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In this segment of our budget series, Linda talks about how to create a budget that is right for your needs. When creating a budget, it is often best to take the average of your living expenses for the last three months and compare that to your monthly take-home pay. If your expenses are less than your income, you’re in good shape. However, it is also important to factor in things like savings, retirement planning, and emergency funds. Just breaking even isn’t enough.
Obviously everyone’s situation is different but the one thing we all have in common is the need for a budget. Start building your budget today.