How to Live Within Your Budget

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Living within a budget is not difficult to do, but it's helpful to make a ledger with fixed expenses, variable expenses and income. Find out how to revisit a budget with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser Patrick Munro talking about how to live within your budget. Living within your budget is not hard to do but you must make conscious steps to develop a system. Now I like to say a system saves you time, energy and money and the best way to setup is a ledger that shows your fixed expenses, your variable expenses and your income. And of course list them out. And visit them every week when you pay your bills in a timely fashion. Once this is done and you make a conscious decision not to spend excess dollars are not in your budget, you'll be living within your budget and it makes it feel good because you setup that time frame and that matrix for yourself and the benefits from that is if you pay yourself first, we always say that in the financial planning business, then those payments will accrue and grow over time so that you will have wealth at the other end of life. It's very, very key. But it's important to live within the budget that you have setup for yourself. This is financial planner Patrick Munro talking about how to live within your budget.

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