The foundation to any successful financial plan is a budget that is simple, functional and fluid.
By understanding your needs, wants, and the difference between the two, you have the information to lay out an excellent plan. Groceries, Shelter, Clothing, and transportation are necessities required to live and make a living. After these needs are met, you can prioritize your wants according to you principles and personal preferences. (Giving and saving are two areas that we strongly reccommend to be a part of your financial plan.)
Many budgets are quickly abandoned because they are unrealistic. Know what your expenses are and make sure that they do not exceed your income. It may sound simple, but many struggle to survive financially because they fail to live by this principle.
You have to expect course corrections in your budget. It should serve as a tool that can change as your needs change. In our experience, we’ve determined that if you can set your fixed expenses and set contols or limits on one or two areas in your budget, you can build a strong foundation for financial success.
Our team at Integrity Financial Solutions can help you craft a budget specifically designed for you and your lifestyle. Call and set up your appointment today.