“Where should I start?” This is often a question that young people ask once they start to pay more attention to their finances. The truth is that there isn’t one initial step to take that will lay the foundation for the future of your financial health. Instead, it is a continuous process of planning and action that will aid you in better understanding your current financial situation as well as aid in planning for the future. No matter what stage you currently find yourself in regards to your own financial planning and understanding, budgeting is always key.
We are lucky because numerous tools exist today to help us budget in a way that is realistic for our day to day expenses and longer term goals. From apps, to services to old fashioned pen and paper, there is no real excuse to not have a budget.
However, the following video from Forbes touches on an important point, which is finding the “why?” behind the budgeting.