Guidance

Take inventory of how much you are saving and how much you owe. Make sure you are not spending more than you make.

Stay current on all bills and maintain manageable debt levels. Make regular payments that work with your budget.

Work with a CPA or financial advisor to determine savings needs and the life events you need to plan for such as marriage, divorce, a new child or job loss.

Take time out during the day for a walk, meditation, yoga or catching up on that book you wanted to read. Exercise, eating healthy and giving yourself a mental break can go a long way toward helping you address stress and anxiety.

Calculate your monthly income, which is the amount you take home in each paycheck as well as anything else you may receive regularly, like freelance income or child support. That’s what you’ve got to spend.

Next, add up your regular monthly expenses like utilities and groceries and student loan debt payments.

Include discretionary expenses like entertainment, dining out, vacations, etc. Don’t forget to anticipate costs that aren’t monthly but pop up regularly, like car maintenance, home repair, and holiday spending.

Once you subtract your monthly expenses from your monthly income, it’s time to decide how to spend what’s left. Whatever your choices, your budget can help you take control of your financial future.