How to budget your money for a year

Having a birds-eye view of your money will help you realize its potential
2:52 | 01/25/21

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Transcript for How to budget your money for a year
This budgeting that will change your life. It's the one. Walk you through how to do it. It's important have a one year spending plan he didn't end there it hired here. There's a bigger impact your financial goals into the stadium things that matter seamless plus know aren't getting caught off guard by. Senator how quickly your when your spending plan. Step one think about the vision that you have for you realize that's to be reflected in this plan that you're creating right now. Step to add your income so take your take home pay annually divide that by twelve. And then Clinton sat in for each month. Yeah. Step three after mandatory monthly expenses. And. Step toward calculate your monthly budgets. To calculate this you take your income is attacked your monthly expense. Your monthly budget surplus to the amount of money that you haven't every month to put toys your big financial goals. And towards your lifestyle goals like maybe taking a family vacation few months. But without all of your financial goals how much they're trying to cost and when you want to reach the night. That six. Your focus schools teach here but this is where you take the list of financial goals created and that before and choose which priorities you want to focus on this here for example. If you wanna spend 7000 dollars on a family vacation into why. Well you divide that by sentiment and set aside a thousand dollars a month until July. That's something I don't view myself spending so these are the categories in your budget reviews and for fun to enhance your dvd like. They ate and I was that it between your budget as ago want. He'll when the plant gets sick it's meant to be a landing party the spending plan for your life and you get to decided if you want teens spend more in one category or less in another category and any given month. So that's how you create your first one yesterday. It's a great way for you to take up. And really see what's possible for you kind of life that your money and help create if you plan for it. Give it a shot I promise you it is going to change.

This transcript has been automatically generated and may not be 100% accurate.

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