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One of the best moves to make when the economic situation becomes uncertain is to get your personal finances in order. And the only way to make that happen is to determine where your money is going and then develop a plan for spending that is optimal for your current situation. That’s where the budget comes in to play, it’s the roadmap to how you want your month to go financially. There are a few key steps to building a good budget.

As the state and the nation continue to grapple with the effects of COVID-19 there is a growing impact on the economy and the financial well-being of individuals. There are a few questions that can help you decide what your course of action should be during these challenging economic times.
 

As your financial situation changes, it is important to remember that your issues will require planning followed by a series of detailed actions. Often times before getting into detailed planning it is helpful to start with a bigger picture strategy. This can provide the proper focus to select the proper tactical objectives and actions to consider. The SIMPLE approach is one that can give you a great place to start and provide a framework for next steps.
 

Developing and using a budget can be an important financial step for anyone to take no matter where they are in their financial life. Budgets don’t have to be complex using spreadsheets and formulas, sometimes simple is really better.
 

Disagreements about money can be an underlying issue for relationship difficulties. Too often couples don’t talk about financial matters until months or years into a serious relationship. They also never establish short or long term goals or be honest with each other regarding the annoying money habits of the other.

The amount and type of debt a person has accumulated is directly linked to that person’s current financial wellbeing. Too much debt can be financially debilitating and not using debt can keep a person from moving forward. Fortunately, managing debt wisely isn’t difficult and it can change your financial outlook.
 

Making financial resolutions each year is an exercise almost all of us do. Unfortunately, we often make vague and hard to measure resolutions. Without specific goals, follow thru is very difficult and without actionable goals, resolutions tend to never move past the proclamation stage.
 

If you want to teach your kids smart money moves, using the holidays is a great place to start and it might start with you remembering what those smart moves really should be this time of year. The holidays have so many opportunities to see and practice smart money management.
 

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