How to Make a Budget - 5 Steps to Success - Budgeting - Married Fun!

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How to Make a Budget - 5 Steps to Success

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Budgeting money is considered a financially responsible move for married couples who want to not only save money, but have some left over to spend. Unfortunately many people tend to live paycheck-to-paycheck and have little or nothing left over at the end of the month after expenses. These people are often left wondering where all the money has gone. Making a budget not only allows you to see where the money is going, but what is really left over. A budget will also serve as a guideline for prioritizing expenditures. It is a good idea for married couples to make a budget together and continually have open communication about finances and how the budget is working. Here are 5 steps to making a budget that you can go through together.

Step 1: The Set Up

When creating a budget, it's a good idea to start by writing down your overall target goal for creating a budget. What is the purpose? Certainly you want to live within your means and avoid unneccesary debt. Do you want to save for emergencies and your future retirement? Do you also want to save extra money in addition to these purposes? Is there something specific the extra money is ultimately going towards? Often times, people will create a budget to assist in saving for large purchases such as a vacation, a new home or a car. 

Step 2: Make a List

When making a budget, be sure to be specific. Daily expenses can add up, as can smaller bills such as dry cleaning and ...

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