Why should I budget?
Sticking to a budget is a great way to save money while still enjoying the things you love. Budgeting can be tailored to fit your needs, but the goal is usually the same: improving your financial stability and keeping you in control of your cash.
financial wellbeing
budgeting: control your cash flow
Identify your goals.
To begin a budget, look at the long- and short-term goals you’re saving for. Saving for a vacation in the short term or working to pay off credit card debt is an example of a short-term goal. Buying a house or saving for retirement would be a long-term goal.
financial wellbeing
budgeting: control your cash flow
Track your money movement.
List all your sources of income, such as salary, freelance work, or side jobs. Then, determine your monthly costs, such as housing, utilities, groceries, and other frequent expenses. Assign your expenses to a category such as fixed, variable, and non-essential.
financial wellbeing
budgeting: control your cash flow
Pick your path.
• Pay-Yourself-First Budgeting. A “reverse” budget puts savings over immediate expenses.
• The 50/30/20 Rule. Allocate 50% to needs, 30% to wants, and 20% to savings or debt repayment.
• Envelope System. Divide your cash into physical envelopes dedicated to different expenses or savings.
• Zero-Based Budget. Take your monthly income and use every dollar deliberately — for things like groceries or housing — until there are no dollars left.
financial wellbeing
budgeting: control your cash flow
Camel
Chest, shoulders, and neck stretch
physical wellbeing
exercise of the month
Disclaimer: Always perform stretch and strength exercises using slow, controlled movements. �If you experience pain, discontinue the exercise. Consult a health care professional for alternative options. HealthSource Solutions is not responsible for injuries resulting from these activities.
Regular movement is fundamental to good health. Moving or changing postures every 30 minutes is recommended.
Lincoln Wellness Path
Financial Employee Assistance Program
With the Employee Assistance Program (EAP) through Guidance Resources, you have access to confidential assistance with nearly any personal matter you may be experiencing at no cost 24/7/365.
Including:
To find out more, visit: https://GuidanceResources.com
Download the Guidance Now mobile app, or
call 888-628-4824