Raise your hand if you’ve ever made this resolution before: This year, I vow to take control of my money. Now raise your other hand if, once again last year, you failed to exert the kind of budget control you wanted. This can be the year you get control.
There are lots of ways to budget, and you can find people to argue vehemently in favor of their favorite strategy. Our Living on the Cheap team of writers have outlined a variety of tactics to help you keep track of your money and thereby keep more of it in your pocket.
We look in more depth at three budget strategies:
- How to create a quick and easy budget on paper. You’ll see where your money goes, and you won’t have to spend time setting up software.
- How to create a budget spreadsheet. Putting everything together will help you find and fix your money leaks.
- How to budget with the envelope system. This system uses cash and lets you “see” where your money goes.
Even if you’re already in control of your budget, the new year is a great time to evaluate the organization of your entire financial life. Take a look at your investments, your bill-paying strategy, your estate plan. Check out 10 ways to organize your financial life in the new year.