IN THE NEWS: How to budget money: Tackle your debt and start saving

Bankrate

MATTHEW GOLDBERG

Sept 27, 2019

No one likes to talk about or work on budgets. In fact, I’ve stopped using the word. However, Matthew Goldberg wrote an article with some great tips on how to control your budget and stop letting it control you.

“When budgeting, it’s easy to forget to add in expenses that don’t occur every month. For instance, if you’re paying your auto insurance semi-annually to save money, you should divide this into a monthly budget item. Budgeting to save for holiday presents on a monthly basis, for instance, is another way to be prepared for these expenses, says Ashley H. Coake, certified financial planner at Cultivate Financial Planning in Radford, Virginia.

“Set that money aside in your savings account or somewhere where you’re not going to spend it,” Coake says. “You know that that money has a purpose and that there’s an expense coming up for it. But don’t wait until the six months [are up] and then try to scramble to find the premium amount.””