UAW MO-KAN FEDERAL CREDIT UNION
Home Kids About Us News Letter Contacts Loan Rates
 Phone (913) 342-0293 Fax (913) 321-5286
 

Easy Steps to Creating a Budget and Making it Stick
 
One of the easiest ways to relieve the anxiety associated with finances is to create a plan.  A basic financial plan, a budget, is easy to create and can save a lifetime of worry and anxiety.  Follow the basic guidelines below as a first step to financial freedom.
 
Track spending for a month.  To set a budget, you must first know where your spending occurs.  Use this as a guide for allocating your money each month.
 
Pay yourself first.  The easiest way to save money is to have it automatically deducted into a savings account.  The general rule is to save 10 percent of your monthly income for emergencies, retirement and other investment funds.
 
Prioritize spending.  Determine what is most important to you and allocate a certain amount of money each month toward that expense item.
 
Make the numbers stick.  Use cash for daily spending.  Debit and credit cards make it easy to blow your budget.  Using cash for daily spending allows you to make a conscious financial decision based on your budgeted expenses.  If you only have as much money as you have budgeted, you will not be tempted to overspend.
 
Tackle credit card debt.  paying down the balances on your credit cards will allow you to save money in interest payments.
 
Build an emergency savings account.  Save enough money each month to build a reserve of 3 to 6 months of your salary for emergency situations.  This will help cushion your finances and aid in financial freedom.
 
Live within your means.  Overspending your budget will leave you anxious and challenge your financial confidence.  Make healthy choices with the money you have. 
 
We are located at 3254 Brinkerhoff Road in Kansas City Kansas
Hosting & Design Services provided by Advanced Web Consulting