a new home, or upgrades to your current home.Some examples of things you might want to save for are: This will help you set your savings goals. Think about what you would like to have money for in the future. Pay off your debts with the highest interest rate first as this will save you more money in the long term. This means you have less money for yourself and your family.įigure out what debts you have and how much you pay for each of them. The interest you pay on debts, such as credit cards and loans, can cost you a lot of money. Use the Budget Planner to create a budget that ensures you’ll be able to cover your ongoing expenses. how much you spend on “wants”, such as dining out and entertainment.how much you spend each month on “needs”, such as rent or mortgage payments, bills and food.how much money you regularly get from your job, benefits or other sources.Making a budget can help you balance your spending so you can figure out what you can afford. It helps you figure out how much money you get, spend and save. what might get in the way of reaching those goalsĪ budget is a plan that helps you manage your money.Budgeting and saving can seem hard if you don’t have a clear plan. Thinking about what you want to do with your money is the first step to reaching your goals. Paying down debt and setting aside savings are examples of money goals. Learn more about choosing a financial advisor. You may want to speak to a financial professional to help you figure out what to do. It’s important to think about your financial situation and your short- and long-term goals before you spend any of this money. a large payment after completing a special work assignment.a severance payment if you lose your job.a large payment from a lottery or other contest.a Lump Sum Disability Award if you are a veteran.a large inheritance of money or real estate when a loved one passes away.You may get a large amount of money at some point in your life.

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