Apr 2 2018 52757 1

Dated: 04/02/2018

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Creating a Budget


The first step in getting ready to buy a home is to make sure you are financially ready. For my first blog I will have some tips for budgeting, and helpful articles for you to read. Getting started is hard and it takes commitment from the whole family. In my research for this blog I have learned that there are as many ways to budget as there are people.


For me, when I sit down to do my budgeting, I need paper, pencil, and calculator. I have tried many ways to do this over the years. I have tried apps, programs etc, but I always come back to paper and pencil.

To start, you should decide what budgeting method will work for you.

Apps

  There are many apps out there to help you budget. Some are free, but most can cost you. I personally like INTUIT Mint* (*not sponsored). Most of the apps need access to your accounts, Bank, Credit Cards, utilities etc. I personally haven’t had any issues with giving access to my accounts, but if it makes you nervous, don’t worry, there are other ways to budget. www.mint.com


50/20/30 Budget

    Forewarning, I am not familiar with this style of budgeting. It works with your monthly income. You take 50% of you income for essential bills, such as: rent, utilities, groceries, etc. 20% is for savings, emergency, retirement,etc. And last is the 30% is entertainment, cable bill, cell bill, movies, dining out etc. This way isn’t to go for paying debt down. Here is a site I found that explains this way better. www.pennypinchinmom.com


Weekly Budgeting

     If you get paid weekly this budget may be a better budget for you. Figure out what bills need to be paid on what week. Pay those bills with the check for that week. If you have multiple bills due on same week or larger bills (more than your check) then set aside a little each week. For example: Rent or Mortgage is $800 a month set aside $200 each week to pay it. It may be helpful to have a separate account to hold bill money in. https://biggimpressions.com/2016/02/07/how-to-stop-living-paycheck-to-paycheck/



As you can see there are several ways to do budgeting. Getting started is the hard part, and just like anything else, it takes time to become a habit and to stick with it. Follow me on Twitter for more other budgeting tidbits.


Next week: Savings



Brandy Rhea-Realtor

EXP Realty

(423) 364-1989

www.BrandyRheaRealty.com

Check me out on Facebook and Twitter (@BrandyRhea3)

Special Thanks My Editors:

Anastasia Rhea

Jay Milner



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Apr 2 2018 52757 1

Creating a BudgetThe first step in getting ready to buy a home is to make sure you are financially ready. For my first blog I will have some tips for budgeting, and helpful articles for you to read.

Read More