How to Make a Budget That Works

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A budget should be comfortable and organized, and the best way to achieve this is by setting up a manual ledger. Keep documentation of a budget to make it work 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 make a budget that works. A budget is one that you're comfortable with, and has some wiggle room in it, because life is unpredictable. But there should be certain constance in your budget, and the way to set that up is get a system, a ledger if you will, manual book that has a a columns in it, like these three columns: fixed expenses, such things as rent, student loans, installment loans, things that nature. Variable expenses, those are credit cards, various other items that fluctuate from time to time, and of then of course, your income. That too can be variable but many times is fixed. Always make sure you live within your means and try to lower your bills at all times. This is the best way to make your budget work. This is Patrick Munro, financial adviser, talking about the best way to make your budget work.

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