Living on a Budget
By: Laura Simon
Updated: January 2, 2013
JOPLIN, MO.--- Client adviser Garrett Taylor says it's important to stay realistic with your goals. You should keep track of every dollar you spend so you know where your money is going. A great way to get started is to track your expenses for 30 days.
After paying your bills and household necessities, he says use your disposable income wisely. Set monthly allowances for entertainment costs, like shopping and dining out. Taylor says the new year is a great time to start saving for your future.
"If you do that several years in a row, you don't notice it as much, but at the end of 4 or 5 years, you've got quite a significant contribution going into your retirement plan," states Garrett Taylor, CFP Client Advisor at Arvest Bank.
Taylor says the new year is also a great time to review your existing insurance policies and shop around for less expensive options.
After paying your bills and household necessities, he says use your disposable income wisely. Set monthly allowances for entertainment costs, like shopping and dining out. Taylor says the new year is a great time to start saving for your future.
"If you do that several years in a row, you don't notice it as much, but at the end of 4 or 5 years, you've got quite a significant contribution going into your retirement plan," states Garrett Taylor, CFP Client Advisor at Arvest Bank.
Taylor says the new year is also a great time to review your existing insurance policies and shop around for less expensive options.
