After I graduated law school with a ton of student loan debt, I become obsessive about personal finance and learning creative ways to become debt free. The more I researched and learned, my first thought often was, I wish I knew all this before!
So every Friday, I will share financial facts, wisdom, or action steps that you can take to not only learn more about personal finance and attacking debt, but also how to set yourself on the road to financial freedom!
Today’s wisdom can truly change your financial path. A budget helps you spend the income you have wisely and build your savings. A budget helps your track and alter your spending habits. My husband and I have personally used a budget for the last three years and it has truly changed our spending habits. At the beginning of every month, we plan our expenses in advances (excluding emergencies) and tell our money where to go. When I first started my business, we made the decision to live on one income, while using additional income for debt repayment, savings, and investing. One of the main reasons we have been able to do this is because of budgeting. This till day we track every dollar we spend on our phones (more on this in a later post).
Do you have a budget or any budgeting tips?
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