To help you feel more in control of your money, consider a simple budgeting plan.
An easy starting point is the 50/30/20 rule. Allocate about 50% of your income to needs such as housing and groceries, 30% to wants — like dining out and streaming services and 20% to saving or paying down debt. It’s a framework you can adjust as your life changes.
If you’re not sure where your money goes, just observe for a few months. Check your accounts without judgment, noting money coming in and going out.
Then, take small steps. Even 15 minutes a week reviewing your spending can make the process feel less daunting. Budgeting apps can help, whether you prefer automatic tracking or a more hands-on approach. To stay on track, substituting or reducing expenses, creating more income as needed or adding a small cushion for unexpected expenses can help.
Simple steps can make budgeting feel more manageable, and you can better align your money with what really matters.
Jacob Anderson / Financial Advisor / 28200 HWY 189 Suite 03-160 / Lake Arrowhead, CA 92352 PH: (909) 337-8188. This content was provided by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC.
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