Budgeting / Athena Valentine Lent.

Title :

Budgeting

Author:

Format:

Books

Summary:

"Budgeting For Dummies shows you how to create a plan that fits your lifestyle, manages everyday needs, and builds your savings. Author Athena Valentine, founder of the Money Smart Latina blog, offers step-by-step details for creating and following a budget without feeling like you're depriving yourself and your family of all the things that make life worth living. This book shows you how to figure out where your money comes from and where it goes so you can live the life you want and work toward your financial goals. Find out how to establish an emergency fund, eliminate debt, improve your credit score, and stick to your budget through economic ups and downs"--

Language:

English

ISBN - ISSN:

9781119985143

1119985145

Physical Description:

xiv, 298 pages : illustrations ; 24 cm.

Contents:

All about budgeting. Beginning with budgeting basics ; Breaking down the parts of a budget -- Finding a budget that works for you. Zero-based budgeting ; The 50/30/20 budget ; The envelope budget ; The pay-yourself-first budget ; Tips for creating a new budget -- Taking care of your priorities. Establishing an emergency fund ; Saving for your retirement ; Eliminating debt -- Budgeting in action. Budgeting in a tough economy ; Budgeting during different life stages ; Budgeting for a major purchase or life event -- Using your budget for money management. Budgeting for major life changes ; Keeping tabs on credit card spending ; Using a budget to plan for the future -- The part of tens. Ten creative ways to budget ; Ten ways to stay motivated when following a budget.

Subject:

Budgets, Personal.

Financial literacy.

Series:

--For dummies.

First Title value, for Searching:

Budgeting / Athena Valentine Lent.

Holds: Copies:

Available:*

Library	Audience	Home Location	Material Type	Shelf Number	Status
Searching... Central	Adult	Non-fiction	New books	332.024 L574	Searching... Unknown

Bound With These Titles

On Order

Summary

Build a budget that puts you on solid financial footing

Ask any financially successful person how they achieved their goals, and chances are they'll tell you it all started with a budget. And that's exactly where you should start. Budgeting For Dummies shows you how to create a plan that fits your lifestyle, manages everyday needs, and builds your savings. Author Athena Valentine, founder of the Money Smart Latina blog, offers step-by-step details for creating and following a budget without feeling like you're depriving yourself and your family of all the things that make life worth living. This book shows you how to figure out where your money comes from and where it goes so you can live the life you want and work toward your financial goals. Find out how to establish an emergency fund, eliminate debt, improve your credit score, and stick to your budget through economic ups and downs.

Discover budgeting methods that work so you can live within your means Create a budget for your unique situation to get a handle on your income and expenses Deal with common budgeting challenges without taking on more debt Increase your credit score and save toward a major purchase

You don't need to make six figures to achieve your financial goals. Valentine, who also writes for Slate.com, knows the struggle of trying to make ends meet and is enthusiastic about sharing her knowledge with anyone who wants to improve their financial literacy. If you're not sure where to start when it comes to managing your money, you can depend on Valentine's tried-and-true advice in Budgeting For Dummies to set you on the right path.

Author Notes

Athena Valentine Lent is the founder of Money Smart Latina, a blog and financial education resource center. She leads workshops and classes on money management, financial resiliency, and navigating finances. She publishes a personal finance column at Slate.com.

