Establishing A Responsible Budget with @CapitalOne360 #FinancialPeace #CleverGirls #Sponsored

Establishing and sticking to a reasonable and responsible budget can prove to be very challenging, especially if you are not normally disciplined.  It is not something that can really be done overnight.  Sticking to a responsible budget takes organization, planning, discipline and patience.

 

My daughter is in the perfect position right now to become well versed and educated in establishing and sticking to a budget.  She is 17 years old, works 25-30 hours weekly and is making more money in a month that she ever has before.  Although she does not have that amount of bills that I do as her mother, I am already trying to teach her to save and budget for her future.  She is responsible for paying her own car insurance and cellphone bill each month.  Additionally, she is required to save a portion of each pay check in a savings account so that she can start the road to financially becoming responsible herself.

 

First thing you need to establish is the amount of bills and debt that you have versus the amount of money you bring in each month.  The next step is to clearly lay out a budget plan each month and pay your bills in a timely manner.  It is also imperative to focus on your savings account and put away a set percentage of your earnings each pay to establish and build your savings account.  You can do this with a direct deposit transaction, that way the money is automatically put into your savings and you never have to take that extra step.

Use either cash, or a credit card that earns you back some rewards as part of your account, this way you can not only pay the bill in full each month when it arrives, but you can also earn a little incentive to using that card.

Another tip is to keep all of your receipts and balance your checkbook each time you use your card or checks, that way you can physically see how and where you money is going and avoid any fees or overdraft.

One great way to save and spend responsibly is to really analyze your spending habits and what items you actually purchase.  Instead of eating out for lunch everyday, pack 3-4 times a week and then make Friday your “dine out” day.  You will find that this can add up to a HUGE savings very quickly.  This about it like this, the average lunch can cost $8-$10 when dining out.  Packing 3-4 times a week can save you, on average, $128-$160 a month.

Finally, be ready for the unexpected.  Life can throw you a curve ball at any moment in the form of a flat tire, busted water heater or worse.  Having an established budget and savings can help you easily avoid tapping into your monthly budget for these unexpected expenses.

 

The holiday time can sometimes put a cramp on an already established budget.  This holiday season,with the help of Capital One 360, you can start down the right path to achieving great budgeting success and maintain the goal being responsible and of sticking with a budget.

 

Right now, you can check out the Capital One 360’s Black Friday Sale to learn more and start thinking about sticking to a responsible budget this holiday season.  Their various products are designed to save you time and money. From their online services to the mobile app, Capital One 360 is with their customers 24 hours a day, 7 days a week! Capital One 360 Checking and 360 Savings are fee-free and earn interest. They even offer remote deposit capture with Capital One 360’s CheckMate tool and make savings a snap with the Automatic Savings Plan!

 

While you may have gifts, greetings and get-togethers on the brain, it’s important not to lose sight of your financial goals. All of Capital One 360’s Black Friday Sale deals are designed to encourage consumers to keep their finances top of mind.

 

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.