Hi, this is Doug Benson on behalf of Expert Village. I’m going to show you how to balanceyour checkbook and as a result become a better manager of household finances. Tracking yourspending is the first step to establishing a budget.
Start with the known items the fixedcosts up to this point you have been looking at the transaction history. You probably startedto see some trends; the best way to look for is to examine path backwards and see whathas worked or not work for you in the past. You can use your previous spending habits HGTV Smart Home 2017 – Tour the Master Bedroom to help you establish a budget. If you’re head of the household this isn’t going tobe too difficult, if you live in a situation where more than one adult is going to be effected you’ll need to establish a budget that works well for everyone. Communication is the keyand compromise may need to be used. A good rule of thumb for setting up the budget isto start with some priorities, housing, food, clothing and transportation should be takencare of first. Then as money allows set aside money for savings, entertainment, eating outand future purchases.
Another good thing to remember is after you set up your budget you’regoing to find out that it didn’t work the first month. Be ready to change it for thesecond month, the third or even the fourth month. As time goes on you’ll find that you Hi! My name is Anneka on behalf of expertvillage.com, and in this clip I will be showing you how to use a foo… need to make fewer and fewer changes. Try to stay flexible, be ready to make adjustmentsalong the way but remember to involve everyone who helps you set up the budget in the first place, their input are still valuable and they should be included in the process. Havinga clear financial plan that everyone agrees to will help you minimize conflict and allowyou to plan for the future. Watch my next segment as we continue to learn more aboutbalancing your checkbook and becoming a better manager of household finances.