Home Business How to make a simple budget to save money and pay bills

How to make a simple budget to save money and pay bills

2 min read

Budgets come in many shapes and sizes.

Don’t be discouraged if your numbers are tight at first. The more you track your spending and keep an eye on it, the better you’ll be at getting more out of your money.

There are countless free or affordable tools if you prefer tech-savvy solutions, but the 50-30-20 rule can be a quick and easy option to get your finances under control.

And it’s pretty straightforward: You split your money between your needs, wants and savings, according to those ratios.

Here’s a case study.

CNBC crunched the numbers, and we can give you an idea of what your budget should look like if you make $35,000 per year. Check out this video for a step-by-step guide to making a budget that will work for you.

More from Invest in You:
What your FICO score means and why you should pay attention
Josh Brown: How I explain the stock market vs. the economy
How insurance premiums and deductibles work

CHECK OUT: I made $1,000 by taking pictures with this easy side hustle via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Source link

Load More Related Articles
Load More By The Texas Chronicle
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Morgan Stanley: These 11 global stocks will benefit as inflation stays ‘higher for longer'

As price pressures continue to mount, Morgan Stanley has named the global stocks it thinks…