What Are Some Tips for Budgeting Your Money?


Quick Answer

To maintain a successful budget, track expenses and set goals for saving and spending, recommends Quicken. Consumers can review bank statements to see where their money goes and determine whether short-term purchases, such as entertainment and restaurant meals, are interfering with long-term goals, such as purchasing a home.

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Full Answer

Expensive car and home repairs often throw budgets off track, but individuals can plan for large upcoming expenses by setting aside a small amount of money every month. To free up money for savings, consumers should limit housing costs to 30 percent, transportation expenses to 18 percent and food costs to 16 percent, recommends Quicken.

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