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Budgeting 101

How to create a budget:

Ways to save money:

Saying that you want to save money isn’t enough. Coming up with a plan (even a basic one) is absolutely necessary.  Ask yourself, "what am I saving for", before you put money away to save.

Set Goals

As a rule of thumb you should aim to save at least 10% of your gross income each year. That could mean 10% going into retirement or into an emergency fund. Either way, you should be putting, money away for the future. Setting up automatic deposits into your savings or investment fund forces you to stick to your plan and not give in to frivolous spending. 



Register to sit one-on-one with a Financial Coach, create an action plan and customized budget and achieve your financial goals. 

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Be real

You will find that banks will use your gross income when qualifying you for a loan. When planning for the future, be sure to take a look at your net income and take all of your monthly expenses into account.  You will be on your way to saving in no time! 

Track Expenses

You won't get a handle on how much you can save until you understand how much money you spend. Get in the habit of keeping track of all your expenses, especially small ones like coffee, snacks or drinks, Clarke advises. "These small expenses add up, and being cognizant of them will help you avoid unnecessary purchases."

Planning for the future doesn't have to be a worst-case scenario. Maybe you're saving for a vacation or buying your first home. It's never too early to start thinking about the important financial events in your life. 

Plan, Plan, Plan.

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