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Why Everyone Needs a Budget

Posted on Monday, March 23, 2020 in Articles

Why Everyone Needs a Budget

Establishing a budget and staying with it isn’t easy, but it’s the best way to be in control of your finances and make sure your money is going to the expenses that matter most to you. Having a budget gives you a big picture view of your finances. Budgets help you focus on your priorities and avoid unnecessary spending. This sense of control can reduce your stress and get you closer to reaching your financial goals.

It is important to identify your personal financial goals before you start the process of creating your budget, since the reasons you're budgeting may impact choices you make during the planning. Studies show just the action of creating a budget makes it more likely goals will be achieved because the process of hashing out the numbers creates an emotional investment, enhances motivation, and discourages cheating. With an established monthly budget you can save money, establish healthy financial habits and be more prepared for unexpected expenses.

First National Bank has created FNB U, to provide you with short interactive courses to help you take positive steps toward reaching your financial goals. Understand how credit scores and reports work and how you can achieve your financial goals with the Creating a Budget course.

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