Resources for Savers
Design Your Spending Plan
A spending plan matches income with expenses and financial goals. It
includes saving, spending, giving, and investing. We make spending choices
every day - with or without a plan. The best way to meet financial goals
and avoid ending up with "more month than money" is to have a spending plan.
Planning is power.
Most spending plans are annual ones.
An annual spending plan helps to smooth out the ups and downs in expenses
that occur due to periodic expenses. You may want to set up your first
spending plan for a one-month trial to see how it works.
Spending plans include all of your expenses. In addition to regular
monthly bills, you should plan ahead for periodic expenses. For example,
if car insurance premiums of $300 are due in July and December, the spending
plan should be to set aside $50 each month for car insurance.
Use the Excel spreadsheet as a template to create your own personal spending
plan.
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