Planning for the future starts with budgeting. This is a term many people do not like to hear but it necessary when you have something to save for or if you are trying to get out of debt. Budgeting is the beginning of you becoming financially sound and being a good steward over your money.
There are several ways you can begin budgeting and planning for the future and we will discuss 5 ways below:
1. Creating a list of monthly income – It all starts with making a list of all of your monthly guaranteed income. This is the money you make from your job, investments, and/or other residual income opportunities. This is the money that you know you will generate every month. When you create this list you will get a clear idea of what you have coming in monthly and what you have to spend.