BDI International Magazine - March/April Issue

strategy of how and where you are going
to spend your money.
Home ownership is a dream that many
Americans live for; they work day and
night to turn that dream into reality.
Budgeting or managing your finances
narrows down the gap to get your dream
house. With financial planning, saving
up for a down payment becomes easier.
If buying a home is not on your list, there
are still many reasons to make a budget
plan. Creating a budget helps you:
• Make well-thought-of financial
decisions
• Overcome life uncertainties
• Step into the new year with a careful
financial plan
• Keep track of your expenses and
savings
• Pay off your debts/mortgage
Tips and Tricks to Master Your Budget
Strategy
With budgeting, you can manage your
finances more systematically. Whether
you have a budgeting app or you make
a list of financial milestones on paper,
follow these tips to master your budget
strategy.
1. Set Your Priorities Straight
Do you know that everyday Americans
spend only 2.24 minutes on managing
finances? Imagine giving less than three
minutes to manage money – one of the
key forces that make things happen in
life.
Define your priorities and make time
to keep things on track. Schedule time
to check your accounts and track your
expenses. It helps you to know your
financial net worth, i.e., your current
financial position.
Your net worth is a snippet of things you
owe and the things you own. It helps
you set realistic goals and make better
financial decisions.
2. Keep Track of Your Expenses
Calculating your expenses is crucial
to mastering your budget plan. Have
you ever thought about where your
money goes each month? Make a list
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