Better Business Bureau tips on a working budget
By: Staff 12/01/2006
Signs of an economic slowdown are mounting and the holiday season is upon us, a time when many people spend more money than they intended. The Better Business Bureau of Minnesota and North Dakota (BBB) advises consumers to take the initiative now to develop a working budget to guide them through the holidays and beyond.
“More consumers are having to take second and third jobs to make ends meet, the number of uninsured are growing, and the cost of borrowing money is rising,” said Bert Hubbell, BBB President. “Families that have put in place an effective financial roadmap will be better equipped to handle the economic challenges of the holidays.”
To help guide those who need assistance in improving their spending and savings habits, the BBB has released BBBTips™ on How to Develop a Working Budget available at www.bbb.org/tips/clearpoint for easy access by consumers who want to improve their financial situation.
Included are practical tips for consumers to help assess their monthly income sources and set spending targets for their fixed, variable and periodic expenses. Consumers can learn what steps they should take if their expenses are greater than their income, and find out how best to pursue short-term and long-term financial goals when they are in a position to set aside savings.