Introduction	1
About This Book	2
Foolish Assumptions	3
Icons Used in This Book	3
Beyond the Book	4
Where to Go from Here	4
Part I All About Budgeting	5
Chapter 1 Beginning with Budgeting Basics	7
Knowing What a Budget Is and Why You Should Use One	8
Understanding Why People Think Budgets Fail	12
You forget to adjust it	13
You don't have an emergency fund	13
Your budget exceeds your income	14
Taking Inventory of Your Finances: A Spending Analysis	15
Make a list of your financial assets and liabilities	17
Review your spending for the past three months	19
Chapter 2 Breaking Down the Parts of a Budget	21
Seeing Where Your Money Goes: Your Expenses	22
Identifying fixed expenses	23
Allowing for variable expense	25
Knowing Where Your Money Comes From: Your Income	29
Depending on a monthly income	29
Identifying additional sources of income	32
You Gotta Have Dreams: Financial Goals	33
Saving for your future	34
Paying down your debt	35
Putting your financial goals in place	35
Part 2 Finding a Budget that Works for You	37
Chapter 3 Zero-Based Budgeting	39
Setting Up Your Zero-Based Budget	40
List all expenses and substract them from your income	40
Assign your total income to budget categories	43
Track your spending	49
Explore real-life examples	52
Perusing the Pros of Using a Zero-Based Budget	54
Lets you see where every single dollar goes	54
Aligns your expenses with your income	54
Dedicates space for goal setting	55
Considering the Cons of Using a Zero-Based Budget	56
It's a lot of work	56
It can be tough if your income is irregular	56
It may make your variable spending stressful	57
Asking Yourself Whether Zero-Based Budgeting Will Work If	57
You don't have the same expenses every month	57
You're not organized	58
Chapter 4 The 50/30/20 Budget	59
Setting up the 50/30/20 Budget	60
Determine your income	60
Distinguish wants and needs	61
Determine your 50 percent needs	61
Evaluate your 30 percent wants	63
Save 20 percent for retirement and future expenses	64
Explore real-life examples	66
Looking at the Pros of Using a 50/30/20 Budget	70
It's simple	70
It creates financial responsibility from the get-go	70
It works regardless of your income level	70
You can include fun in your budget	71
Your financial goals are a priority	71
Checking out the Cons of Using a 50/30/20 Budget	72
Your categories may not match the percentage assigned	72
You may use your fun budget for junk you don't need	73
Finding guidance for savings is difficult	74
Evaluating Whether a 50/30/20 Budget Will Work If	74
You have a variable income	75
You're new to adulting	75
Chapter 5 The Envelope Budget	77
Setting Up Your Envelope Budget	78
Determine your expense categories	79
Create the cash envelopes	81
Spend from your cash envelopes	83
Make an online purchase	84
Analyze real-life examples	85
Perusing the Pros of Using an Envelope Budget	87
It's easy to maintain	88
It helps with overspending	88
It helps build frugality and resourcefulness	89
Considering the Cons of Using an Envelope Budget	89
You miss out on credit card perks	90
You may find It too restrictive	91
Cash can be stolen or misplaced	91
Asking Yourself Whether the Envelope Budget Will Work If	91
You struggle with planning ahead	91
You need to share cash with your partner	92
Chapter 6 The Pay-Yourself-First Budget	95
Setting Up the Pay-Yourself-First Budget	96
Figure out your financial goals	96
Calculate how much you need to save	97
Determine how much you actually can save and still cover your expenses	100
Explore real-life examples	101
Understanding the Pros of Using a Pay-Yourself-First Budget	102
Financial goals are easier to stick to	102
It helps you prioritize saving	103
It's low stress	103
Considering the Cons of Using a Pay-Yourself-First Budget	104
Saving even a small percentage can strain your quality of life	104
You may need more structure	104
Evaluating Whether the Pay-Yourself-First Budget Will Work If	105
You get overwhelmed easily	105
You're organized	105
You have a lot of debt	106
Chapter 7 Tips for Creating a New Budget	107
Determining Your Budget Categories	108
Planning ahead for the month	108
Reflecting on fixed and variable spending	109
Compiling a list of budget categories	111
Using the Right Tools	116
Tracking your money with budgeting software	116
Looking at budgeting apps	117
Picking the right app for you	119
Taking the DIY approach	121
Taking advantage of your accounts' resources	122
Practicing Makes Perfect	124
Revisit your budget	124
Create a cash buffer	125
Look for ways to make your system easier to follow	126
Part 3 Taking Care of Your Priorities	127
Chapter 8 Establishing an Emergency Fund	129
Understanding Why You Need an Emergency Fund	130
Finding the Right Place to Stash Your Cash	132
Hitting up high-yield saving accounts	132
Mulling money market accounts	133
Reviewing a Roth IRA	134
Recognizing the importance of a separate emergency fund account	136
Building an Emergency Fund from Scratch	137
Decide your target amount to save	137
Use financial windfalls	140
Take advantage of credit card rewards	141
Consider automatic transfers into your emergency fund	141
Find ways to make extra money	141
Chapter 9 Saving for Your Retirement	147
Accessing Employer-Matched Retirement	148
Partial matching	148
Dollar-for-dollar matching	149
Tiered matching	149
Making Your Money Work for You	149
Set a retirement savings goal	150
Max out your retirement contributions	150
Consider more than one retirement account	151
