Your Finances; Your Future


Choose a service from the Budgeting category
Comprehensive Housing Counseling Services
First Time home buyers preparedness, foreclosure prevention, credit rebuilding, and financ...
Delaware Community Reinvestment Action Council Inc. (DCRAC)
Foreclosure prevention, pre-purchase counseling, credit and budget counseling. Tax Controv...
First State Community Action Agency
First State Community Action Agency's primary service is to work towards the elimination o...
NCALL Homeownership Counseling
• NCALL provides homeownership education and counseling, financial coaching, financial edu...
NCALL Research Inc.
Homeownership Education*,e-Home America (Online)*, Foreclosure Prevention, Financial Educ...
The Money School
The Money School offers FREE financial education classes and financial literacy resources ...
Can you imagine a situation where you are making huge purchases without a budget? The thought is terrifying and quite honestly, overwhelming. It's difficult to live without a budget. You need money management skills and the proper know how to reduce expenses. The following below are some budgeting tips to give you some ideas to create a stable budget for yourself.

Managing your Money is the process of budgeting, saving, investing, and spending your income. When you limit yourself to how much money you spend, you are putting that money into categories such as groceries, fuel, or an emergency fund (emergency funds are highly recommended for unexpected circumstances beyond our control). Giving your money a category means nothing unless you record your transactions. You’ll gain an idea of where all your money is going and how much of it is going to each category.

Be Realistic. One of the best budgeting tips anyone can have is to be realistic with your spending. You'll need to put serious thought into how you're going to spend your income and guesstimate how much you think you'll pay in each category. The idea is to stay as realistic as you can with your spending so that you're much more likely to stick to your budget. It’s important to remember that when you’re creating your budget to assign every dollar its own category and to think about where you know you’re going to need spending money.

Saving your Money. If you find yourself wanting to prioritize budgeting toward a big purchase like a down payment towards a new car, it's great to know some savings tips. When you are creating a budget, the new car should have a category of its own. If you're having trouble figuring out how much to put into that new category, try starting small. If you set a deadline when you want to have the money for that car down payment, calculate how much you need to put into that category each pay period. Taking all of these steps, you'll feel a lot less stress of making a large payment because you have planned for it and worked comfortably toward your goal.

Determine what you NEED and what you WANT. If you are on a tight budget, it's probably in your best interest to prioritize your needs over your wants. You want to make sure that you are budgeting for your priorities such as transportation and groceries. Frivolous activities such as eating out, going to the movies, or purchasing anything you don't need should be significantly limited. We even recommend limiting yourself to only eating out once or twice a week. When you plan your budget and are dumping money into your categories, your Need categories should come first, and if there's any money left over, you can budget your money toward your Wants category.

Creating $20 worth of fun. We all have hobbies, so why not budget for it? You won't feel nearly as guilty when splurging on something you love to do. You'll also have something fun to work toward and have immediately, rather than having to wait for multiple paychecks to invest into a large purchase. Whether it be clothes shopping, yard sales, or collecting comic books, we should be able to budget at least a little bit each paycheck to your hobby.

Reduce Expenses. There are a ton of ways to reduce your expenses. They all depend on what your current financial situation is. For example, cutting back on subscription-based services that you rarely use is a great way to give yourself more money to put into different budgeting categories. If you have a subscription service like Netflix or Hulu, and you find that you rarely use one over the other, we recommend cutting that subscription cost. You'll have one less service to pay each month and more money to distribute into different budgeting categories.

Budgeting is an incredible skill that everyone should learn when they want to get their finances on the right track. With these budgeting money tips, you’re sure to provide yourself with a comfortable lifestyle and a great financial future. When you think of budgeting it’s easy to think of it as a chore, but when you split your income into different categories, you'll limit yourself, control your spending, and reach your goals.

Or choose a service from one of these Budgeting subcategories:
Comprehensive Housing Counseling Services
First Time home buyers preparedness, foreclosure prevention, credit rebuilding, and financ...
NCALL Research Inc.
Homeownership Education*,e-Home America (Online)*, Foreclosure Prevention, Financial Educ...