for you – there will be some trial and error, but stick with it!

Goals + Values

“It’s not hard to make decisions once you know what your values are.”

-Roy

Pairing your goals with what’s important to you leads to greater success and happiness.

Let your values help clarify your goals.

Short-term Financial Goals

Long-term Financial Goals

= Zero Balance!

Key concepts for budgeting:

1 Determine Your Goals

2 Calculate Your Living Expenses

3 Calculate Your Income

4 Income - Expenses = ?

5 Plan to Adjust

Helpful Tip:

Can you make a mortgage payment that’s larger than your current rent? If your lender tells you can afford a mortgage payment that’s higher than your current rent, practice paying the higher amount by putting the difference between the potential mortgage payment and your current rent into a savings account and don’t touch it! Not only will you become comfortable paying the new amount, but you’ll have a nice little nest egg as well.

Proposed Mortgage Payment: $1,450

Current Rent: $1,250

Difference (put into savings): $200

Practice paying $1,450 every month and don’t touch your savings!