Financial experts say that by using creative methods to dial in a budget and trim costs in some areas, you can often still find ways to spend on what is most important to you.
When Tom Snyder coaches people in his church about how to budget, he starts by encouraging them to track their spending.
"If we don't track, we don't know when to stop spending," he said. The retired engineer and financial coach in Grand Rapids, Michigan, adds that it's easy to be bumped off track by irregular costs, such as birthday gifts or vacations.is all about staying flexible so you can handle those irregular costs as well as unexpected challenges, including sky-high grocery store prices or rising interest rates.
Bryan, who holds a doctorate in business administration, likes to track her spending with spreadsheets, but her college-age daughter prefers a more creative approach with visuals and graphs. They each use their preferred method, then communicate about spending when necessary."It has to be a method you enjoy so you want to use it all the time," she said.
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