Managing your finances can be scary and overwhelming. Creating a ‘plan’ for your money is the key to long term happiness. Here’s an easy way to approach building a budget:

First, list all of your income sources. Second, record your monthly and yearly expenditures (rent, student loans, car payments, etc.). Third, needs vs. wants – Be honest with yourself. Put 50% toward your needs, such as rent and transportation, 20% to savings, think retirement and emergencies (Don’t forget this part! Keeping your savings goals in mind will help keep you on track and on budget!), and 30% to wants like travel and entertainment. Keep your budget simple, realistic and give it time to work – you can always adjust it. It may be difficult to meet your savings goals at first, but stick with it and you will be proud!