Building a Budget – Set Your Foundation
To build any stable structure, you need the strongest foundation possible. In terms of a budget, that foundation is income. Watch this video to learn how to account for income correctly in your budget so you can build from there.
If you want to live in a stable financial world, you need to build a budget.
A budget provides the structure you need to live in financial security.
Building a budget that will stand the test of time starts with a solid foundation.
In a budget, that’s your household income.
Income can be mined from a number of sources
<ON-SCREEN TEXT IN BULLETS: paycheques, part-time employment, business profits, investment dividends, child support, government benefits>
The more income you have, the more stable your budget will be
You’ll also be able to expand and support more expenses
But always remember that you can only build up expenses that your foundation can support
If you stack too many expenses up, your financial house can topple.
Always remember to build based on the income that you have and not what you hope to have or what you might be able to borrow
That way, you ensure you can maintain stability.