Budgets Basics and Planning Ahead
Tax season recently came to a close and one problem in most people’s lives is money. It’s a big stress when there isn’t enough and can cause big problems at home. One big fix to this is coming up with a sensible budget.
Here at YES we always do our best to find jobs for people that they will enjoy, we try to get each employee the best pay possible. That doesn’t mean we will find the job to make you a millionaire. It is each employee’s job to manage their own money so that they can reduce stress and enjoy life a bit more.
A big problem we often run into is some companies want to pay weekly, while others want to pay every other week. For some every two weeks can get tough. Whether you are paid every week or every two weeks, you are still making the same money it’s just a matter of making a plan or a budget to survive that extra week.
Dave Ramsey is a Budgeting Ninja
A big name in the budget, and money saving field is Dave Ramsey. The way he suggests doing a budget can really help you see where you can do better.
I highly recommend you check out his guide to budgeting. Click the link!
His first step is to list out all your sources of income. This would be your paycheck, if you have a spouse, include their paycheck, any side jobs or residual income, and anything else coming in, put on the list.
After this is done, you need to put a list together of what is going out. This will include house payment (or rent), phones, car, debt, food, and all bills on the other side.
Once both are written down you need to see if there is any where that you may be over spending, eating out for example, then make plans to cut that down. For the next couple months, for every dollar spent a note should be made of where it goes. This will help you see exactly where the money is going and allow you cut out the fat.
By following those steps you will be able to make little changes and save a bit more money. Dave suggests saving up $1000 for an emergency fund. If the car unexpectedly breaks down, you can use it for that type of stuff, then you are not out a car and now relying on public transportation to get you to work. By being prepared for any situation, this will help you be more confident and stress-free in life, which can potentially help you become a more reliable employee, which is what every company is looking for!
Success in life all begins with a plan. If you just go through life hoping things will work out, they wont. A famous saying by Alan Lakein goes, “Failing to plan is planning to fail.” If you don’t have a plan for your money, it doesn’t matter if you are paid every two weeks, every week, or even every day, without a plan you will always be short and never have enough.
Account Manager | North Salt Lake, Utah Office
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