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Shopper's Market: Creating a Budget

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Making a budget might seem confining that are realistic spending plan could be just what many folks need right now.

Personal finance expert Lauren Adams also known as money girl is the author of smart moves to grow rich.

She says close to 60% of people have no idea where their money is -- -- That's really scary thing because without knowing where your money is going.

You don't have the ability to pull -- any discretionary income for savings or investments to build wealth.

Adams says you first need to create what she calls you're spending baseline.

Three to six months to see where your dollars went if you don't know what you've been doing in the past is really difficult to improve upon that.

Then determined spending categories.

It can be as simple as you want it to be the goal is just to create categories that you -- -- track.

Going forward on a monthly basis next figure percentages of your income being funneled into those categories.

Gives you a good fans -- how much you're spending for the big thing the dining and how thing.

All of the the things that you wanna track after you had your categories and spending percentages.

Analyze your baseline.

-- wanna see am I happy with that you know do I like the amount that I -- saving for retirement is there enough there.

That I putting away for an emergency fund or even for fun things like a vacation -- says the last step is to prioritize.

Spending going forward with new monthly guidelines.

You can see more of Adam's advice -- quick and dirty tips dot com.

In you are Brenda Buttner Fox News.