5 Steps to Smart Saving and Spending
- Get a true picture of how you spend your money. To help find where your money goes, save all your receipts or track all purchases with your cell phone for at least two weeks. Then, group your expenses into categories, such as entertainment, transportation, food, clothing, and gifts. Figure out how much you're spending each week, month, and year. Click here to learn about MoneyDesktop! It can help your create and stick to a budget. Login to It'sMe247 and click on the "Personal Finance" tab
- Make a list of your income. Write down what you earn from jobs, gifts, and any other sources. Calculate what you make each week, month, and year.
- Evaluate your situation. Do your income and expenses even out? Are you spending more than you're making? Do you have money to spare?
- Create a spending and saving plan. Figure out how much you need to save each month to reach your goals. Then decide how you'll come up with this money.
America's Credit Unions & Credit Union National Association. (1994-2015). Guide To Money. Get ahead of the game. USA: Credit Union National Association Inc.
« Return to "ICCU Blog"