7 Things Every Albertan Should Know About Budgeting

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7 Things Every Albertan Should Know About
Budgeting
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• About Us

• We at Credit720 work for you in a similar way
  just as your Tax Consultant or Accountant.
• You hire our expert advice in debt negotiations
  as we help protecting your assets and
  safeguarding your rights as our esteemed client.
• At Credit720, our goal is to protect your best
  self-interest and not the creditors. Debt
  Consolidation, Consumer Proposal - Calgary
  Edmonton Region.

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• 7 Things Every Albertan Should Know About
  Budgeting

• Albertans are friendly folk but beware of impulse
  buys. Yes in Alberta, you need to understand the
  importance of a balanced budget.
• Whether youre fighting the winter blues or
  enjoying the summer festivals, saving for a
  house, planning for retirement, or just trying to
  make ends meet, budgeting is key.
• Here are 7 budgeting tips every Albertan should
  know when getting their finances in order

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• 1. Log Your Expenses
• Knowledge is power! Budgeting monthly income and
  expenses is based on knowing where your money is
  going first. Log your monthly income and expenses
  with a budgeting tool, spreadsheet, or pen and
  paper. Divide your expenses (rent/mortgage,
  groceries, entertainment, etc.) to see where you
  can cut back.
• 2. Create a Budget and Stick to It
• Now that you have a picture of your expenses,
  break your income into categories and create a
  budget. Housing, utilities, and groceries are the
  necessities. Then transportation, debt payments,
  and savings goals.

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• 3. Pay off Debt
• Saying no is a budgeting superpower. Before you
  spend ask yourself, Do I need this, or just want
  it? Can you wait for a sale, borrow it from a
  friend, or discover a less expensive alternative?
  Put your needs first and stick to your spending
  plan. Pay off any outstanding debt in an orderly
  fashion.
• 4. Save for Emergencies
• An emergency fund is important for protecting
  yourself from unexpected expenses like medical
  bills, car repairs, or job loss. Set up to save
  3-6 months worth of living costs in a liquid,
  easily accessible account, such as a savings
  account or a high-interest savings account.

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• 5. Use Albertas Free Resources
• Albertans are resourceful! Luckily, there are
  tones of free resources available to help you
  with budgeting. Money Mentors is a non-profit
  organization that offers free financial education
  programs and online resources. Many libraries
  offer financial literacy workshops and budgeting
  tools. Take advantage of these free services!
• 6. Automate Your Finances
• Set it and forget it! Albertans are busy!
  Automate your finances to stay on track. Set up
  automatic transfers for savings goals and bill
  payments. A lot of people pay their bills with a
  credit card.

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• 7. Review and Adjust Regularly
• It is important to regularly review your budget
  as financial situations are dynamic and change
  over time, do this on a monthly basis for best
  results check how far you have progressed in
  savings goals any changes in your paycheque or
  bills should not catch you off guard since you
  can make adjustments as needed.
• Bonus Tip
• Review your budget on a regular basis, ideally
  ones in a month. Adjust your expenses according
  to your income. Remember, a budget is a living
  document, not a rulebook. So grab a coffee (or a
  local craft beer!), write down your budget, and
  start your journey to financial freedom!

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• Try to allocate 50 of your income for needs,
  including debt minimums. Leave 30 of your income
  for wants and commit 20 of your income to
  savings and debt repayment beyond minimums. The
  below chart will help you to categorize your
  budget
• By following the above tips, every Albertan can
  take control of their finances and reach their
  financial goals.
• For further information on budgeting and
  financial management, consider exploring
  resources like the Alberta governments official
  website on financial literacy. So many budgeting
  services providers are there to help you,
  considering Credit 720 the finest budgeting
  services in Alberta.

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