It’s a new year. It’s a new you. It’s a new plan for your money. It’s time to create a budget for 2024!

Regardless of what your financial goals are for the year, a strong budget can help you reach them. So here are a couple of tips to setting a realistic budget.  Please share this with your friends who are trying to save for a new home next year.

#1 Take a Look At Last Year

I always suggest the first thing you do is look at last year’s expenses. This will give you a good starting point on what bills to expect, what areas to cut back in, and what to prioritize in the new year. Auditing your credit card statements and creating a list of regular checking debits is a great place to start when finding your baseline budget.

#2 Cut Back Your Expenses

It’s SO easy to get sucked into subscriptions or forget about those small but meaningful weekly expenses that you indulge in. This is a great opportunity to go through your expenses and cut back on the ones you can do without! Using an app that connects to your back account like TrueBill can really help you see the forest for the trees here.

And finally... #3 Set Some Goals and Stick to Them!

If you’re prioritizing your savings account, set your main goal, then break that goal down into monthly payments. If you’re trying to cut back on eating out every week, find a meal planning resource that can help you rediscover your love of cooking at home. With the right support and foundation, I know you can do it!

Whatever your goals, good budget requires planning and patience. I definitely recommend using a budgeting app like TrueBill or Mint. They connect to all of your accounts and allow you to get a top-down view of your entire financial situation. It’s within these apps that you can set smaller budgets for your individual categories of spending, so you’ll be able to narrow down exactly where you need to focus your attention and discipline.

Those are my suggestions, do you have any of your own? What resources have you used in the past that have helped you tame your own personal financial beast? I’d love to hear about them!

Thanks for watching!

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