How to make a budget | Nerds on Money

Making and following a budget can seem hard. But this step-by-step guide shows you the basics of budgeting to help you reach financial security and stop worrying about money.

TVO Today affordability reporter Kat Eschner offers a primer on how to track how you’re spending your money. She’ll show you how that can help you learn how to stop spending, assess your own finances, and reach financial goals, such as buying a new house or car, saving up for a vacation, or pay down your debts.

One thing to do is go through your bank statements and credit card statements, and highlight where your money is going. That can show you places where you can maybe save money, such as that subscription you keep meeting to cancel.

She also suggests considering online tools that can help you monitor your spending.

And she warns: Don’t beat yourself up. We live in a very unequal society with high levels of income inequality. Not everyone finds budgeting as easy, partly because not everyone has access to the same financial resources. So before you budget, give yourself a break.

This short Nerds on Money video is a good explainer for anyone interested in budgets and budgeting, spending, saving, personal finance, and financial literacy.

Click here to read Kat’s article on how to make a budget (and actually stick to it):

https://www.tvo.org/article/easy-money-how-to-make-a-budget-and-actually-stick-to-it-in-2023

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Видео How to make a budget | Nerds on Money канала The Agenda | TVO Today