Budgeting at BSCU
Learn how to budget your expenses!

To spend wisely is to live more comfortably. Yes, we get it, you hate the word “budget” it is scary and at the same time overwhelming . The thought of quitting some of your spending can seem unimaginable. But, fear not, budgeting allows you to see where your money goes. Leaving you with the option to treat yourself once in while without feeling overwhelmed by debt.

How should you start?

  1. Calculate your income and your expenses
    The first step is simple. Write down how much you make along with some prioritized spending categories. Include your rent or mortgage, utilities,  food, automobile expenses, and insurance.TIP: Make sure you budget for fun. You should not spend $200 every Saturday night, but you can leave $150 aside to have some fun during the week. This way you can continue to enjoy your fancy coffee and your brunch with friends.
  2. Set realistic goals for your budget: If you want to go on a trip to visit family during the holidays, do not wait to start saving. Create a separate Wish Account to prepare you for your vacation. This will allow you to have some self control.  It will stop you from spending money on petty items and you might be able to enjoy your vacation without worrying about the bills that await home.
  3. Track your progress: Creating a budget is only helpful if you can commit to it. Tracking your monthly, weekly, and daily spending will allow you evaluate and reflect on your progress. Remember your spending may fluctuate according to the month and that's Okay. Just be diligent and discipline the majority of your time.

There is no science behind budgeting, the trick is to spend less than what you make. Come on members! Have discipline, be conscious of your spending, and save money.

Good Luck!