If you want to reach a goal, you need a plan. It’s the same with a financial goal. We just call it budgeting. Creating a budget may seem restrictive and time-consuming. It doesn’t have to be. You’ll be on your way to stronger financial health by following these three steps.  

First, determine your spending habits. The easiest way to do that is to check your bank accounts. Then create a list of all the debt you owe. These are debts like student loans, car loans, and credit card payments. Keep track of your balances, interest rates, and payment due dates to make sure you’re not racking up any unnecessary fees. 

You’ll want to make sure all your other expenses get added to the budget – expenses like housing, utility payments, cell phone bills, groceries, and entertainment.  

Then, add up your income over that same time period. Make sure you account for any side hustles or payments that come from sources besides your primary job. If your budget shows you are spending more than you make, you’ll need to find areas to cut back before you get too far in debt that you can’t handle. 

There are budgeting apps on Google Play or the App Store. We even have one you can download. Budgeting doesn’t sound fun, but it’s the only way to get a true snapshot of your financial picture.