Village Resolutions: Develop a Budget

I wonder why we only talk about resolutions at the beginning of each new year. Shouldn't resolutions be at the forefront of our thinking on a regular basis? Last week, we suggested that it is important for all villagers to set specific financial goals.

This week we remind all villagers about the importance of developing a budget. After all, the first step in developing a smart savings plan is to put together a budget. Make it simple. Begin by totaling all your income -- wages, salaries, dividends, interest and other regular income.

Next, list two types of expenses: Those which are fixed each month and those which vary.

Once you know how you're spending your money, take a look at those variable expenses that can be reduced or eliminated.

I hope that these reminders are helping you as much as they are helping me! Do you have a budget up & running right now?

Village Resolutions: Financial Goals

Often we wait until New Year's Eve to make resolutions on important life goals. I was thinking it might be good to review our resolutions throughout the year. One of the major goals that all villagers should consider is:



Set Specific Financial Goals
Think about any unusual expenses you may incur or big-ticket items you need to purchase in the coming months. Start saving for such items now, not when it's time to pay the bill. This is as good a time as any to set an annual savings goal, such as ten percent of your salary.

Do you have financial goals in place? What say u?