Creating a budget may seem like a daunting task, but it doesn’t have to be. Learn about the tools and techniques that can help simplify budgeting and help you reach your financial goals.
Options for people who don’t like to budget →Feeling overwhelmed by money worries? Whatever your circumstances, there are ways to get through these tough economic times, ease stress and anxiety, and regain control of your finances.
Coping with Financial Stress →Try building better money habits with these five conversation starters
5 conversation starters to build better money habits →This was originally posted on the Voronoi app. Families in the top five most expensive U.S. states require an annual income exceeding $270,000 to live comfortably. This visualization illustrates the income necessary for two working adults with two children to maintain a comfortable lifestyle in each state.
The income a family needs to live comfortably in every U.S. State →The “budget” has been known to make people cringe, cry, and bury their heads in the sand, but budgeting challenges don’t have to keep you from getting the job done. Budgets are just a set of guidelines to help you manage your money.
3 Common Budgeting Challenges to Overcome →The average vacation for one person in the United States costs about $1,986 per week. A vacation for two people will typically cost around $3,971 per week, according to Pacaso.
Use Neontra's free Vacation Calculator to budget and help you plan your next trip by estimating the total travel costs →How to plan your dream vacation
NPR Life Kit: Overcome that planning inertia and take the big trip of your dreams →Whether you're a first-year student finding your independence or a senior preparing for the next chapter of your life, budgeting is vital to financial success.
Budgeting Tips for College Students: A Step-by-Step Guide →This graphic illustrates the history of the U.S. federal minimum wage using data compiled by Statista, in both nominal and real (inflation-adjusted) terms. The federal minimum wage was raised to $7.25 per hour in July 2009, where it has remained ever since.
Nominal vs. Real Value of the U.S. Federal Minimum Wage →Faced with a $1,000 emergency, most Americans say they wouldn't have the money
Neontra's Health Check monitors how your emergency savings are tracking →TikTokers are trying to save more money in 2024 with the help of the new “loud budgeting” trend
Find out if this trend can help you reach your financial goals from Jasmin Suknanan →Americans spend $779 on food per month, with almost two-thirds being spent on groceries ($475) and the rest on eating out ($303), according to the Bureau of Labor Statistics' Consumer Expenditure Survey.
American Households' Average Monthly Expenses →If you’re looking to create a personal budget, start with these six steps
Average household earnings in 2022 were $94,003, while average total expenditures for the year were $72,967, according to the Bureau of Labor Statistics' Consumer Expenditure Survey.
American Households' Average Monthly Expenses: $6,081 →7 tips to save money on family expenses from Discover
When to make a budget:
Tips to stay within your budget
Review your spending plan from time to time. If you find that your actual expenditure frequently deviates from your budget, update your estimates to be more realistic.
Total Credit Card Debt Reaches $1 Trillion: 5 Ways to Get Out of Debt by Evelyn Waugh
Here are 5 steps to get out of debt:
Four Tips For Budgeting In The Modern World from Liz Frazier @Forbes
The word "budget" means different things to different people. You might think of budgeting (or "living on a budget") as living below a certain standard or not being able to afford the things you want. On the other hand, you might think of budgeting as a tool to prioritize your spending, and to help determine and reach your financial goals.
Northwestern University on Financial Wellness and Money 101 →Finding the balance between your needs, wants and savings can be difficult. Forbes highlights seven simple steps for creating and managing a successful monthly budget.
How To Budget In 7 Simple Steps →The new year is a great time to update your budget, say financial experts. Here's what you can do to curb your spending, save for emergencies and keep your investments on track.
NPR Life Kit Podcast: Refresh your budget with these simple finance tips →5 Tips To Fix Your Finances And Build A Budget That Works In 2024
Bernadette Joy of Forbes on five tips to help you build a budget you can actually live with in 2024 →9 financial New Year’s resolutions to set now and achieve in the new year from Alexandria White
6 expert tips to help you create a holiday budget you can live with
Select spoke with money experts for their best advice on how to stay on track →According to the National Retail Federation (NRF), the average American planned to spend $826 in 2022 on Christmas gifts, food, and decorations. Of that $826 dollars, around $500 are spent on gifts for family members.
Budget for all your holiday spending and ensure don't spend too much →5 Tips for Low-Effort Budgeting from Experian
Here are five low-effort budgeting tips to make sticking with a budget less work:
The zero-based budget Sometimes called a zero-sum budget, is when your total income, minus your expenses, equals zero.
Zero-based budgeting: What it is and how it can help you hit your money goals →Tired of overspending? Want to cut expenses without giving up your favorite things? Here are a variety of creative ways to save money on everything from food to getting married.
