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Budgeting to Suit Your Lifestyle by Greg Parker

It seems like everything these days costs money, and it can be challenging to budget an adventurous lifestyle! Things like traveling, eating out or even going to concerts can really add up. 

My first step is to figure out where I stand financially and what my budget is. Figuring out your budget may seem daunting if you are opposed to math, but it is pretty easy! Once a month, I calculate my monthly budget by determining my total income and subtract my total expenses for a month. 

My costs are things I pay every month, like my rent, insurance, car payments, Netflix subscription which are set amounts. My expenses also include my variable expenses or things that fluctuate per month in amount, like food, utilities, personal care, gas, transportation, or private spending money. 

The fluctuating amounts can be challenging to determine. Still, some banks may have a monthly spending analysis available for you online that can show you how much you have spent on different spending categories which is an amazing tool. 

I make a list of everything that I buy and their cost in one month to find out a general amount I spend per month. Once I have my expenses figured out, I take my total income and subtract my total expenses, and I get my budget! 

Knowing my budget will allow me to analyze what I have and what I need to do to reach my goals. That concert next week? This will let me know if it can happen or what I need to do to make it happen! 

When my budget is calculated, I could now continue to my next step, which is analyzing where I am at and decide what my next steps need to be. If I get a negative value as my budget, then I need to re-evaluate what I am spending on, and maybe I can cut back on unimportant things 

Now is the time you need to focus on planning out your expenses so then your extra money can go to savings for the future? Being aware of your budget and planning out your expenses is essential to leading an adventurous lifestyle. Lastly, it takes a lot of research to live adventurously. Traveling is fun, but you still got to budget! If money is tight, then you have options out there! Check for free events, concerts, and activities! Find coupons, promotions, or sales! Companies sometimes have apps or rewards programs that will get you free stuff or discounts just for signing up or paying a small fee. 

Apps like Groupon can get you discounts on merchandise as well as different deals on activities. If you need a place to stay when traveling, you can stay at hotels, hostels, Airbnb, Comparing prices online will help you score a deal. 

If you begin with knowing where you stand, you can make your goals a reality. You don’t need to miss out on fun activities because of money. Taking advantage of how connected we are all becoming through technology can be beneficial to living on a budget. 

Finding out your budget, adjusting to your needs, and researching options will help you be able to do a lot more with less.

Written by Jen Chen

Jen has been with Blue Copper since 2010. She had a prior life in recruiting and sales. Jen was excited about Dave’s vision (not too many people can say that about their ex) of getting people out of the payday loan cycle and being able to help clients who other companies might not give a chance to. She was pleased that she was allowed to use her gut, heart and common sense instead of only looking at the beacon score on a credit bureau. Jen is excited to offer a unique lending experience where the loans delivered lead to a better life for clients.

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