Maintaining a Budget

Video Transcript

"Hi! This is Alfred on behalf of Expert Village. The key to budgeting is maintaining simple but good records. Just like you did when you started your budget, you'll need to keep track of where your money comes from and where it goes. Use the system that works best for you by writing down what you spend in a notebook or keeping receipts for what you buy. At the end of each month, compare your actual expenses to your budget. Try to keep your spending within your plan and look for ways to cut your expenses. Don't give up if maintaining your budget is hard for the first few months. It may take some time to set up a plan that works for you. If your budget is not working for you, fix it so that it will. Software like Quicken can help as we discussed earlier. "