Money Minute: Trimming your budget

Money Minute: Trimming your budgetMoney Minute: Trimming your budget

If your money isn’t lasting through the end of the month, then it’s time to take a look at your finances.

LSS Financial Counseling has a plan in place, and it starts with writing down what you bring home and what you spend.

Shannon Doyle with LSS Financial Counseling says their plan starts with splitting the month. Every day you have the fixed expenses like gas, groceries and clothing.

Then there are two other areas: Variable expenses and ‘What am I doing?’ — those are extras, like a birthday party or something special.

You look at three months in expenses, and it can give you an idea of where your money is really going.

Doyle says doing this exercise is hard, but it will put you in the driver’s seat of your own money.

“It’s an eye-opening experience for people to track what they are spending,” Doyle said.

You can view a copy of the cashflow planning sheet below:

Cashflow PlannerDownload
The post Money Minute: Trimming your budget first appeared on KSTP.com 5 Eyewitness News.