Page 8 - Career Symposium 2019

8 THE BRANDON SUN • CAREER SYMPOSIUM • APRIL 2019

» Sunrise Credit Union

Budgeting basics

BY BRUCE LUEBKE ductions like health care, em-
ployment insurance premiums
A budget is like a New Year’s and retirement savings contri-
resolution. We all know it’s de- butions.
signed to help us, and yet we
have so much trouble sticking Take savings seriously
to it. And like resolutions, we If budgeting categories were
often map out personal budgets the playground, savings would
with the best intentions, only be picked last. Be sure to give
to abandon them a couple of your monthly savings contribu-
weeks later. tion the same priority as your
Here are some tips that’ll living expenses. Check your
help you find success, whether budget, not your balance.
you’re planning your first bud- Checking your balance
get or re-evaluating your cur- doesn’t do a good job of telling
rent budget. you what you can and can’t af-
ford each month. Get into the
Find a way to budget that habit of referencing your budget
works for you instead of your account balance
Lots of people avoid budget- before spending your money, es-
ing because they think it means pecially when major expenses or
giving up everything they love purchases are involved.
and converting to a more fru-
gal lifestyle. Budgeting is not Build up an emergency fund
meant to shame you. At the end Emergency funds should be
of the day, budgeting is simply a separate category from gen-
about awareness. If you fully eral savings goals. In order to
understand where your money be effective, emergency funds
is going each month, you can should only be accessed for real
design a budget that allows you emergencies — like sudden
to truly enjoy your money. unemployment, an unexpected
medical emergency, or a critical
Base your budget income on home or vehicle repair.
your take-home pay
A rookie mistake in bud- » Bruce Luebke is the communications
geting is using your salary as and content co-ordinator for Sunrise
you monthly income without Credit Union
subtracting taxes and other de-