![]() With a realistic monthly budget that balances needs and wants, you'll understand where all your money goes and determine where you might free up money for key goals you want to pursue, like a vacation or down payment on a home.īudgets will change when major life changes happen, and even small events may alter them. But if you don't include it, you won't stick to your budget, and you'll end up hating it. You want to budget for fun, but not to the point of undermining your ability to meet important goals.įun absolutely should be a line item in everyone's budget, even if it's smaller than you'd like, based on your financial situation. ![]() Tracking expenses over time lets you determine realistic averages for necessary items like rent or utility bills and discretionary items like eating out or date nights. For example, don't set an unrealistic budget of $20 per month for necessary items like groceries.īy tracking spending habits over time, you can find some natural averages that work out. Knowing your spending habits can help you create a more realistic budget to help you reach your investing goals.
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