We are moving into the Second Quarter, and those New Year’s resolutions are being gradually completed. The objective for the First Quarter might have been paying off those Christmas bills and some other debts. The COVID-10 stimulus checks helped, and now is a great time to address another 2021 goal, which could be putting the domestic finances in order.
The best way to put some structure to the personal cash is to develop a budget. Let’s face it, living from paycheck to paycheck is a recipe for stress. The employee does not have any way of sensibly meeting credit card payments or other incidental expenses if there is no budget in place.
That person may end up relying too much on credit cards. Budget less households are not ready for any emergencies and do not put money aside for the future. A big challenge is that these people have never worked with a budget and need help creating one. Continue reading