It can be overwhelming to look at all the bills and other expenses that need to be paid each month. But you can avoid that feeling if you create a strategy based on your income, what you spend your money on, and all the expenses you have each month. UF/IFAS Extension Manatee County, Family and Consumer Science financial classes can give you direction and help you to figure out this puzzle. Classes are offered in English and Spanish. Tracking where your money is going and how much is spent daily, weekly and monthly is a great method to generate a spending plan. In this way they can force people to make choices in the way they spend money and to prioritize needs and wants. They can also help you live within your income if the plan that is written down on paper is carried through in real life.
TOOLS TO ORGANIZE YOUR FINANCES
The 2020/2021 Money Management Calendar provides you with tools to improve the financial wellness of your family and better manage your money! Use the budgeting and expense charts to track where your income is needed, and where it is going. Savings tips, strategies for building a spending plan, and goal development are other features that can help you cultivate the habit of good money management.
Use a Money Management Calendar – inquire about how to receive a FREE Money Management Calendar at 941-722-4524. This calendar is provided to all the participants taking a Financial Management class with UF/IFAS Extension Manatee County.
If you’d prefer to use an app to organize your finances, Simplifimoney, Dollarbird or Mint are a good ones to try.
NerdWallet is one of several websites that offers money management advice and they suggest following these five steps to better understand your expenses:
5 Steps for Tracking Your Monthly Expenses
- Check your account statements. Pinpoint your money habits by taking inventory of all of your accounts, including your checking account and all credit cards you have.
- Categorize your expenses. Start grouping your expenses.
- Use a budgeting or expense–tracking app.
- Explore other expense trackers.
- Identify room for change.
Steps Source https://www.nerdwallet.com/article/finance/tracking-monthly-expense
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