31 Creative Ways To Save Money from Forbes ADVISOR →Richard Jenkins, financial journalist and author of A Simpler Way to Save: the 60% Solution advocates: 60% of your income goes to fixed expenses: - Housing - Utilities - Groceries - Transportation 10% to retirement savings 10% to long-term savings 10% to short-term savings 10% “fun money” for activities, trips, or other infrequent splurges
How to Make A Budget: The 60% Solution Explained →6 retirement strategies that don't get talked about enough
Jason Heath: These alternative strategies can help you achieve the best retirement possible →8 Money-Saving Tips, According to Wirecutter’s Expert Deal Hunters:
How to succeed at budgeting - A guide to 4 budget planning methods:
5 Easy Ways to Take Control of Your Personal Finances by Kiara Taylor of Ascend
5 Ways to Manage Your Personal Finances by Rakshitha Arni Ravishankar
Here are five pieces of advice from our authors on how to feel in control of your personal finances →7 Budgeting Tips to Help You Save More Money from American Express
What is the 50/15/5 rule for saving?
The key takeaways to this simple plan are as follows:
Consider allocating no more than 50% of take-home pay to essential expenses.
Try to save 15% of pretax income (including employer contributions) for retirement.
Save for the unexpected by keeping 5% of take-home pay in short-term savings for unplanned expenses.
You'll have 30% of your take-home pay left over for discretionary spending. That might include shopping, dining out or entertainment.
Author Tammy Lally encourages us to break free of "money shame" and shows us how to stop equating our bank accounts with our self-worth.
TED.com - Let's get honest about our money problems →10 Budgeting Tips to Increase Your Money Management Skills, from Rachel Dalrymple
The 50/30/20 rule is a suggested budgeting guideline that advises allocating:
Student discounts to help you save on back-to-school expenses in Canada
Here is a handy list of student discounts you can take advantage of across Canada →An overdraft occurs when you do not have enough money in your bank account to cover a payment or withdrawal. These transactions may include: - Debit purchases - Bill payments and pre-authorized debits - Cheques - Withdrawals - Transfers between bank accounts
Learn more about getting overdraft protection →Investing against climate change - Climate change is a growing concern for many young Canadians, with some questioning where they should live, what they should be saving for and how they should invest.
Podcast: Stress Test by columnist Rob Carrick - How climate anxiety is shaping small and large financial decisions →The word ‘budget’ derives from the French word bougette, which means leather bag. The bag contained the papers setting out France's revenue, expenditure and tax.
Start your personal bougette today →You made it to university and you get to decide which courses to take, which clubs to join and what to eat for dinner. Also: how much money to spend
9 budgeting tips for university students →You could receive a maximum payment of up to:
If you are single
If you are married or have a common-law partner
These are expenses that are not necessary. Another way to identify these expenses is to determine if they are 'wants' rather than 'needs'. Non-essential expenses might consist of: - Coffee - Entertainment - Subscription services (Netflix, Disney+, etc.) - Meal delivery services (Uber Eats, DoorDash, etc.) These are unlike rent, mortgage, and food which are 'needs' or expenses that must be met.
Follow every dollar - Track and analyze your non-essential expenses →This is money that's set aside as a financial safety net. Depending on how much you have saved, an emergency fund could cover long-term expenses if you lose your job or with short-term unexpected events.
Start tracking your emergency fund today →Attending university is the first time that many Canadian students get to practice real-life budgeting.
Best budgeting tips for university students in Canada →What to consider before you start a budget: - Think about your financial goals - Identify your short-term and long-term goals - Make saving for those goals part of your budget
Take these simple steps before you make your budget →You know a lot more about budgeting than you probably think. Even if you’ve never done any kind of household budgeting at all, you almost certainly already have had significant experience with it.
How To Make A Budget: 5 Time-Tested Approaches →While you would be forgiven for being nose-deep in your books, it’s time to take a minute to reflect on how you’re managing your money. Do you have a budget? Or are you spending on the go?
21 money-saving tips and tricks for students →You know a lot more about budgeting than you probably think. Even if you’ve never done any kind of household budgeting at all, you almost certainly already have had significant experience with it.
How To Make A Budget: 5 Time-Tested Approaches →SMART financial goals help you identify exactly what you want and how you plan to achieve it. SMART goals are: - Specific - Measurable - Achievable - Relevant - Time-Based
Start setting SMART goals and track your progress over time →Making a budget can help you balance your income with your savings and expenses. It guides your spending to help you reach your financial goals.
Why make a budget →Houses fulfill a rare mix of necessity, utility, sentimentality, and for many, also act as a primary investment to build wealth. And it’s that last angle, combined with increasing demand in many countries, that is driving housing prices skyward.
See how Canada measures up →See your spending from a different perspective...
Saving starts with spending less on non-essential expenses. Learn how we can help →We believe financial planning should be simple, engaging and understandable for everyone.
Why is budgeting an essential personal finance tool →"You must gain control over your money or the lack of it will forever control you."
- Dave Ramsey
According to Canada's Food Price Report for 2023, a family of four will spend $16,288.41 on food this year ($1,357.37 a month) —that's up $1,065.60 from 2022.
Learn about how to start monitoring your food spending with Neontra →Mapped: The Price of Starbucks Coffee, by Country
Do you know how much you spend on daily coffee? See how you compare →Tax season is upon us and that means it’s a good time to revisit what needs to be done for your 2022 taxes.
It’s always best to go to the right source for important tax information →← Curating the web to find the most interesting and helpful information about your money.