MS-A1735Hamline University1536 Hewitt AvenueSaint Paul, MN 55104
Can’t stay on budget? Try this tip: operate in cash for a month.We spend 12% - 18% more when we pay with plastic. After your budget for the month is set, make an envelope for each budget category and then take cash out of your account and divvy it up in the envelopes. When the money is gone from the envelope, you are done spending. And don’t cheat by borrowing from another envelope, you are only cheating yourself.
Read moreNovember 23
Budgeting Fundamentals: Identify a goal for your budgeting and use your budget to meet that goal.Paying off debt? Saving to build an emergency fund or buy a car? Budgeting to just get by? What’s your budgeting goal?
Read moreNovember 16
Want to set up a budget online?Read this article on the best online budgeting sites: Keeping it simple? Use a notebook or an excel spreadsheet for real hands-on budgeting.
Read moreNovember 9
Too many budget categories? Keep it simple.When creating your budget categories, less is best. Include a category for each bill, and then try the following three categories for the remaining (variable expenses): Home Supplies, Fun Money, Groceries. Pretty much everything you buy can fit into one of these three categories. A sampling of home supplies: shoe rack for the closet, cleaning supplies for the kitchen, toiletries in the bathroom, an alarm clock for the bedroom.
Read moreNovember 2
Before you build your budget: Get an emergency fund first.The cat may get sick, your computer may crash. Don’t let emergencies derail your financial plans. Have an emergency fund at the ready. A good starting emergency fund to aim for is $1,000.
Read moreOctober 26
First step to building a budget: know what you spend.Use your bank statements, keep receipts for a month, or try one of the cool online budgeting tools like Wesabe.com or mint.com to figure out where you spend your money. Then categorize accordingly. Plan to track your spending (or look back at it) for three months of spending history.
Read moreOctober 12
Save first, and then spend.Cutting your spending to fit into a budget can be hard. It’s a lot easier to put it on the credit card and pay later. But try this tactic: save first, and then spend. If that “gotta-have-it” something is on your radar start saving up for it and when it comes out, buy away! You’ll start the healthy habit by learning how to save first, spend later.
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1536 Hewitt Avenue - Saint Paul, MN 55104-1284