![]() ![]() A traditional recommendation for an emergency fund is enough money to cover 3-6 months worth of living expenses. If you nd that you’re spending more than you earn, reduce expenses or increase income. Begin with a 20/50/30 budget and adjust from there based on your unique situation. Losing your job, a trip to the emergency room, etc. Budget Worksheet A budget is the rst step to spending less than you earn and reaching your nancial goals. Emergency Fund: Life happens, better start preparing now.Back to school expenses, car repairs, insurance premiums, home repairs, property taxes, etc. Sinking Funds: Sinking funds can help you stay on budget by allowing you to plan for irregular expenses.Financial Goals you want to meet in 5+ years. Long Term Goals: These goals would be for things like buying a house, sending your children to college, etc.Financial goals you want to meet in the next 5 years. Short Term Goals: These goals would be for things like buying a car, going on vacation, etc. ![]() Retirement: Unless you are banking the entirety of your retirement years on social security you need to have a plan to save for your future so you won’t be forced into working in your senior years.Some areas you should consider saving for: Planning ahead for your money is an important part of securing your financial future and getting ahead of potential financial disaster.
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