Building a Budget – Maintaining Your Budget Long-Term
The budget you’ve constructed is only going to be useful if it can stand the test of time. You need to maintain and adjust your budget periodically to make sure it continues to work. Watch this video to learn how to do routine budget maintenance.
Your financial house needs regular maintenance.
If you see that things aren’t fitting together quite right, then you need to make some adjustments. If this happens, don’t be alarmed, your budget changes over time, just like you do.
And if you have a new expense that you need to add in, look to remove or scale back some discretionary expenses first.
<ON-SCREEN TEXT: holidays, birthdays, vacations, school, marriage, children, retirement>
And always build in additional savings first.
Once you have a solid house with well-stacked savings and no debt, you can start indulging in those luxury additions that you want.
Because with the right team behind you, you can build the best financial house for your needs.