Keep your cost of living low	151
Use catch-up contributions if they're needed	152
Chapter 10 Eliminating Debt	153
Looking at the Different Types of Debt	154
Student loans	154
Credit cards	155
Home and auto loans	155
Miscellaneous debt	157
Paying Off Your Debt	159
Compiling a list of your debt	159
Considering different payoff methods	161
Applying additional strategies	168
Avoiding Accumulating More Debt	172
Look into refinancing options	173
Save an emergency fund	174
Say no to credit card offers	174
Invest in the right insurance	174
Part 4 Budgeting in Action	177
Chapter 11 Budgeting in a Tough Economy	179
Keeping Your Head through the Ups and Downs of Inflation	179
Comparison shop to find the best deals	180
Adjust spending categories and goals	181
Don't forget your emergency fund	181
Look into additional income streams	182
Plan ahead as much as possible	184
Consider living frugally	185
Evaluating Your Job and Its Related Expenses	186
Discuss your options for alternative work environments	186
Analyze your compensation package	187
Assess work-related costs	187
Budgeting with Irregular Income	188
Calculate bare bones expenses and income	188
Stick with cash envelopes	190
Use community resources	190
Chapter 12 Budgeting during Different Life Stages	193
Taking Responsibility for Your Money as a Student	193
Understand your financial aid package	194
Apply for internships	197
Utilize your school's work-study program	199
Maximize student discounts	200
Account for major and ongoing college expenses	201
Sharing and Agreeing on Money Management as a Couple	202
Get on the same page as your partner	202
Use joint accounts in a way that works for you	203
Identify financial abuse and financial infidelity	204
Planning for Child-Related Costs	205
Factor in housing costs	205
Buy used	206
Create an ongoing sinking fund for school expenses	206
Research daycare opportunities	206
Look into a dependent care account through your employer	207
Living off the Money You've Saved for Retirement	208
Examine your saving ten years before retirement	208
Understand your retirement budget	209
Prioritize your needs over others	210
Chapter 13 Budgeting for a Major Purchase or Life Event	211
Purchasing a Home	211
Use the 28/36 rule	212
Determine your down payment	213
Research your financing options	214
Consider other homeownership costs	215
Remodeling or Renovating Your Home	217
Decide what amount you're comfortable spending	217
Keep an eye out for sales	217
Be realistic about what you can DIY and what needs a professional	217
Buy used	219
Buying a Car	219
Choosing between buying new and buying used	220
Thinking through insurance	221
Purchasing a car in cash versus financing	223
Planning for recurring costs	224
Paying for Life Events	224
Throwing a wedding	225
Starting a family	227
Part 5 Using Your Budget for Money Management	231
Chapter 14 Budgeting for Major Life Changes	233
Losing Your Job	233
File for unemployment and other state benefits	234
Assess your overall financial situation	237
Focus on essentials	237
Communicate with financial providers if paying down debt	239
Look into community resources	239
Take care of your mental health	241
Having a Chronic Illness or Short-Term Disability	241
Assess your resources and income	242
Look into ways to cut healthcare costs	242
Anticipate the future	244
Figuring Out Your Estate Planning	245
Protect your assets	245
Contact an estate attorney if necessary	246
Use life insurance	246
Review proper documentation	247
Chapter 15 Keeping Tabs on Credit Card Spending	249
Making a Plan to Use Your Credit Cards Wisely	250
Determine how much you can spend	250
Be smart about which budget categories you charge	251
Pick a budgeting method for payoff	251
Avoid carrying a balance	251
Set card accounts for fraud protection	252
Improving Your Credit Score	252
Using Credit Cards to Your Advantage	255
Utilize rewards like travel and cash back	256
Use autopay for fixed expenses	257
Chapter 16 Using a Budget to Plan for the Future	259
Setting Financial Goals	259
Identify reasons to set financial goals	260
Establish time frames	262
Choose your savings accounts wisely	264
Avoid early withdrawal from your savings accounts	265
Investing on a Budget	266
Use a fee-based certified financial planner	267
Think small with apps and robo-advisors	267
Saving for College	268
Invest in a 529 plan	268
Contribute to a Coverdell education savings account	270
Squirreling Away Funds for Future Fun	271
Budgeting for travel	271
Budgeting for a new hobby	272
Budgeting for social activities	273
Part 6 The Part of Tens	275
Chapter 17 Ten Creative Ways to Budget	277
Make a No Spending Rule	277
Avoid Buying New Clothing	278
Buy Secondhand Items	278
Shop Local	278
Reset Your Daily Habits	278
Allow for a 30-day Waiting Period	279
Look into Sustainable Living	279
Consider Minimalism	279
Practice Gratitude	280
Use Visualization When Goal Setting	280
Chapter 18 Ten Ways to Stay Motivated When Following a Budget	281
Define Your Why	281
Document Your Journey	282
Prepare to Deal with Burnout	282
Tackle a 52-week Challenge	282
Put Away a Dollar a Day	283
Automatically Transfer $20 a Week	283
Celebrate Paying Off Debt	283
Visually Represent Progress toward Major Purchases	283
Think about the outcome	284
Write a Recap of Your Accomplishments	284
Index	285

Available:*

Bound With These Titles

On Order

Summary

Summary

Author Notes

Table of Contents