Budgeting is an important part of a healthy financial life. It will allow you to see what you need to do in order to avoid overspending and worrying about paying bills. Take these steps to build a better financial situation.

Set Your Goal

It is much easier to start fixing your finances when you have a goal. Seeing a light at the end of the tunnel will give you the proper motivation to adjust your habits. It could be a down payment on a home, a family vacation, or starting an emergency find. Once you pick your goal, figure out what it will cost and you’ve got a great starting point to fix your finances.

Create a Financial Log

Tracking your spending and expenses with a spreadsheet will go a long way in helping your financial life. You can use a budget template found in programs like Excel. Figure out your monthly income using paystubs and then list your expenses by listing your bills. You have to remember to account for other expenses like dining out or other leisure activities that aren’t regular occurrences. This is also where you can add a column for saving, and set aside a reasonable amount you can track each month.

Start Adjusting

Now that you have your income and expenses laid out in front of you, figure out if there is anything you can eliminate to save money. Cut down on restaurants and smaller extra expenses. They tend to add up without you realizing. If your grocery bill is typically high, start planning your meals or creating shopping lists and stick to them. If you have multiple credit cards, it might be wise to research consolidating your debt. A consolidation loan with SeaComm allows you to combine all of your outstanding balances into one convenient monthly payment. This creates a more reasonable period to pay off your debt, without feeling overwhelmed.

With SeaComm’s loan pre-approval program, LoanEngine™, you might already be pre-approved for a consolidation loan! If you qualify for a pre-approved offer, you’ll be presented with it through our SeaComm Mobile 4.0 app or NetTeller™ in the “My Offers” tab, via email, and/or a letter through the mail. Click here to login to your NetTeller™ to view your current offers. If you don’t have any offers at this time, be sure to check back every 60 days.