Budgeting and saving are two of the most important financial habits that anyone can develop. Overall having a budget and saving money can help you reach your financial goals, reduce stress, and give you peace of mind!
Budgeting means creating a plan for how you will spend and save your money. It involves tracking your income and expenses, setting financial goals, and making sure that you are living within your means. Budgets help you stay on track with your financial goals: saving for a car, home, paying down debt, or retirement.
That said, a popular goal is an Emergency Fund. Putting money into an emergency fund provides peace of mind and security incase you lose your job or have a family emergency! One of the easiest ways to do this is opening a savings account. Opening a high yield savings is even better and fast with online with banks like SoFi.
Actively tracking, and reviewing where you money goes will also help you make adjustments to meet your financial targets faster.
For more on how to build a budget and automate savings, pleas check out my other posts! You can also get started with the links on our homepage.
If you would like to check-out a few resources that helped me get into the wealth building mindset, a few links below. These are affiliate links, so I make some money if you purchase from them. You can also just read the reviews, then go rent these for FREE from your library: