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'B' is for Budget

Manage Your Money

Money management means you control your money, it doesn’t control you. It’s about ensuring that each dollar goes where you decide it should. This process is called budgeting. There is no one ‘right’ way to budget. Different systems work better for different people. The most important thing is to use a budgeting system that works for you and one that you will be able to stick to.

  • There are three types of budget planners

    • ‘Once is enough’

    • ‘Look, don’t touch’

    • ‘Take control’

  • Realism is important in all facets of budget planning

  • Be honest

  • Decide what’s important for you

  • Place a high priority on regular savings

  • Understand that even if you have a budget, unexpected things will happen

  • Set yourself up for success, not failure

  • Manage your debt

  • Use all the resources available to you


For more information, you can view our budgeting guidelines here. Additionally, our booklet, A Lifelong Journey, has much more information about budgeting, money management, and investing. 

 
 
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