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Got money problems? Chances are you don't have a budget

Posted: 1:02 PM, Aug 10, 2018
Updated: 2018-08-10 22:31:30Z
Do you have a budget and live within it?

It is no secret that many people are struggling with their finances.  Those problems will only get worse for people who do not have a budget and work to stay within it.

Consumer Credit Counseling Service of Buffalo said the basics of building a family budget are simple:

-Track all your expenses for 30 days.

-See where the leaks are (like eating out) and then adjust your budget.

-Have variable expenses, such as gas and electric utility bills, put on a budget-billing plan so you pay the same amount every month.

-Don't forget to build-in yearly expenses like car repairs, taxes, and holiday gifts.

-Try to allocate $150 per person every month for groceries and household expenses.

-Work to create an emergency savings account.  Consumer Credit Counseling recommends having enough money to cover for 6 months of expenses in case you need it.

For those who need help with paying their bills and creating a budget, Consumer Credit Counseling can be reached by calling (716) 712-2060.

7 Eyewitness News Reporter Ed Reilly has more in his report.

 

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