The new year is underway, and many are thinking about their finances. From adjusting retirement investment and timelines, to figuring out how and where to pay off debt, to owning or renting, the after-effects of pandemic continue to affect many households and how they see their future.
“Establishing good financial habits, which includes creating and sticking with a budget, can be some of the most important decisions you can make to secure your family’s future, “Mechele Agbayani Mills, President and CEO of BBB Central East Texas said. “It isn’t easy, but it will be worth it.”
BBB offers the following tips to help you get on the right track to a better financial future:
Calculate your income. You can’t properly set a financial resolution unless you know how much income you have. Calculate your monthly net (after tax) income, so you can set a clear budget with exactly what you are bringing home.
Set up a budget. Once you have an idea where you are spending money, you can set up a realistic budget. There are free online tools to help you, so there is no need to spend a lot of money on budgeting software. Be cautious of scams, however, being mindful not to share personally identifying information unless you have verified the site’s legitimacy. Clearpoint Credit Counseling Solutions, a BBB Accredited Business and national partner, offers a budget calculator to help you create a budget.
Monitor your spending. Whether you prefer an app,…
